The 4p's Marketing Mix
Product
we buy things not only for what they do (benefits) and also what they mean to us (status, quality, or reputation).
Marketing mix
A unique blend of product, place, promotion, and pricing strategies designed to produce mutually satisfy-ing exchanges with a target market.
Promotion
Advertising, public relations, sales promotion, and personal selling
Price
An important competitive weapon and is very important to the organization
Promotion
Is to bring about mutually satisfying exchanges with target markets by
four Ps
Product, place, promotion, and price which together make up the marketing mix.
Place
involves all the business activities concerned with storing and transporting raw materials and finished products.
Price
Raise or lower prices more frequently and easily than they can change other marketing mix variables.
Price
What a buyer must give up to obtain a product.
Place
A part of this place "P" is physical Distribution.
Place (Distribution) Strategies
Concerned with making products available when and where customers want them.
Promotion
Informing, educating, persuading, and reminding them of the benefits of an organization or a product.
Promotion
Integrated marketing communications activities and Technology-driven aspects and social media aspect
Price
Most flexible of the four marketing mix elements--quickest element to change.
Product
Physical unit, package, warranty, after-sale service, brand name, company image, value, and many other factors.
Product
the chocolate itself, a fancy gold wrapper, a customer satisfaction guarantee, and the prestige of the brand name. Product example Godiva chocolate
Place
the goal is to make sure products arrive in usable condition at designated places when needed.