4 P's of Marketing Assignment Help Online

Marketing mix generally refers to a set of actions or tactics that are used before launching any new product. This tool of marketing is made up of four variables known as the ‘Four Ps’ of marketing.

• Product
• Price
• Promotion
• Place

If you want to write a 4P of marketing assignment, you need to understand that marketing mix is characterized by four different but equally important variables. These variables are never constant, they transform with time. But it is vitally important to note while composing a 4P of marketing assignment that a change in one of the variables may cause a daisy chain reaction in all the other variables as well. The marketing mix blends these variables together to produce the results that the company wants to achieve in its particular target market.

Marketing Mix or 4Ps is the fundamental base of marketing studies and also 4P of marketing assignment writing. So if you want to carry out a 4P of marketing assignment, you need to know the basics of 4Ps of the marketing mix. For this, you can avail our 4P of marketing assignment help.

Understanding 4Ps of marketing mix

Here our 4P of marketing assignment experts will define the four variables of the marketing mix to help write a 4P of marketing assignment. If you need further knowledge on these variables, you can take professional assistance from our 4P of marketing assignment help experts.

• Product

Our 4P of marketing assignment help experts describes product as the goods and services that your business provides for sale. This is the first thing you need if you want to start a business. You need to give priorities to product decisions if you are making any marketing plan. The product is divided into three parts: 

1. The core product
2. The augmented product
3. Tertiary product

The product must deliver a minimum level of performance. To achieve the set target of writing a 4P of marketing assignment, you need to gain proficient knowledge of product that should be considered in terms of quality, design, features, packaging and customer service and any subsequent after-sales services.

• Price

4P of marketing assignment help experts define price as the value that is put into a product and the amount of money that consumers must pay in order to purchase your products. The 4P of marketing assignment experts refer to the variables that affect pricing of a product as:

1. Cost of production
2. Segment targeted
3. Ability of the market to pay
4. Supply and demand
5. Host of other direct and indirect factors
6. Any price fluctuations in market

Along with the above factors, our 4P of marketing assignment experts also describe few more other things that have to be taken into consideration when deciding on a pricing strategy. Targeting and positioning of the product is significantly affected by pricing strategy. Pricing can be used for sales promotion in the form of discounts.

• Promotion

Our 4P of marketing assignment experts describe promotion as the act of communicating the benefits and value of your product to consumers. If a brand is completely new in the market, it needs brand/product awareness promotions, and if the brand is already introduced to the market, it needs brand recall promotions. Promotions include

1. Advertising
2. Direct Marketing
3. Personal selling
4. Sales Promotion
5. Verbal Advertisement
6. Press reports
7. Incentives
8. Commissions and trade awards to the trade

With the promotional schemes, a company decides it’s targeting and positioning of the product. If the promotion goes well, it boosts up all other three variables – product, price, and place.

• Place

Our experts at 4P of marketing assignment help services describe place as the place of distribution, location and methods of getting the product to the customer. Our 4P of marketing assignment expert recommend that the company has to take care of the fact that if a product is for all sections of consumers, it needs to be available as far and wide as possible. On the other hand, if a product is for premium consumers, it should be available only in selected stores. Similarly, if the product is a business product, the company should assign a team who interacts with business and make the product available to them. According to our 4P of marketing assignment experts, the vital factors that affect place are:

1. Location of your business
2. Shop front
3. Distributors
4. Logistics
5. Potential use of internet with the purpose to sell products directly to consumers

To make these above subjects more feasible to learn, contact our marketing experts at 4P of marketing assignment services.

Role of 4Ps in marketing strategy

4Ps of marketing plays a crucial role in deciding the strategy of the organization. Marketing mix is the initial stage of making marketing or business plan for the organization. The reason is marketing mix influence the decisions of segmentation, targeting and positioning decisions. Based on the quality of the product, segmentation and targeting will be done. Based on the price, positioning is decided. Thus, the marketing mix strategy work in chain process with segmentation and positioning. For more information on this above subject, take our 4P of marketing assignment help.

Implementation of marketing mix

Here our 4P of marketing assignment experts use a model to help you understand the how to introduce a new offer in the market. This model can also be utilized to test your existing marketing strategy. If you are carrying out a 4P of marketing assignment, you may want to know the applications of the model. 4P of marketing assignment help has the best way to know it. Here is the model by our 4P of marketing assignment experts, with which you can improve your marketing mix:

• First, identify the product or service for analysis.

• Then, try to answer the questions like ‘why’ or ‘what if’ to challenge your offer. Like, why your target audience needs a particular feature? What if you lower your price by 5 percent? What if you improve PR rather than TV advertisement?

• After that, when you settle on well-defined marketing mix, you need to think from customers’ perspectives. You need ask these following questions:

1. Does the product meet their needs? (Product)
2. Will they find it where they shop? (Place)
3. Will they find the price is affordable? (Price)
4. Are they aware of the product? (Promotions)

When you are fully satisfied that you have all answers, alter the marketing mix strategy accordingly based on the information and facts and figures you have available.

• Lastly, when you develop a marketing plan, review it regularly to see if some elements need change. The reason you keep it under watch is the product or service and its market grow mature and adapt to ever-changing competitive environment.

When you are implementing 4Ps of the marketing mix, our 4P of marketing assignment experts give you the list of the elements for each of the Ps.

Product decisions

• Brand name
• Functionality
• Styling
• Quality
• Safety
• Packaging
• Repairs and Support
• Warranty
• Accessories and Services

Price Decisions

• Pricing Strategy
• Suggested retail price
• Volume discounts and wholesale pricing
• Cash and early payment discounts
• Seasonal pricing
• Bundling
• Price flexibility

Distribution (Place) Decisions

• Distribution channels
• Market coverage
• Inventory management
• Warehousing
• Distribution centers
• Order processing
• Transportation

Promotion Decisions

• Promotional strategy (Push, pull, etc.)
• Advertising
• Personal selling and sales force
• Public relations and publicity

Detailed knowledge of the above sub-topics can be gained with our 4P of marketing assignment help.

Limitations of marketing mix framework

Our 4P of marketing assignment experts observe that the concept of marketing mix was effective in earlier days when the physical products represented a large portion of the economy. But now, the scenario has changed. The 4P of marketing assignment experts note that marketing is more integrated into organizations and with a wider variety of products and markets. However, the marketing mix remains based on the 4Ps. Despite its limitations, it remains active in the field of marketing.

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