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Jerome McCarthy grouped these items into the what is now known as the four P's ? product, price, place, and promotion. (www.netmba.com) These four P's are the parameters that the marketing manager can control, depending on the internal and external limitations of the marketing environment. The goal is to make decisions that center the four P's on the customers in the target market in order to create perceived value and generate a positive response. (Perreault & McCarthy, 2005)
Product
The first element of the marketing mix is product. The term "product" refers to tangible, physical products as well as services...
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