Final answer:
The four Ps of the marketing mix, as classified by McCarthy, are product, price, promotion, and place. Option 5) product, price, promotion, and place is therefore the correct answer. These components represent the key aspects marketers must consider to effectively market their product or service.
Step-by-step explanation:
McCarthy classified marketing activities into the four Ps of the marketing mix. These four Ps stand for product, price, promotion, and place. Therefore, the correct answer to the question is option 5) product, price, promotion, and place.
The concept of the marketing mix is a foundational model in marketing that outlines the key components that marketers must consider to effectively market a product or service. Product refers to what is being sold, including its quality, design, features, branding, and packaging. Price involves the cost consumers are willing to pay and the pricing strategy employed.
Promotion encompasses various communication and advertising tactics used to inform and persuade customers. Lastly, Place involves how the product or service is distributed and where it is available, which can significantly impact sales. Place product packaging, as mentioned in the context provided, is related to the physical appearance and location-related strategies chain stores use to attract and retain customers.