GCE Commerce 1990 Theory question 109

(a) The marketing concept is the business philosophy that a firm achieves its goals (profit) by finding out the needs and wants of consumers and satisfying them better than competitors – the consumer comes first.
(b) Product – designing the right goods (quality, features, packaging, branding) to meet consumers' needs.
Price – setting a price consumers will pay that also covers cost and gives profit, taking competitors' prices into account.
Place (distribution) – getting goods to where consumers can buy them through suitable channels and transport.
Promotion – informing and persuading consumers through advertising, personal selling, sales promotion and public relations.

The 4 Ps: product, price, place, promotion.