Final answer:
The four P's of the marketing mix are Product, Price, Place, and Promotion. 'Process' and 'people' are not part of the original four P's. The provided phrases relate to the 'product' aspect and a firm's location to 'place'.
Step-by-step explanation:
The four P's, also known as the marketing mix, include Product, Price, Place, and Promotion. The question provided lists 'promotion', 'product', 'process', and 'people'. However, 'process' and 'people' are not traditionally part of the four P's. Instead, 'price' and 'place' complete the marketing mix. The physical aspects of a product, such as an unbreakable bottle or non-shrink fabric, are part of the 'product' element, while the location of business, like a gas station at a busy intersection or a supplier near a car factory, refers to 'place'. Promotion involves the strategies used to advertise and sell the product.
The four P's in marketing refer to product, price, place, and promotion. These are the key components of a marketing strategy that businesses use to successfully sell their products or services. Each P represents a different aspect of the marketing mix:Product: This refers to the actual goods or services being offered to customers. It includes the physical features, branding, packaging, and any unique selling points.Price: This refers to the monetary value assigned to the product. It involves determining the right pricing strategy to maximize profitability and attract customers.Place: This refers to the distribution channels and strategies used to make the product available to customers. Itinvolves selecting appropriate channels, such as retail stores or online platforms, and ensuring efficient logistics.Promotion: This refers to the activities used to communicate the value of the product and persuade customers to purchase it. It includes advertising, public relations, sales promotions, and other promotional techniques.