Question

1. As a simple review, find at least two examples of each cross-effect among the five Ps, either in this book or in some other resource.

2. Using an example from a current sport organization, illustrate the effects of price on the remaining four Ps. Describe scenarios that demonstrate both positive and negative effects.
3. In your estimation, does one of the five Ps have greater cross-effect than the others?

Answer 1

The five Ps in marketing (Product, Price, Place, Promotion, and People) can have cross-effects on each other. Price can impact the other four Ps in a sport organization, resulting in both positive and negative effects. The estimation of greater cross-effect varies depending on the context and industry.

Step-by-step explanation:

The five Ps in marketing refer to Product, Price, Place, Promotion, and People. Each of these factors can have cross-effects on the others in different scenarios. For example, a change in price can impact the remaining four Ps in a sport organization. If a sports team increases ticket prices, it may result in a negative effect on attendance (Place), a decrease in merchandise sales (Product), a reduction in promotional activities (Promotion), and a decline in fan satisfaction (People).

On the other hand, a positive effect of price can be seen if a sports organization decreases ticket prices. This can lead to an increase in attendance, more merchandise sales, increased promotional activities, and higher fan satisfaction.

Regarding the estimation of which of the five Ps has a greater cross-effect, it can vary depending on the specific context and industry. In some cases, price may have a significant impact on the other Ps, while in others, product or promotion may play a more dominant role. It is essential to analyze each situation individually to determine the magnitude of the cross-effects.