How do you do 4 P’s in marketing explains with an example?
Marketing is an important tool that generates, discover and distribute the value of the goods and the services to meet the customer requirements. It covers the process of finding the potential consumers to sell the product and the services to them. For that, it requires lots of research and market strategies to create the valid reports and the targets of the companies. To achieve this target the simple method that companies employs is the four Ps of marketing strategies.
The four Ps are the initial letters of the four important strategies in the marketing which are as follows:
Product
Place
Price
Promotion
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It is important that every student of marketing understand the fundamentals of these four elements that will help in growing any business. It is important that we should know how to present a product in a given market with the right place at the right time with the appropriate price. For that it requires keen observation and the right data of the targeted audience to meet the mutual demands of the industry and the people. All of it makes the entire process a nerve raking thing that they are not able to handle appropriately.
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