8.3 4 Ps of Marketing 1 bXP

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4 Ps of Marketing
Marketing is often summarized using what are called the 4 Ps:

Product The features of the product.

Price The price that consumers pay for the product.

Promotion The effectiveness of the sales and marketing
invested in the product, and the brand.

Place The availability of the product where consumers
are most likely to find and buy it.

The below shows an example of some of the factors that
consumers will consider when purchasing a soft drink.

Price
A price-conscious consumer is more likely to
purchase a lower-priced product.

Taste
A taste-conscious consumer is more likely to
purchase a better-tasting product.

Health
A health-conscious consumer is more likely to
purchase a product that offers the most health
benefits.

Brand
A brand-conscious consumer is more likely to
purchase a product with greater brand equity.
Brand equity represents the brand awareness and
brand loyalty you have created for your business.
Brand awareness is how well-known your brand is
versus the competition. It can be improved with
advertising and sales promotion. Brand loyalty is
the likelihood that a customer who has already
experienced your product will purchase it again.
It can be improved by getting repeat or new
customers to purchase your product, with the
hope that they will have a positive experience with
the product.

Видео 8.3 4 Ps of Marketing 1 bXP канала businessXP