Question : The extended marketing mix (7Ps) recognizes the importance of:
Option 1: Focusing solely on the product attributes
Option 2: Emphasizing price as the primary differentiator
Option 3: Including additional elements for service businesses
Option 4: Minimizing the role of promotion in the marketing strategy
Correct Answer: Including additional elements for service businesses
Solution : The correct answer is (c) Including additional elements for service businesses.
The extended marketing mix (7Ps) recognizes the importance of including additional elements specifically for service businesses. While the traditional marketing mix (4Ps) focuses primarily on product-oriented businesses, the extended marketing mix acknowledges the unique characteristics of service-based industries. It expands upon the traditional 4Ps (product, price, place, and promotion) to better address the challenges and considerations in marketing services.
The extended marketing mix acknowledges that service businesses require a more comprehensive approach to marketing that goes beyond just the product or service itself. It recognizes the importance of people, processes, and physical evidence in delivering and promoting services effectively.
Question : Which of the following is an element of the extended marketing mix (7Ps) that is specifically applicable to service businesses?
Option 1: Product
Option 2: Place
Option 3: Promotion
Option 4: People
Question : Which of the following elements of the marketing mix determines how the product will be distributed to the target market?
Option 3: Price
Option 4: Promotion
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