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This video explains
"The key terms and concepts a person needs to know to feel competent in a marketing meeting ..."
Marketing decisions generally fall into the following 4 controllable categories:
* 4 P's of Marketing
Product : Product design, Branding, Functionality, Styling,Packing, safety,Services,Warranty
Place : Media,Distribution channel, Market coverage, Warehousing, Distribution centers, Transportation, Reverse logistics
Price : Pricing strategy, Suggested retail price, Discounts & wholesale price, Cash and payment distcounts, Seasonal pricing, bundling, Price flexibility, Price discrimination
Promotion : Promotional Strategy,Ads,Personal selling, Public relation, Marketing communication budget.
Limitations :
Marketing 4 p's was useful in early days of marketing concepts . Since today marketing is more integrated with the organization and with wider variety of products and market , some experts feel to include another " P"
which is people, packing , process . Despite its limitation, it is universally accepted because of its simplicity.
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