Question 1: Define the term 'Marketing Mix' and briefly explain its importance for a business.

Answer: The Marketing Mix refers to the four key elements (Product, Price, Place, Promotion) that a business uses to meet customer needs and achieve its marketing objectives. It is important because it helps the business attract customers and remain competitive.

Question 2: Describe a scenario where a business might change its product to better meet customer needs. Use an example of a product or service.

Answer: A mobile phone company might introduce a new model with better camera quality and longer battery life to attract more customers and meet the demand for advanced features.

Question 3: Explain how a business can use price strategies to attract more customers. Give one example of a pricing strategy.

Answer: A business can lower prices temporarily to attract customers or offer discounts to increase sales. An example is penetration pricing, where a new product is introduced at a low price to gain market share.

Question 4: Imagine a business selling luxury watches. Describe a suitable place (distribution channel) for selling these watches and justify your choice.

Answer: Luxury watches are best sold through high-end retail stores or exclusive boutiques because they target premium customers who expect a high-quality shopping experience and added prestige.

Question 5: Describe two different promotional methods a clothing brand might use to advertise their new collection.

Answer: They could use social media advertising to reach a wide audience and collaborate with influencers to promote the new collection. Additionally, they might run a special launch event to attract media attention and customers.

Question 6: Sketch a simple promotional poster for a new eco-friendly water bottle. Your drawing should include a catchy slogan and visual elements.

Answer: A clear, eye-catching poster featuring an image of the water bottle, a slogan like 'Stay Green, Stay Hydrated', and some natural imagery such as leaves or water droplets. The layout should be simple and attractive.

Question 7: Explain why packaging is an important part of the 'Product' element of the marketing mix. Provide an example.

Answer: Packaging protects the product, attracts customers, and can communicate the brand's message. For example, a chocolate box with colorful and attractive design can entice customers to buy it.

Question 8: A sportswear company wants to expand into international markets. Which aspect of the marketing mix might they need to adapt for different countries, and why?

Answer: They might need to adapt their promotion strategies, such as advertising in different languages or using culturally relevant messages, to appeal to local customers in each country.

Question 9: Given the four Ps, which element is most directly related to customer satisfaction and why?

Answer: Product, because the quality and features of the product directly affect whether customers are satisfied with their purchase.