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4 P’s of Marketing Marketing Mix Marketing mix is one of the business tools used in marketing for determining the four P’s i.e. Price, Promotion, Product and Place. The marketing mix provides a set of policies based on these four P’s which have an impact on a customer’s purchasing decision.
The reason behind the success of a business includes a long process where the achievement of success depends on the marketing. The success associated with the marketing process depends upon various marketing strategies and these marketing strategies deal with 4 P’s of marketing. Thus, the implementation of marketing strategies in an appropriate manner is very important in order to achieve success by an organization. In other words, the marketing mix is the combination of all the marketing plans made by an organization (Belohlavek, 2008). Each of these four P’s is very important factors for an organization in order to create such marketing mix which will easily attract customers towards the organization. It helps in determining the profit potential of an organization. Product Product means the goods/services which are offered to the customers by an organization. Apart from the offering of the physical product, there are various other elements associated with the product which helps in attracting the customers. It can be the packaging of the product, any additional feature in the product etc. In case of service product it is the quality of services, the facilities provided to the customers, etc which help to attract the customers towards the organization. ...
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