IGCSE Travel and Tourism 2025 – 400 Free Practice Questions to Pass the Exam

The correct answer is the marketing mix, which refers to the combination of four fundamental elements used to market a product or service effectively. These elements are product, price, place, and promotion, often referred to as the "4 Ps" of marketing.

This strategy is designed to ensure that a business can successfully address the needs and desires of its target market. The product element encompasses what is being offered, including its features and benefits. Price relates to how much consumers pay for the product, influencing their purchase decisions. Place refers to distribution channels through which the product is made available to customers, ensuring accessibility. Finally, promotion includes all the communication methods used to inform and persuade the target audience about the product.

Other options provided do not encapsulate this comprehensive strategy. Market research focuses on gathering data to understand consumer needs and preferences but does not directly involve the four elements of the marketing mix. Market segmentation refers to dividing the broader market into smaller segments to tailor marketing efforts to specific groups, while branding strategy is centered on developing a unique name and image for a product in the consumer's mind, which is just one aspect of the broader marketing mix. Thus, the marketing mix serves as a foundational framework for businesses to develop effective marketing strategies.