Marketing as a subject has different elements and sub-topics that need to be studied to attain a degree. The basic idea behind marketing is to promote goods and services in the market. The promotion can be done through different mediums, including advertisements in newspapers, hoardings, television, social media, etc. Promotion can also be done through phone calls or through personal visits. Marketing is not only about promotion but it also involves designing, making a logo, preparing a catchy slogan, etc. Students look for 4p of marketing assignment help services due to different strategies involved in marketing, the execution of plans keeping in mind the 4ps of the marketing mix, etc.
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Before introducing a product or a service in the market, businesses must evaluate the target market with the help of 4ps. 4ps are a part of the marketing mix used by the marketing managers to market a product or a service. It is a set of actions or techniques comprising of product, price, place and promotion. As per our 4p of marketing assignment help specialists, these elements of marketing mix are inter-related to each other thereby affecting one another. Let’s have an overview of each of them:
Product: They are the finished products or services to be sold to the customers in order to fulfill their needs. Before launching any product or service, the marketing manager studies the market and ascertains the importance of such launch. They foresee the acceptance and life of the product or service and make strategies. There are specific queries that need to be analyzed before launching a product or a service in the market. As per our 4p of marketing assignment help experts, these queries are related to expectations of the customers from the product or service being launched, how to add elements which can satisfy the needs of the customers, usage related queries, name of the product or service, its variants if any, color, size, etc.
Price: It is the amount that the customer has to pay to purchase a product or a service. In business, price decides the future of the organization and its profitability. Pricing of a product or a service is done through pricing strategies which includes neutral pricing, market penetration pricing and market skimming pricing. As per our 4p of marketing assignment help experts, price is an amalgamation of expenditure made on manpower, resources, machinery used and the expenses made on promotions. To develop a correct pricing it is necessary to ascertain the production cost involved in making the product or service and the price which the target customers are willing to pay.
Place: It is the area where the product or service would be made available to the end customers. The residence of the target customers, segmentation of the target market, procurement of resources, form of goods or service and the price, are the main factors which helps in deciding the place of distribution of the goods and services. At times, place is also referred to as distribution channels from where the customers can buy products or services. As per our 4p of marketing assignment help experts, a marketer can use some strategies to distribute his goods and services, including selective or exclusive distribution, franchising, intensive distribution, etc.
Promotion: In order to make the customers aware about the product or service, marketers use different methods and tools of communication. The communication channels can take the form of online marketing, banner or hoardings, advertisements in newspapers and televisions, sales promotions through public events and announcements, etc. When the promotion is effective, sales of the product or service automatically increases. It ultimately results into accomplishment of goals and objectives. As per our 4p of marketing assignment help experts, marketers should analyze certain concerns before adopting any of the promotional mediums like suitability of the launch, promotional strategies adopted by the competitors and the ideal method to reach out to the target customers.
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