Quick questions on Marketing and the Marketing Mix - TCE Business Studies (Tasmania)

3short Q&A pairs drawn directly from our worked dot-point answer. For full context and worked exam questions, read the parent dot-point page.

What is the marketing mix?

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The marketing mix is the combination of controllable elements a business uses to influence demand. The four traditional elements are Product, Price, Place and Promotion.

What are the extended marketing mix for services?

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Because services are intangible and often produced and consumed at the same time, three further elements are commonly added for service businesses, giving the 7 Ps. People covers the staff who deliver the service and shape the customer experience. Process covers the systems and steps that deliver the service consistently, such as booking and wait times. Physical evidence covers the tangible cues that signal quality, such as premises, uniforms and packaging.

What is evaluating marketing?

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A business judges marketing success against its objectives using measures such as sales revenue, market share, customer satisfaction and brand awareness. Market research, both primary (surveys, focus groups) and secondary (existing data), informs and tests these decisions. Evaluation is ongoing: results feed back into the mix so a business can adjust price, channels or promotion when targets are missed, which is why the marketing process is a cycle rather than a one-off plan.

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