How To Write 4 P’s Marketing Mix Assignment?
Marketing is a channel that helps businesses to develop sales by reaching the right audience. Market research and analysis can make the company grow successfully. The Marketing Assignment Help is the concept that provides a report to analyze the market from 4 P's which are product, promotion, place, and price. All these components help businesses to boost sales.
Two Types of the Marketing Mix: -
- The service marketing mix is designed to offer high-quality services that meet the expectations of the audience within the budget.
- The product marketing mix is the usage of marketing resources for a product’s success.
Product: It is an item or commodity that is promoted by businesses to attract customers. To deploy a product, it is essential to know about the demands and expectations of the customers. Also, the features and their cost value should be taken into consideration before introducing it into the market. Various functions need to be checked as to which is increasing the amount. It is, however, important to study the products available in the market and what new they are going to introduce in the market. Various other aspects include color, size, name, marketing strategy, etc.
Price: It is the money that is paid by the consumer to the seller and differs on the different distribution channels. Price plays an important role and determines the company's profit, and it has much impact on the formulated marketing strategy, and the price variation of the product affects the demand and sales. There are few pricing techniques used to provide an estimate of the pricing of the goods and services such as cost recovery pricing, penetration pricing, and price skimming.
Place: Refers to the distribution channel through which the consumer receives the product. There are many types of strategies such as intensive distribution, selective distribution, exclusive distribution and franchising which are utilized by the marketer to complement the other aspects of the marketing mix.
Promotion: Promotion is done to promote the product or services. It can be seen on TV, the Internet and Newspaper. Marketers take the support of various communications means to convey the product, brand or organization to the consumers.
Marketing experts learn about the market and resources through practical implementation. They work hard to get knowledge of different marketing concepts to generate maximum revenue from the audience. It is a delicate act for students to write assignments on marketing mix and for this reason, they look for Assignment Help.
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