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.

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

Things that are needed for a product:-

-Physical goods
-After sales

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

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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