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Unit 3- Marketing
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- Words:
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- Submitted:
- Fri Jun 03 2005
... UNIT 3- MARKETING Most of the major marketing strategies can be classified into one of the following four categories: * Product * Place * Price * Promotion These four categories are known as the marketing mix or the four P's of marketing. These are variables that the marketing managers have to control in order to satisfy their customers. Below is a diagram of how the marketing mix comprises. Product: looks at the physical product or service offered to the consumer, it also refers to the service or the conveniences that are part of the offering. Product decisions include aspects such as: function appearance, packaging, service, warranty and any other elements related with the product. Price: Pricing decisions should take into account profit margins and the probable pricing response of competitors. Pricing does not only take into account the list price but also looks at: discount, financing and other options such as leasing. Place: The place or placement serves as
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