Mention the basic principles of Market
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The basic principles of marketing consist of product, price, place and promotion. Together, these four principles are known as the “4 P” (for its initials in English) marketing, and include the integration of marketing. For a marketing strategy to be effective, the four components must be used correctly.
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Answered by
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heya mate....
The basic principles of marketing consist of product, price, place and promotion. Together, these four principles are known as the “4 P” (for its initials in English) marketing, and include the integration of marketing. For a marketing strategy to be effective, the four components must be used correctly. The challenge for business owners and industry professionals is to determine the appropriate method for each area, and integrate successfully.
Product
The product you sell can be a physical item or service intangible, such as sending food home or service cleaning. When you create your product, you need to consider factors such as the name, packaging, different types of uses and safety when used. It is also necessary to determine how the product appeals to a specific market segment. The product should meet the needs of a particular group of people, such as professionals, housewives, business owners, students or golfers.
Price
You need to determine the price of the product. If the price is too high, you Keep far to potential buyers. If it is too low, you may have difficulty obtaining profits. You will also have to consider the price of the competition. Some models of common prices include the cost price plus a profit, in which a fixed percentage of the cost of production is added, and the price based on the value of the product, in which the price is set according to the value consumers perceive the product. The latter kind of price is often used in more expensive luxury items.
Place
What's On Crypto is building a Hub - One stop destination for Blockchain, Crypto & Visualizations about Money, In-depth Cost Guides and Tools.
Hope it helps u......
plz mark me the brainliest.....
The basic principles of marketing consist of product, price, place and promotion. Together, these four principles are known as the “4 P” (for its initials in English) marketing, and include the integration of marketing. For a marketing strategy to be effective, the four components must be used correctly. The challenge for business owners and industry professionals is to determine the appropriate method for each area, and integrate successfully.
Product
The product you sell can be a physical item or service intangible, such as sending food home or service cleaning. When you create your product, you need to consider factors such as the name, packaging, different types of uses and safety when used. It is also necessary to determine how the product appeals to a specific market segment. The product should meet the needs of a particular group of people, such as professionals, housewives, business owners, students or golfers.
Price
You need to determine the price of the product. If the price is too high, you Keep far to potential buyers. If it is too low, you may have difficulty obtaining profits. You will also have to consider the price of the competition. Some models of common prices include the cost price plus a profit, in which a fixed percentage of the cost of production is added, and the price based on the value of the product, in which the price is set according to the value consumers perceive the product. The latter kind of price is often used in more expensive luxury items.
Place
What's On Crypto is building a Hub - One stop destination for Blockchain, Crypto & Visualizations about Money, In-depth Cost Guides and Tools.
Hope it helps u......
plz mark me the brainliest.....
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