Answer to Question #211238 in Finance for Sphesihle Zuma

Question

The marketing plan includes everything that has to be done to convey the product or services to the consumer or target market. Show how the following "Ps" instruments or steppingstones become a necessary in making the plan work (function)

1.1 the product

1.2 the price

1.3 the place

1.4 promotion

Answer 1

1.1 The product

The product is the realisation of the customers’ needs and wants. It is the base of the value created for the customer.

1.2 The Price

The price is a part of the value exchange that occurs between the company and the customer.

1.3The Place

The place must be thought of as distribution.

1.4Promotion

The company can create as much value for the target customers as it wants to.