EMKT503 Unit 3 Marketing Mix Subjective Questions with Answers

EMKT503 Unit 3 Subjective Questions with Answers - Marketing Mix

Q. Explain Marketing Mix.

Answer: Marketing mix is the set of controllable tools used by a firm to influence target customers. This concept helps marketers take better decisions related to customers, markets and strategy. In examination, explain it with meaning, features and example.

Q. Explain Product Decision.

Answer: Product includes features, quality, design, brand, packaging and services. This concept helps marketers take better decisions related to customers, markets and strategy. In examination, explain it with meaning, features and example.

Q. Explain Price Decision.

Answer: Price communicates value and affects demand, profitability and positioning. This concept helps marketers take better decisions related to customers, markets and strategy. In examination, explain it with meaning, features and example.

Q. Why is Marketing Mix important?

Answer: Marketing Mix is important because it helps managers understand customers, competitors and strategic market decisions. It improves planning, implementation and customer satisfaction.