How can companies capitalize on differentiation and positioning strategies using the 4 P's marketing mix?© BrainMass Inc. brainmass.com July 23, 2018, 11:48 am ad1c9bdddf
My solution for answering this question is as follows:
Step 1: Define the 4P's
The marketing mix or four P's represent product, price, place (distribution) and promotion that center around the target market (consumer). In more detail:
Product - Refers to the tangible goods or intangible services that the business provides to the consumer. Decisions need to be made about the product/service including a brand name, what the product/service will be used for, warranty terms, repair, etc.
Price - Decisions need to be made about pricing strategies, discounts, seasonal sales, etc.
Place (Distribution) - How will the product or service be distributed to the consumer? Decisions relating to order processing, inventory management, distribution channels and the like must be made. ...
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