It isn’t common that one comes across assignments on 4P’s of Marketing. It is not an important area that deserves a standalone assignment. However one can expect homework on marketing where one needs to employ the concept of 4P’s of marketing. Solve My Assignment takes care of such types of assessments that embrace upon varied areas of marketing.
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Concept of 4p’s of Marketing useful for assignment – Four Ps of marketing collectively accounts for the strategy that marketing managers adopt to evaluate the target market segment. It is the combination of the 4 Ps, which stands for Product, Price, Promotion and Place. Details of each parameter are given below:
1. Price: This is the amount of money that is paid by the customer to the seller that varies on the different distribution channel. Price plays a vital role as it determines the company’s profit and hence, survival. Price Adjustment has a profound impact on the formulated marketing strategy, and on the basis of the price elasticity of the product it affects the demand and sales. Few of the Pricing techniques used by the organization to estimate the pricing of the goods and services are cost recovery pricing, penetration pricing and price skimming.
2. Place: It is often referred as the distribution channel as it actually is the channel through which the product is received by the consumer. Place is synonymous with distribution. Various strategies such as intensive distribution, selective distribution, exclusive distribution and franchising can be used by the marketer to complement the other aspects of the marketing mix.
3. Promotion: Promotion is a very common thing which we see on TV, Internet and Newspaper. Marketers adopt various communications means to communicate about the product, brand or organization to the consumers. The promotion has following four distinct elements.
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The exhaustive list of topics in Pricing Theory in which we provide Help with Homework Assignment and Help with project is as follows:
- Economic Theories Of Pricing And Value
- Pricing And Market Orientation
- Non-Price Factors
- Setting Prices
- Pricing of new products and services
- Penetration pricing
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