4Ps & 6Ps – Marketing Mix

The marketing mix is ​​one of the major marketing concepts. According to the traditional premise, there are 4Ps of marketing. These are called marketing mix. But in the modern usage of the term, many more Ps are made. People have got six, seven, even eleven Ps of marketing. In this article we will talk about 4Ps and 6Ps.

Four ps

The four Ps of the marketing mix consist of product, price, place and promotion. Product means the thing you are selling. It can also be a service like tourism industry.

Price means the rate at which the product is being sold. A number of factors are involved in determining the price of a product. These include competition, market share, product identity, material cost and the value customers perceive of a product. In fact, pricing is also determined by competitor products. If competitors have the same product, the price of a product will decrease.

A place refers to a physical or virtual place where a product can be purchased…

Leave a Reply

Your email address will not be published. Required fields are marked *