MRKT - Essay Example

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MRKT

The 4P’s are product, place, price and promotion. This marketing mix brings together the four elements to yield the desired results in the target market and has been used by companies over the years to overcome the physical barriers that hinder general adoption of a product. This strategy can be use to help my father manage his business in a better way. PRODUCT OR SERVICE The product or service should be in line with the requirements of the public and their prospective customers. It is important to note that with growing market and ever changing customer needs, companies must develop their products and services to stand out in the highly competitive market (Armstrong and Kotler 5). When developing products, it is imperative to consider various aspects including quality, packaging, customer service as well as consequent after sale services. Product differentiation plays an important role at this juncture as it enables products to be noticeable in the market (Armstrong and Kotler 5). In addition to, product variation enables the company to satisfy the diverse needs of the customers. With regards to services, companies must ensure provision of top notch service that is unmatched in the specific industry to gain prominent in the market place. ...Show more

Summary

Name Professor Module Date 4P’s Marketing Strategy Marketing is an important business task that involves the establishment of the consumers’ needs, determination of the target markets and identifying the products and services that are fit for these markets (Armstrong and Kotler 3)…
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