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Marketing is about responding to consumers' needs.
Member rating: No Rating | Words: | Submitted: Fri Oct 24 2003
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Market Research Theory Marketing is about responding to consumers' needs. It is very important to find out what these needs are before a marketing plan is put together. I am doing this theory to help other people understand the complex tasks that businesses go through to complete their market research. The 4Ps and the marketing mix The 4Ps are the ideas to consider when marketing a product. They form the basis of the marketing mix. Getting this mix right is critical in order to successfully market a product. The 4Ps are: 1. Product 2. Price 3. Promotion 4. Place Product Price Promotion Place A product can be either goods or a service that is sold either to a commercial customer or an end consumer. A customer buys a product, and a consumer uses it. Sometimes these are one and the same, as an industrial firm can also be a customer and a consumer. No matter how...
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