36 exam-style questions on Marketing planning — topic 4.2 of Marketing in the IB Business Management syllabus — with answers and explanations. Samples below; the full set is free with an account.
In the marketing mix, which element of the 7Ps refers to the systems and steps a customer moves through when receiving a service?
Answer: Process
Process is the extended-P covering the flow of activities by which a service is delivered; physical evidence is the tangible environment, not the flow.
A firm sets its price just below a whole number, e.g. €9.99 instead of €10, to make the product seem cheaper. State the pricing strategy being used.
Answer: Psychological pricing
Psychological pricing exploits how consumers perceive prices; €9.99 is read as closer to €9 than €10, unlike cost-plus which adds a margin to unit cost.
A new technology firm launches an innovative smartwatch with no direct competitors and sets a high initial price to target early adopters. Identify the pricing strategy.
Answer: Price skimming
Price skimming charges a high launch price to exploit low price sensitivity among early adopters, later lowering it; penetration pricing does the opposite with a low entry price.
Which of the following is the best example of a business improving the sustainability concept through its 'Product' element of the marketing mix?
Answer: Redesigning packaging to be fully recyclable
Redesigning the product/packaging to reduce environmental impact links the Product element to sustainability; the other options relate to promotion, place and price.
In the marketing mix for a service such as a hair salon, staff attitude and expertise are captured by which additional P?
Answer: People
People refers to employees who interact with and influence the customer's experience of a service, a key intangible factor in services marketing.
A supermarket sells bread below cost to attract shoppers who then buy other higher-margin items. State the pricing method described.
Answer: Loss leader
A loss leader is priced below cost to draw customers in, relying on additional profitable purchases to offset the loss on that item.
That was 6 of 36 Marketing planning questions.
Practise all 36 freeDefineAO1 · 2 marks
Give the precise meaning — one sentence, the key terms in it, no example needed unless asked.
OutlineAO1 · 2 marks
A brief account or summary: the main points in two or three sentences, no evaluation.
StateAO1 · 2 marks
One word or one short sentence. No explanation, no working: the mark is for the fact itself.
36 Marketing planning questions — free with an account. Spaced repetition, streaks and full exam simulations included.
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