First Activity
01. Marketing mix is an analytical model used by business to attract customers. It is made up of four
elements which are referred to as P s, simply because they all start with P. They are Product,
Price, Place and Promotion.
02.
The 4Ps Explanation of the P
Product The product element of the
marketing mix is focused on the
products or services that a business
sells.
Price This is very important element of the
marketing mix and one that truly
impacts buyer behaviour. Before
setting a selling price, it’s important
that the customers within their target
market are willing and able to pay.
Place Place is focused on the location
where customers can purchase the
products or services which the
business offers.
Promotion Promotion is focused on the activities
undertaken by a business to
generate interest and make
customers aware of the products and
services which they sell.
Example of the P used by McDonald’s
Traditionally McDonald’s offered fast
food which was perceived by the
public as predominately unhealthy but
tasty, with core products burgers,
chips. McDonald’s has introduced a
wide range of diverse products.
The price of McDonald’s products
could be considered as being very
competitive. Many people visiting
McDonald’s only because the products
are affordable. They offer customers a
saver menu. And they introduced a
signature range which is focused on
what they deem to be a more premium
upmarket product with a higher selling
price with the aim of attracting
customers.
McDonald’s introduce a variety of new
ways for customers to purchase
products which include order online.
And delivered by online like
McDelivery, Uber Eats.
They spent 600$ million for advertising
across TV, Radio, billboards. And
uses sales promotion as a short-term
incentive which is designed to
encourage people to buy more of fast
food. Ex: the monopoly promotion And
they utilise direct marketing through
email and app notifications.
Second Activity:

PART A - TRUE/FALSE

1. False

2. False

3. False

4. False

5. True

6. False

7. False

8. True

9. C) determine what products to produce and what products not to produce

10. C) from the mid-1920s until the 1950s

11. B) customer relationship management

12. C) calling customers at their homes to promote the latest products

13. A) a product produced from raw materials that pleases the customer

14. C) resell information from marketing surveys without permission

15. C) distribution

16. B) creating one product designed to meet the needs of all customers

17. D) satisfy customer preferences before they are expressed or even known by customers

18. A) customer relationship era

19. B) creating a need

20. D) scarce resources are channeled into products most desired by society