What is the Marketing Mix - The 4Ps: Product, Price, Place, Promotion?

The video tutorial explores the concept of the marketing mix, initially introduced by James Cullerton and later expanded by E Jerome McCarthy into the four Ps: product, price, place, and promotion. It delves into each P, explaining their roles in marketing strategies. The tutorial also discusses the extended marketing mix, adding elements like physical evidence, process, and people. Finally, it introduces the four Cs, a customer-centric approach to marketing, highlighting the shift from organizational to consumer perspectives.

What is the primary goal of marketing in a competitive market?

• To make customers aware of products and services

• To increase the number of competitors

• To focus solely on product development

• To reduce production costs

Who introduced the concept of the four Ps in marketing?

• Philip Kotler

• James Cullerton

• E Jerome McCarthy

• Neil Borden

Which of the following is NOT one of the original four Ps?

• Place

• Price

• People

• Product

What does 'Place' refer to in the marketing mix?

• The promotional strategies used

• The price point of the product

• The distribution channels for the product

• The physical location of the company

Which additional P focuses on the experience customers have with a service?

• Politics

• Process

• Physical Evidence

• Performance

What aspect of marketing does 'Performance' primarily relate to?

• The promotional strategies

• The quality and effectiveness of the product

• The distribution channels

• The cost of production

How does 'Packaging' influence customer perception?

• By affecting the product's quality

• By deciding the distribution channel

• By determining the price

• By conveying emotions and brand messaging

What role does 'Politics' play in the marketing mix?

• It influences the social power and status of products

• It determines the product's price

• It decides the distribution channels

• It focuses on product development

Which of the following is a customer-centric perspective on the marketing mix?

• The four Ps

• The marketing funnel

• The four Cs

• The seven Ps

What does 'Convenience' replace in the four Cs model?

• Promotion

• Place

• Price

• Product