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Answer questions about the marketing four P's

In an APA paper, answer the following questions:

Of marketing's four P's - product, price, promotion and place (distribution) - which lend themselves most easily to total or quasi-standardization?

Of the four P's, which are the most important for global headquarters to dictate? Which should fall more under the control of national subsidiaries?

Which of the globalization drivers would be useful in answering the questions above for any particular industry?

How do sourcing and location affect the four P's of global marketing?

Solution Preview

The 4 P's, also known as a marketing mix, are utilized by organizations as assistive tools by companies to pursue their goals and objectives. The principles of a marketing mix are deemed controlled variables, which must be managed carefully and meet the target group's consumer needs. The 4 P's are involved in the planning processes within an organization and consist in the evaluation of the product, price, placement and promotion.

The product facet of a marketing mix, deals with the provisions of concrete services and goods; in addition, it relates to consumers wants and needs. Product range consists of sustaining rudiments such as support, guarantees, and warranties.

Pricing, in the context of a marketing mix, deals in price setting for a product, collectively with any specified discounts given. The price, not only refers to a monetary preference; price also refers to an exchange in services and products, for instance attention, energy, or time. The technique used in price setting, are in the realm of pricing abilities.

Placement, also known as distribution, refers to the method in which buyers get the products; for example, retailing or P.O.S. sales. This refers to the method in which services and products are sold, which industry, geographical region, or to which surrounding can influence sales of the products.

The final "P" in the marketing mix includes promotion. This is the method in which the product is promoted; for example: sales promotion, advertising, individual selling and publicity. ...

Solution Summary

The marketing four P's are examined.