“The marketing mix is probably the most well-known marketing term. Its elements are basic, tactical components of a marketing plan. Also recognized as the Four P's, the marketing mix elements are price, place, product, and promotion. The concept is simple. Think about another common mix - a cake mix. All cakes contain eggs, milk, flour, and sugar. But, you can change the final cake by altering the amounts of the mix elements contained in it. So for a sweet cake add more sugar”
(a) Why marketing mix is so significant for small businesses as well as enormous multinationals in the service industry?
(b) Price is a sensitive issue unless the market demand is extremely high for the product or service. Elaborate on the key pricing strategies of marketing.
When the customer pays for a product or service, it is supposed that the product will work correctly or that the service received is as promised. Ideally, the customer will be satisfied, and there will be no complaints.
(a) How should a business deal with the customer complaints?
(b) Customer care is at the heart of any successful service organization. What is the significance of customer care?
Integrated Marketing Communications is a term employed to describe a holistic approach to marketing. It aims to ensure consistency of message and the complementary use of media. The concept comprises offline and online marketing channels.
(a) Illustrate fully the reasons for the growing significance of Integrated Marketing Communication.
Whether in the workplace or on the football field, or even amongst members of the community, effective teamwork can produce incredible results.
(a) An effective team leader needs different characteristics to encourage high level of morale and make employees feel supported and valued. Discuss and describe the different characteristics that a team leader needs.
(b) The significance of teamwork is presented in every seminar you attend or business book you read. What is the significance of teamwork to employees and service companies?