Describe the 4 Ps of the marketing mix, how they are used by management, and how they relate to each other
What will be an ideal response?
The 4 Ps of the marketing mix are product, price, place, and promotion. Businesses must be sure to market the right product to the right target audience through the right promotion at the right price in the right place. The 4 Ps influence each other, as failure or success in one area affects the choices made in the other areas. For example, if the place decision requires that the product be available in widespread locations, the price of the product may need to be higher to accommodate increased shipping and warehousing costs.
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