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How the 4P's will influence the marketing of an establishment.
Member rating: No Rating | Words: | Submitted: Tue Nov 11 2003
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How the 4P's will influence the marketing of an establishment The Marketing mix is concerned with four variables: * Product * Place * Promotion * Price An appropriate combination of these four variables will help to influence demand. The problem facing small businesses is that they sometimes do not feel able to sufficiently control each of the four variables in order to influence demand as much as they would like to. Product This is what can be offered to a market for attention, acquisition, use or consumption. Strategies determine the benefits that customers will secure from their purchase. These strategies can be categorized into two headings, product growth strategy and competitive product strategy. PRODUCT GROWTH STRATEGY Normally intended at producing a better or different product to increase the establishment's opportunities for increased market potential, by attracting either a new or different customer. The corporate objective of this strategy is to either improve sales figures or to achieve greater profit contributions. COMPETITIVE...
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