Final answer:
The four p's, also known as the marketing mix, represent the key elements that businesses use to market and sell their products or services. These four elements are product, price, place, and promotion.
Step-by-step explanation:
The four p's, also known as the marketing mix, represent the key elements that businesses use to market and sell their products or services. These four elements are product, price, place, and promotion.
Product: This refers to the actual item or service that a business offers to customers. It can include physical products or intangible services.
Price: This relates to the amount of money that customers are required to pay in order to purchase the product.
Place: This is the distribution channel through which the product reaches the customer, such as a physical store or an online platform.
Promotion: This involves the marketing activities used to communicate the benefits of the product to the target audience and persuade them to make a purchase.