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Importance of price and promotion

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Explain the importance of price and promotion in the development of marketing strategy and tactics.

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This solution is comprised of a detailed explanation to answer the request of the assignment of more than 300 words of text.

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A marketing strategy is about developing a good marketing mix. The elements of the mix are: Product, Price, Place, and Promotion. In order to be successful to sell the products of the company to the customers, we can certainly help the customers in coming to a buying decision by setting the "right" price, the retail location, the level of advertising and even product attributes such as color or perceived quality. There are various ...

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