How Marketing Affects My Choice

The four P’s of marketing are product, price, place and promotion. Product is a good or a service that is intended for the consumers based upon their wants or needs. Price is the set price on the product. The price will depend on the targeted consumer, the economy, and the location. Place is merely the location in which the company decides to distribute the product. Promotion is the way the company decides to advertise their product to the public. (Griffin, & Ebert, 2003).

Product, Price, Place and Promotion also commonly known as the 4P’s are the major factors or tools with which a firm or an organisation operates in the market by offering a superior value proposition to its clients and customers and thus earning value back from them in return to achieve the objectives of its shareholders. These 4P’s are combined together to form the marketing mix of a firm.

Marketing - The marketing function is responsible for identifying, anticipating and satisfying customer requirements. The marketing function have to carry out market

Market Definition: What category is your brand competing in and in what context does your brand have relevance to your customers?

The Macro-environment, factors outside of a firms control, have a major affect on a firms marketing approach and as a cause, these factors outside the firms control are harder to monitor, some of the factors are unpredictable and restricting. To over come this firm sets its marketing approach, also known as the Four P 's (appendix 1); around the Macro-environment to ensure that a firm 's product is an overall success. The Four P 's approach has been criticized arguing, "That they do not take sufficient account of people, process and physical

The four P’s of a marketing mix are as follows, product, price, place, and promotion. Each of these offers a marketing parameter for the management and company team to control. With each marketing tool there are decisions that should be met as far as the business is concerned. Therefore, there is a list for each one that should be analyzed to meet the business standards.

* To cover the 4 p’s of marketing such as product development, branding, pricing, promotion, and distribution.

It is crucial for marketers to consider 4 P’s when coming up with a marketing plan: product, price, promotion and place. These 4 P’s, proposed by E. Jerome McCarthy in 1960, are ingredients of the marketing mix.

1. Consumers are often` confronted with incomplete information. How do consumers deal with incomplete information for (a) attribute values (b) brands? (give examples)

The 4 P’s of marketing concept has a long and distinguished lineage and is widely acknowledged as the cornerstone of the discipline. Its development is credited to a prolific marketer, E. Jerome McCarthy who proposed the 4P classification in the late 50’s (Schultz, 2001, p.7). Associated with price, product, promotion, and place, this business tool has served as a mantra for marketing managers and those in the marketing field to identify and provide consumer needs (p.7). Researchers established that the model offers a method of managing the functional activities of an organization: the product development, distribution through the channels, the price and margins and the promotional or communication flow (p.7).

For every company these fours are very important. Product is like what product company selling they should give the proper information about their product so everyone know about what actually you have.

Mela, Gupa and Lehmann（1997）studied the long term influences that promotions and advertisements have on the choices of brand with empirical examples. They chose the product category of mature period, so that they can avoid the influences from the products’ own life cycle factors. They mainly focused on two problems, which is shown as below:

Product: product is like what company have for selling, so company need to give proper information of their product, so peoples known about what they are gaining and what company is selling.

D1. 4Ps: Discuss each of the four Ps of marketing as they relate to the company’s products and services.

Marketing is an economic process by which goods and services are exchanged between the producers and consumers and their values is determined in terms of money prices.