Answer to Question #218844 in Management for Khethiwe

Question

The marketing plan includes everything that has to be done to convey the product or service to the consumer or target market. Show how "4Ps" instruments or stepping stone become a necessary in making the plan work (function)

1. The product

2. The price

3. The place

4. Promotion

Answer 1

Product- a product exists to solve a problem or to satisfy a need that customers have. advertising a product and selling high quality product help in achieving the marketing plan an achieve the target.

Price- What a customer pay is called a price. Marketers use prices to achieve their target by adopting the business strategy might choose to inflate the price, based on a luxury component or brand image or Business strategies might consider a cost leadership strategy by trying to beat the market with the lowest price.

Place- As a strategy, place has become a more significant component of marketing success. Place involves where the product is stored, perhaps even where it is manufactured.

Promotion- It is directly related to three other 3 Ps.The promotional strategy aims to show consumers why they need to buy this specific product over others. The time