IGCSE Business Studies Practice Exam 2025 – Complete Study Guide

The four P's of marketing, also known as the marketing mix, specifically refer to Product, Price, Place, and Promotion. This framework is essential for businesses as it helps them to strategize effectively in marketing their products or services.

- **Product** refers to what the business is selling, including the quality, features, branding, and packaging that make it appealing to customers.

- **Price** encompasses the strategy behind how much the product or service will cost, considering factors such as competition, perceived value, and production costs. Pricing strategies can greatly influence demand and profitability.

- **Place** involves the distribution channels used to deliver the product to consumers, including locations, logistics, and the accessibility of the product. The goal is to ensure that products are available to customers where and when they want them.

- **Promotion** refers to the various ways a business communicates with its target market, including advertising, sales promotions, public relations, and personal selling. Effective promotion raises awareness of the product and attracts customers.

The other choices represent varying concepts that either do not accurately define the marketing mix or include unrelated marketing terms that have different implications in strategic business planning.