Influcences and Changes (AQA A-Level Business): Flashcards
📚Flashcards
Practise the cards
10 cards from this deck
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Practise the cards
10 cards from this deck
No. of Ps in extended marketing mix
No. of Ps in extended marketing mix
Seven
Industry where Process (7th P) is especially relevant
Industry where Process (7th P) is especially relevant
Service industries
How profit levels affect pricing flexibility
How profit levels affect pricing flexibility
Enable price cuts short-term via financial reserves
How healthy cash flow expands distribution
How healthy cash flow expands distribution
Allows trade credit terms to retailers
Marketing mix element insurance firms emphasise most
Marketing mix element insurance firms emphasise most
Promotion/advertising
Price skimming strategy
Price skimming strategy
High initial prices for new tech to recover R&D costs
How technology transformed Place element
How technology transformed Place element
Enabled internet downloads, eliminating physical distribution
What primary market research informs
What primary market research informs
Product design, pricing, target market identification
Example of tech driving new products
Example of tech driving new products
Battery advances enabling efficient electric cars
How competitors' actions drive innovation
How competitors' actions drive innovation
Pressure to match or exceed rival product features