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Question
Marketing mix for products consists of ______.
Options
4Ps
7Ps
8Ps
5Ps
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Solution
Marketing mix for products consists of 4Ps.
Explanation:
The marketing mix for products traditionally consists of the 4Ps, which are:
- Product: The goods or services offered by a business to meet customer needs and wants.
- Price: The amount of money customers must pay to obtain the product.
- Place: The locations and methods used to make the product available to customers.
- Promotion: The activities that communicate the product’s features and benefits and persuade customers to purchase it.
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CASE STUDY Tata Motors-owned Jaguar Land Rover on Friday reported a 4.9 per cent declinein retail sales at 88,121 units in the second quarter ended on September 30, 2020. The company had posted retail sales of 92,710 units in the same quarter previous fiscal year, Sales of the Jaguar brand were at 17,340 units in the second quarter as against 19248 units in the year-ago period, down 9.9 per cent. Similarly, sales of Land Rover brand were down 3.63 per cent at 70,781 units as compared to 73,462 units in the same quarter a year ago. While there was improvement in sales in the second quarter, it remained constrained by semiconductor shortages, the company said in a statement. "The company continues to see strong demand for its products, with global retail orders again setting new records in the quarter,” it said adding, as on September 30, 2022, the total order book has grown to 2.05 lakh units, up around 5,000 orders from June 30, 2022. Demand for the new Range Rover, new Range Rover Sport and Defender remained strong, accounting for over 1.45 lakh of the 2.05 lakh orders, it added. |
With reference to above case study, answer the following questions:
- Explain the advantages of training Tata motor employees.
- Analyse and advise on any two suitable promotional mix for Tata motors.
- In the context of above case study, Analyze any five advantages of advertising to manufacturers.
The skimming, penetration, parity are decided in which of the marketing mix strategy?
"It is a set-off tangible and physical attributes such as material colour, design, size, weight, etc., assembled in an identifiable form better seller offers to customers for sale." What is it?
Marketing Mix represents the ______ of an enterprise.
What is place mix?
Enumerate the elements of a price mix.
