Place It costs to distribute your products Promotion It costs to promote your products Price must support the other elements of the marketing mix Pricing is difficult and must reflect supply and demand relationship Pricing a product too high or too low could mean lost sales for the organisation Pricing Factors The marketing mix, also called 4Ps and 7Ps of marketing, refers to a set of actions that a company uses to promote its brand in the market It is the pillar of marketing strategy The 4Ps are Product, Price, Place, and Promotion, while the 7Ps are the 4Ps plus Processes, People, and Physical evidenceThe possible decisions marketer is making concerning the price are pricing strategy (demand, cost, profit or competition based methods), suggested retail price, volume discounts and wholesale pricing, seasonal pricing, bundling, price flexibility and discrimination, etc 4p S Of Marketing Mix Product Price Promotion Place Management Study Hq Product price place promotion marketing mix ...
