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The elements of the marketing mix: price, product, promotion and place answer explanations

Review worked answers and explanations for The elements of the marketing mix: price, product, promotion and place. Questions are built from approved learning objectives for AQA GCSE Business.

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Question 1

RiverRun Catering serves tourists while improving quality control; the case evidence includes average order value of ?9,525, sales of 760 units, and a 12% change in costs or demand. Which option best applies Explain features and impacts of price skimming, price penetration, competitive pricing, loss leader and cost-plus pricing?