4P Marketing Mix Tools

Paper Summary:

This paper describes the "4Ps" of the marketing mix. The paper explains how these 4P marketing-mix tools, which include product, price, place, and promotion, each play a role in achieving desired marketing objectives.

From the Paper:

"The most basic marketing-mix tool is the product. This is the company's tangible offering to the market that includes the product quality, design, features, branding and packaging. Product can either be goods or a service that is available for sale either to an end customer or a commercial customer. A customer purchases a product and a consumer puts it to use. At times, a customer is also the consumer. For example a father might buy chocolates for his kids in which case the father is the customer and the kid is the end consumer. It is the task of the marketing manager to find out who his target market is what their product demand is, and offer it to them for sale at every stage in the sequence."

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