Question : The marketing mix provides a framework for:
Option 1: Customer segmentation
Option 2: Product pricing
Option 3: Market research
Option 4: Marketing strategy development
Correct Answer: Marketing strategy development
Solution : The correct answer is (d) Marketing strategy development
The marketing mix provides a framework for marketing strategy development. The elements of the marketing mix (product, price, place, and promotion) serve as building blocks that guide the development of a comprehensive marketing strategy. By strategically managing these elements, companies can create value for customers, differentiate themselves from competitors, and achieve their marketing objectives.
Question : The 4Ps of marketing provide a strategic framework for:
Option 1: Customer relationship management
Option 2: Brand positioning
Option 3: Market segmentation
Option 4: Marketing mix decision-making
Question : Which of the following is an example of product modification as a marketing mix strategy?
Option 1: Changing the pricing strategy
Option 2: Expanding distribution channels
Option 3: Adding new product features
Option 4: Increasing promotional activities
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