Module 2 - Marketing and advertising Unit 2.1 - Marketing: The marketing mix
7. Answer the questions.
7.1. When did the marketing mix become popular?
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Soluzione suggerita:In 1964, thanks to an article published by Neil Borden.
7. Answer the questions.
7.2. What did Neil Borden write about?
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Soluzione suggerita:Borden described how James Culliton defined a marketing manager as a “mixer of ingredients”.
7. Answer the questions.
7.3. What did Jerome McCarthy do after this article?
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Soluzione suggerita:Jerome McCarthy condensed Borden’s list of ingredients into a list of 4P’s.
7. Answer the questions.
7.4. What are the original marketing mix elements?
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Soluzione suggerita:Product, Price, Place, and Promotion.
7. Answer the questions.
7.5. Why were three more P’s added to the mix?
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Soluzione suggerita:Because the original 4P’s did not take services into account, but only goods.
7. Answer the questions.
7.6. What other three P’s were added to the mix?
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Soluzione suggerita:People, Physical evidence, and Process
8.The Marketing Mix – the 4Ps of Marketingposted by 365 Financial Analyst. Watch the video about the marketing mix and complete the sentences with the missing words or expressions.
1. A marketing mix strategy should be in line with the we want to offer to customers.
2. The decisions about the marketing mix are as good as our understanding of the .
3. The marketing mix has proven to be an effective way to understand the decisions a company makes when it enters a .
4. To create the perfect marketing mix, a company must understand the .
5. P of Product: the company will create products that satisfy the and contain the features thaey desire.
6. P of Price: the company will offer these products at a price that corresponds to the ’s willingness to spend.
7. P of Place: the company will offer the products where the target market .
8. P of Promotion: the company will build its in a language that speaks to the target market.