Business Studies

Information about the 4p's.

Marketing mix- The marketing mix is a recipe for effective marketing using the marketing mix when planning the marketing for a product allows for a consistent approach.

Price:
The main pricing strategies are:-
-Competitive pricing
-Cost-plus pricing
-Penetration pricing
-Price skimming
-Destroyer pricing
-Price discrimination


Product:
Things that are needed for a product:-

-Physical goods
-Quality
-Style
-Packaging
-Durability
-Installation
-After sales
-Branding
-Warranty
-Features

Place:-
Location:-
Place is about ensuring the supplies of a product are available on the market for potential purchasers to buy.

Promotion:-
The main objectives of promotion are:-
-To inform prospective customers of the product and the business
-To show the benefits of the product
-To persuade potential customers to buy the product
-To present a good image.



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