The Four P's of Marketing

Pricing is important when marketing a product. The determining factor for the pricing is the material, time to make, amount spent on marketing and promotion of the product. The goal in providing such a product that is moderately

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Nowadays, for a company to be successful in the business world one must have a good marketing plan to be successful. One way to accomplish a successful business plan is to use something known as the marketing mix or the four P’s of marketing. These four P’s of marketing are known as the product, place, price, and promotion. If one uses these four P’s one will notice that each of these cover their own part in marketing, which will help make a successful marketing plan. In this paper one will see what each of these four P’s are in marketing. Also one will see how each of these four P’s is used in the marketing plan for Dutch Bros Coffee.

The marketing mix is composed of the combination up to four controllable factors which include product, promotion, place and price. These four are commonly termed as the four P's. Product is normally regarded as a tangible good or in other cases an intangible service. All products follow a logical product life cycle which is vital for marketers to comprehend and thus plan for several stages and thus any of their unique challenges. The price is the actual amount the buyer is expected to willfully pay for a product. How a product is priced will directly affect how it sells. The promotion entails sales promotions, public relations, special offers and . Whatever the channel used, it is necessary for it to be suitable for the product, the price and the end user it is being marketed to. The place concerns where the product will be provided by to the customers. Distribution is also a key factor and element of placement. In most cases, the placement strategy will normally help assess what channel would be the most suited to a product. They are known as variables because they change over time and takes different values in different occasions.

Price is the value which is paid by the buyer to the manufacturer against the products and services. It is the value of the product mentioned by the seller to the consumers Pricing decisions are one of the crucial factors that shapes by cost factors, profit margin, and possibility of sales at different price levels and the competitor's pricing policy as well as with the number of existing competitors in the market. Pricing is the most critical element of the marketing mix and firms must make strategic preferences about how to price their product to achieve their business goals in the best possible manner by considering the demand and supply relationship. Unlike the three

1) Of the following successful marketing strategies in the past, today 's Nike has learned that the most important is ________.

The marketing segmentation concept allows a company to focus on a specific group of customers that it is best prepared and suited to satisfy. Rather than trying to be all things to all people, selecting a target market enables a company to tailor its offerings to more specific customer needs and preferences (Schewe & Hiam, 1998, p. 200). When a company focuses its efforts and capital (both tangible and intangible) on a more narrowly defined set of needs, it is more likely that the customers will get the product they desire. Companies that use the marketing segmentation concept typically have a more intimate knowledge of the customers they target, and customers usually relate better with companies that understand their interests. As such a relationship is built.

Suppliers – entities that provide the materials used by an enterprise for its production or operations

The aim of this business report is to deepening the comprehending and understanding of marketing concepts based on an article. It was found five marketing concepts, however, this report will discuss three out of five marketing concepts that implies between price, product and brand. The most important concept based on the article is prices which will represent marketers’ value in the product or services and maintain demand and supply relationship.

The new era slogan could be “His Majesty the Customer."  Businesses recognize that one single product is not right for everyone, so consumers are classified into groups -market segmentation - and these groups will then be assessed what are the needs of these consumers. This is called market research.

To launch a new product to account the market share and get fat profits in this changeable and competitive market today is not a simple work. According to the Chief Marketing Officer in the AMA () , it is told that the new definition of marketing has changed marketing to an educational process. This means that the mainly role for marketing is going to take on the needs of the customers and stir the launch for new products to deliver the values to make the final customer happy. In this article, centering on the customer needs in the marketing, it will analyze and evaluate the role played by marketing during the process of developing a new product, using the STP and Marketing Mix Four Ps theory systems.

* Placement or distribution refers to how the product gets to the customer; for example, point of sale placement or retailing. This fourth P has also sometimes been called Place, referring to the channel by which a product or service is sold, which geographic region or industry, to which segment (young adults, families, business people), etc.

Secondly, of all the aspects of the marketing mix, price is the one, which creates

Dear students, this document will give you the detail idea about your module assignment. This assignment consist two parts i.e. one write up and a presentation. First we discuss about the write up’s outline then about the presentation. Well, let’s see…. The write up: As you know, marketing mainly deals with the value of the product. We have to add superior value to our product to capture the customer base. All the participant of the market makes a value proposition to win the customer and at the end of the day they sell their product. A particular product captures the market according to its level of value creation. In our daily life we see lots of product around us consist this value

Firstly is the “Marketing Mix” aspect, specifically the 4 P’s framework – Product, Pricing, Placing & Promotion. The 4 P’s is one of the best known frameworks for a marketing plan, of which the aim is ultimately to fulfil a basic marketing purpose – Putting the right product in the right place, at the right price, and at the right time. Getting all aspects of this framework is