4 P's Of Marketing Essay

Marketing is a management process through which goods and services move from the concept or idea of a product to the end customer. It includes the coordination of four elements called the 4 P's of marketing – Product, Price, Placement and Promotional strategy. Product is the physical good that the manufacturer wants to bring into the market. It could be goods or services, for example, Samsung provides phones and hotels provide services. Price, it is one of the most important factors that contribute to the determination of the positioning of the product in the market. Placement is where the product is placed, in which market and where in the clutter of products in the same category. For example, a fine dining restaurant, if opened in a lower income neighborhood will not reap as much as it would in a high income neighborhood. Lastly, promotional strategy, this factor is like giving an actor a stage to showcase it. A successful business knows that marketing is a key functional area in prosperous

Therefore Customer service should be a top priority in our marketing strategy. As Jeff Bezos of Amazon says, “We see our customers as invited guests to a party, and we are the hosts. It’s our job every day to make every important aspect of the customer experience a little bit better”. Therefore there has been a shift in advertising by huge retail stores today. They no longer advertise just their discounts and brands but also their great customer service as it is in the core of building a brand. With great customer service comes insight and that gives the business ideas and opportunities for growth. Starbucks, sells coffee but it is that name written on each cup that makes the experience a slightly more comforting and makes you want to back for a Starbucks