Answer to Question #127918 in Marketing for oliver

Question

Define each of the four Ps. what insights might a firm gain by considering the four Cs rather than the four Ps?

Answer 1

Product, price, place and promotion of the good or service are integral components to consider in marketing. These components are useful in identifying consumers and their needs, the competitors as well as how their products are perceived in the market. Still, organizations can employ the four Cs (Critical thinking, Creativity, Collaboration and Communication) to develop an efficient workforce and a productive working environment.