As Intangible Services Have Increased in Their Importance the Marketing

question 2

Multiple Choice

As intangible services have increased in their importance the marketing mix, the 4Ps theory has been further developed to incorporate an additional 3Ps; creating the 7Ps of services marketing. These new 3Ps include:

• A) people, profit and processes.
• B) processes, promotion and people.
• C) physical evidence, people and processes.
• D) place, people and processes.

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Definitions:

Political Issues

Matters related to government, policies, and political processes that affect how a society is governed.

Economic Issues

Challenges related to the production, distribution, and consumption of goods and services within an economy.

Economic Swings

Refers to the fluctuations in economic activity over time, including periods of economic expansion and contraction.

Supply Shortages

A situation where the demand for a product or service exceeds the available supply, often leading to increased prices and scarcity.