Tag Archives: definition of marketing

The Marketing Mix and 4 Ps – MindTools.com

What is marketing? The definition that many marketers learn as they start out in the industry is:

Putting the right product in the right place, at the right price, at the right time.

Its simple! You just need to create a product that a particular group of people want, put it on sale some place that those same people visit regularly, and price it at a level which matches the value they feel they get out of it; and do all that at a time they want to buy. Then you’ve got it made!

There’s a lot of truth in this idea. However, a lot of hard work needs to go into finding out what customers want, and identifying where they do their shopping. Then you need to figure out how to produce the item at a price that represents value to them, and get it all to come together at the critical time.

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