Common way of understanding the essentials of marketing

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Reference no: EM132205001

Many people think of marketing as only promotion. However, marketing is much more. A common way of understanding the essentials of marketing is using the 4 Ps model- product, price, place and promotion. Analyze each of the 4Ps and explain how they create value for organizations. Remember, value creation is any type of activity or outcome that will add to the long term success of the organization. It is more than simply economic value and includes enhancements such as customer good will, employee satisfaction, supplier networks, managerial skills and experience, and ethical or community factors. Creating value can include intangible as well as tangible assets, such as intellectual property and business plan. Which of the 4Ps provide the most value to organization.

Reference no: EM132205001

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