MANAGEMENT

Detailed explanation-1: -The four Ps of marketing is a marketing concept that summarizes the four key factors of any marketing strategy. The four Ps are: product, price, place, and promotion.

Detailed explanation-2: -The 4Ps of marketing is a model for enhancing the components of your “marketing mix” – the way in which you take a new product or service to market. It helps you to define your marketing options in terms of price, product, promotion, and place so that your offering meets a specific customer need or demand.

Detailed explanation-3: -The Third P of Marketing: Place When it comes to place, this might mean the physical location of your company, but it could also be defined as anywhere you sell your product, which might be online. The place is where you market and distribute your product. Remember that not every place makes sense for every product.

Detailed explanation-4: -Definition: The marketing mix refers to the set of actions, or tactics, that a company uses to promote its brand or product in the market. The 4Ps make up a typical marketing mix-Price, Product, Promotion and Place.