Describe the marketing mix decisions (product, distribution, promotional, pricing) that marketers face. Choose a real-world product or service and apply the marketing mix decisions to it, explaining your choices

Principles Of Marketing
17th Edition
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Kotler, Philip, Armstrong, Gary (gary M.)
Chapter1: Marketing: Creating Customer Value And Engagement
Section: Chapter Questions
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Describe the marketing mix decisions (product, distribution, promotional, pricing) that marketers face. Choose a real-world product or service and apply the marketing mix decisions to it, explaining your choices

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Step 1: About Marketing Mix

The marketing mix, sometimes known as the 4Ps, is a group of crucial components that companies take into account when creating their marketing strategies. These four elements are Product (what the business delivers), Price (how much it charges for the good or service), Place (how and where it makes the product available to clients), and Promotion (how it communicates and promotes the product to the target audience). The marketing mix is a framework that assists companies in reaching their marketing goals by assisting them in making well-informed decisions to satisfy customer wants, effectively compete, and do so.

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