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Essay text:
The “Four P’s” of marketing are: product, price, placement, and promotion.
Product:
A product is an object or a service that is mass produced or manufactured on a large scale with a specific volume of units (Australian Business Case Studies, 2008). This piece of the market mix also encompasses how the product is packaged, the overall performance of the product/service, and the design and structure of the product.
Pricing:
The price is the cost that a buyer pays for a particular item. Pricing is determined by a number of factors including market share, competition, material costs, product identity and the customer's perceived value of the product (Wikipedia, 2008)...
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