Answered: Explain the four Ps of marketing?

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

Problem 1.1DQ

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Explain the four Ps of marketing?

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The four elements that a marketing mix is made up of are Product, Price, Place and Promotion. These are the key components that are involved in the marketing of the products and services. These are the four factors that a marketer has to consider while they are deciding how to go about marketing their products among the customers.

Formulation of the marketing strategies using these four P's helps the company to know about the activities of their competitors and the expectations of the customer so that they can manufacture those products which satisfy the needs of the customer along with giving a competitive advantage to the company.

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