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Questions and Answers
Which of the following is NOT one of the four elements of the marketing mix?
Which of the following is NOT one of the four elements of the marketing mix?
- Production (correct)
- Promotion
- Pricing
- Product
What is the central component of strategic planning?
What is the central component of strategic planning?
- Designing a unique product
- Developing a coherent distribution plan (correct)
- Creating a strong promotional campaign
- Setting competitive pricing strategies
What are the three broad approaches to distribution at the strategic level?
What are the three broad approaches to distribution at the strategic level?
- Online, offline, and omnichannel
- Mass, selective, and exclusive (correct)
- Retail, wholesale, and franchise
- Direct, indirect, and hybrid
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Study Notes
Marketing Mix
- Price, Product, Promotion, and Place are the four elements of the marketing mix.
Strategic Planning
- The central component of strategic planning is the company's mission.
Distribution Strategies
- The three broad approaches to distribution at the strategic level are:
- Intensive distribution, where a product is stocked in as many outlets as possible.
- Selective distribution, where a product is stocked in a select number of outlets.
- Exclusive distribution, where a product is stocked in only one outlet or a limited few.
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