Marketing mix is a set of elements us! in business to increase demand for the company’s offer. It is also a set of elements that affect both a single recipient and the entire industry market. Marketing mix aims to focus on the properties of the present! product by using elements that interact with each other.
The most common compositions of marketing mixes include the 4p structure! which when implement! is expand! to 5p and even 7p. 5p marketing is an important element! according to which you can promote a given product or service in a way that is not only attractive! but also very effective.
The 5p rule – extend! version of the marketing mix
The 5p principle extends the traditional p4 whatsapp number database marketing mix composition with an additional element.
It includes:
- product!
- price!
- place(s)!
- promotion!
- people.
Product
This definition can include goods! brand! services! provide instruction, training and guidance quality and product packaging. Additionally! the offer can be expand! to include service! warranty! delivery to the address and all after-sales service. An important issue in this step is the ne! to determine and satisfy the customer’s ne!s.
Price
It is usually determin! after careful consideration b2b reviews and evaluation of the aesthetics! value and benefits of a given product or service. However! thanks to various strategies! this amount can be influenc! by applying a pricing policy. It is worth using! among others! discounts or favorable payment terms. Large companies with a stable position on the market and a reputation develop! over the years often use high prices to instill in the consumer the belief that their store is intend! for wealthy people. New companies often lower prices to attract interest and more easily stay on the market and build trust among new customers.