4 P's of Marketing - The Marketing mix

Today, Market is very volatile and cautious. The customer expectations are very high and there is a cutting throat competition among the companies and customer who is really the bread butter for these companies has many choices. So , a perfect marketing strategy is must for any company to sustain in the market. The 4P's of MArketing are - Product, Promotion , Price and Place. There is one another P- Penetration is also plays a vital role in marketing mix strategy.
PRODUCTEvery company should have a product which really consumer wants to buy as per their expectations. So, before launching a product in Market, a company should first focus on a target segment as per various parameters i.e age, income, location etc. product should have the capability to differentiate from other available in the market.
PROMOTIONCustomers have to be made aware of the product. The two main ingredients are target market and cost. Here, company has to decide to adopt the BTL or ATL marketing.
PRICEThe price plays an important role for any product and it must be high enough to cover cost of prodcution and make a profit but low enough to attract customers.
PLACEPlace indicates the accessbility of your business service or products in the market.
So, all the young enterpreneur ready to face the hardcore truth of market and adopt the strategy which suits as per your requirement.
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