Transcript
4 P’s of Marketing Assignment Help
By Essay Corp
What is Marketing?
• Marketing is the management and regulation related to buying and selling a product or service.
• It is also done to gain customers and to maintain a cordial relationship with them.
4 P’s of Marketing are Mentioned as Follows:
1.Product2.Place 3.Price 4.Promotion
What is the Marketing Mix?
• This marketing tool is used by marketers and businessmen for selling of products and services.
• All the components of the marketing mix influence each other and conspire to become strategy of the company.
Price :
• Price is the cost of the product or service. • It can also be called the value of the product.• It largely depends on the production cost and
the rate of supply and demand. All the above mentioned helps in deciding the price of the product.
Product :
• Product is the thing that the organisation or the company is willing to sell or is selling.
• It includes the elements and characteristics of the product that should influence the consumer base.
Place:
• Place is the point of exchange of the product from where the buyers gets the product.
• It is important that the place of exchange should be reachable to the target customer.
• Therefore, it is important that the location should be good.
Promotion:
• This is how people get to know about the product or service. Through promotion and creating awareness about the particular product and services.
• It is also related to the advertising and promoting. This is done by different ways banners, brochures, tv, newspapers and etc.
Importance of Marketing Mix
As these factors are interdependent on each other and hence helps in elaborating on the business plan of the organisation.
HOW TO USE 4 P’s OF MARKETING ?
A series of questions designed to help define marketing mix are as follows:• What are the customer expectations from your service
or products ?• How will your product meet those expectations ?• How will you differentiate your product from your
competitors ?• Current interactions with your clients ?
Thank You
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