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discuss the " The 4 P's " of marketing. Clarify which are more important when marketing...

discuss the " The 4 P's " of marketing.

Clarify which are more important when marketing to consumers vs business as well as marketing a product vs. service


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Answer #1

The 4 P’s of marketing are

1. Product. It includes product differentiation, product quality etc.

2. Price. It includes the price and the pricing strategy of the product.

3. Place. It refers to the distribution part of the product and services.

4. Promotion. It deals with advertising and selling part of the product or services.

Each of the 4 P’s is a variable that control the marketing mix of a business for its product and services. The product is most important when marketing to consumer vs business as well as marketing a product vs. service because if the product is good, customers are ready to pay good price for it and Place & promotions are also dependent on a good quality product.

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