ENTREPRENEURIAL MARKETING
MARKETING MIX
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Price
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Productivity
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Profit
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People
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Detailed explanation-1: -Jerome McCarthy came up with the 4 P’s model in the 60s, which was later popularized by Phillip Kotler. These 4 P’s were Product, Place, Price, and Promotion. All of these 4 P’s are things that you should keep in mind when forming any marketing strategy. Then came the fifth P that connects them all, People.
Detailed explanation-2: -These are: Promote, Position, Present, Provide and Protect. Promotion is probably the most obvious of the traditional marketing mix elements as it pertains to packaging, but that doesn’t mean it should be overlooked.
Detailed explanation-3: -The 5Ps, Product, Price, Promotion, Place, and People, are a business strategy to help marketing efforts become more efficient by correctly determining target customers and creating a solid base to convert them into loyal customers.