Question

what are the four P's in marketing

Answer 1

Marketing is most commonly understood as an amalgamation of 4 P’s: Product, Price, Promotion, and Place. Products involves goods or services that can be tangible or intangible in nature. These are aimed towards meeting a customer’s demands. Next, price is the cost of the value of the product. It determines how much quantity of the product will be ultimately sold and at what margin of profit or loss. Next, techniques and strategies of communicating the product to the customers fall under promotion. It includes advertising, public relations etc. Finally, the place component involves how the product will finally reach the customer.