7115 · 3.3
Marketing mix flashcards
Revision flashcards for Cambridge 7115 Marketing mix (syllabus 3.3). Flip, recall, then mark a real past-paper question.
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What are the 4Ps?
Product, Price, Promotion, Place — controllable marketing variables.
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Why must the mix be coherent?
Premium product needs premium price, selective place, and brand promotion — mismatch confuses customers.
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Product in the mix?
What is sold — design, quality, brand, range, after-sales service.
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Place in the mix?
Distribution channels — where and how customers buy.
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Interdependence example?
Low price promotion of a luxury product can damage brand positioning.
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Marketing mix vs marketing strategy?
Strategy sets target market and objectives; mix is the tactical toolkit to reach them.
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Link to 3.1.6 segmentation?
Mix is tailored to each target segment — different segments may need different Ps.
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Extended mix (7Ps)?
Services add People, Process, Physical evidence — know 4Ps first for 9609 AS.
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What is meant by an 'interdependent' marketing mix?
The concept that the four elements (Product, Price, Place, Promotion) must work together harmoniously. A change in one element will likely require adjustments in the others to maintain a coherent and effective strategy.
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Define 'Place' in the context of the marketing mix.
Place refers to the distribution channels used to get the product from the producer to the final consumer. It includes decisions about logistics, intermediaries (e.g., wholesalers, retailers), and geographical coverage to ensure the product is available where and when the target market wants to buy it.
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What is price skimming?
A pricing strategy where a high initial price is set for a new, often innovative, product. The price is then gradually lowered over time. This strategy aims to maximise revenue from 'early adopters' before competitors enter the market.
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Differentiate between above-the-line (ATL) and below-the-line (BTL) promotion.
ATL promotion uses paid mass media (e.g., television, radio, newspapers) to reach a broad audience. BTL promotion uses more targeted methods over which the business has greater control (e.g., direct mail, sales promotions, public relations, sponsorships).
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What makes a marketing mix 'coherent'?
A marketing mix is coherent when all four elements are consistent, logical, and mutually reinforcing. For example, a high-quality product is matched with a high price, selective distribution, and promotional activities that convey prestige. This creates a clear and consistent message for the target market.