Identify and define the traditional four Ps. Also identify the new four Ps and the reason for developing the new interpretation
What will be an ideal response?
The traditional four Ps are:
1. Product (product variety, quality, design, features, brand name, packaging, sizes, services, warranties, returns)
2. Price (list price, discounts, allowances, payment period, credit terms)
3. Promotion (sales promotion, advertising, sales force, public relations, direct marketing)
4. Place (channels, coverage, assortments, locations, inventory, transportation).
However, given the breadth, complexity, and richness of marketing, as exemplified by holistic marketing, these 4 Ps are not the whole story anymore. Updating them to reflect the holistic marketing concept, researchers in this field arrived at a more representative set that encompasses modern marketing realities: people, processes, programs, and performance.
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An MPR professional most likely supplements a firm's connector list by
A) asking competitors of the firm to share their lists. B) relying on commercially available databases. C) individually monitoring thousands of Websites, blogs, and social networks. D) randomly choosing connectors they assume audiences are watching. E) attending special connector networking events designed just for this purpose.
Retirement plans, such as a 401(k), allow employees to defer taxes on the plan contributions until such time as the funds are withdrawn from the retirement plan
Indicate whether the statement is true or false.