Business AS CIE
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enterprise as6 主题
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business-structure as6 主题
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business-structure the-different-business-and-economic-sectors
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business-structure business-ownership-sole-traders-and-partnerships
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business-structure business-ownership-companies
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business-structure business-ownership-co-ops-and-social-enterprises
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business-structure business-ownership-franchises-and-joint-ventures
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business-structure choosing-the-right-business-ownership
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business-structure the-different-business-and-economic-sectors
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size-of-business as3 主题
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business-objectives as3 主题
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stakeholders-in-a-business as2 主题
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human-resource-management as8 主题
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human-resource-management the-role-of-hrm
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human-resource-management workforce-planning
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human-resource-management recruitment
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human-resource-management selection-and-employment-contracts
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human-resource-management redundancy-and-dismissal
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human-resource-management employee-morale-and-welfare
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human-resource-management training-and-development
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human-resource-management management-and-workforce-relations
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human-resource-management the-role-of-hrm
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motivation as4 主题
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management as2 主题
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the-nature-of-marketing as7 主题
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the-nature-of-marketing the-role-of-marketing
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the-nature-of-marketing demand-and-supply
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the-nature-of-marketing markets
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the-nature-of-marketing consumer-and-industrial-marketing
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the-nature-of-marketing mass-marketing-and-niche-marketing
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the-nature-of-marketing market-segmentation
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the-nature-of-marketing customer-relationship-marketing
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the-nature-of-marketing the-role-of-marketing
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market-research as3 主题
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the-marketing-mix as6 主题
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the-nature-of-operations as3 主题
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inventory-management as2 主题
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capacity-utilisation-and-outsourcing as1 主题
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business-finance as2 主题
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sources-of-finance as3 主题
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forecasting-and-managing-cash-flows as1 主题
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costs as4 主题
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budgets as1 主题
the-marketing-mix the-elements-of-the-marketing-mix
Exam code:9609
An introduction to the 4 Ps
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The marketing mix (4Ps of marketing) provides a framework for businesses to create and implement successful marketing strategies
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The 4Ps are
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Product
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Price
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Place
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Promotion
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These four components work together to satisfy the needs and want of a target market while achieving the company’s objectives
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By understanding and manipulating the marketing mix, businesses can differentiate themselves from competitors
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The marketing mix
The importance of an integrated marketing mix
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An integrated marketing mix means that all elements of the marketing mix work together to support a business’s marketing goals
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Each ‘P’ must match and support the others to ensure a clear, consistent message for customers that meets their expectations
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If the elements are not aligned, it can confuse customers, weaken the brand and reduce sales
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Product
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The product must meet the needs of the target market in terms of quality, design, features, and reliability
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It should match what customers want and expect from the brand.
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E.g. A luxury skincare brand must ensure its product feels premium, with elegant packaging and high-quality ingredients
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Price
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The price must reflect the value customers place on the product, but it also needs to fit the overall strategy
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Pricing must match the product’s image
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E.g. A budget airline needs low pricing to match its no-frills service, while a luxury airline must justify higher prices with excellent service and comfort
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Place
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Place refers to where and how the product is sold
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The choice of distribution channel must suit the product and customer preferences
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E.g. A youth fashion brand might focus on selling online and through social media platforms, while a specialist tool company may focus on professional trade retailers
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Promotion
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Promotion must support the brand message and reach the target audience in a relevant way
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Methods and tone used must suit the product and pricing level.
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E.g. A premium watch brand might use magazine adverts and sponsorships, while a soft drink brand might focus on fun, colourful adverts on TikTok.
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Responses