Question

Match the components of Marketing Mix given in Column I with their Meaning given in Column II. Identify the correct option from those given below:

• A. (1)-(a), (2)-(b), (3)-(c), (4)-(d)
• B. (1)-(c), (2)-(d), (3)-(a), (4)-(b)
• C. (1)-(d), (2)-(b), (3)-(c), (4)-(a)
• D. (1)-(a), (2)-(d), (3)-(c), (4)-(b)

Hint:

To easily remember the core functions of the 4 Ps: $\text{\textbf{Product} (Value creation)} \to \text{\textbf{Price} (Value capture)}$ $\text{\textbf{Place} (Value delivery)} \to \text{\textbf{Promotion} (Value communication)}$

Answer 1

The Correct Option is B

Step 1: Conceptualizing McCarthy's 4 Ps of the Marketing Mix:
The marketing mix represents the set of tactical tools that a business uses to influence demand and achieve its marketing goals. It is commonly organized around the 4 Ps: Product, Price, Place, and Promotion.

Step 2: Matching each P with its definition:

• Product (1): The physical item or intangible service offered to customers to satisfy a specific need. This matches: (c) It refers to the item actually being sold.”
• Price (2): The monetary value or cost that customers must pay to purchase the product. This matches: (d) It refers to the value that is put on the product.”
• Place (3): The channels of distribution, retail locations, and logistics used to make the product accessible to target customers. This matches: (a) It refers to the point of sale.”
• Promotion (4): The communications strategies (such as advertising, public relations, and sales promotions) used to build awareness and drive sales. This matches: (b) It refers to all activities undertaken to make the product or service known to the user and trade.”

Step 3: Finding the matching combination:
The correct matching sequence is (1)-(c), (2)-(d), (3)-(a), (4)-(b), which corresponds directly to option (B).