University:
California State University, Northridge
Course:
MKT 498A | Marketing Internship
Academic year:

2023
Views:

452

Pages:

2
Author:

Nirr Nirr

Principles of marketing In any organization, there are four factors which are controllable, and they are: Price Promotion Place Product Those four factors are also called the 4ps or the marketing mix. Combining successfully those four factors will lead to an effective marketing strategy. The product is what the customer gets and not what the seller is selling. A product is a combination of attributes that satisfies the consumer. A decision made to sell a product is a destination made on the behalf of a whole company. Furthermore, All departments are involved to launch a successful product. The attributes a product is created for are: 1) 2) 3) 4) 5) Form Possession Time Information Image utilities The additional aspects a manufacturer adds to a product are: 1) 2) 3) 4) 5) Warranties After sale service Consumer training Demonstrations Transport of the product A product line refers to the set of products a brand is offering to consumers. Each set of products has products items. Product mix is the combination of all the products that a company is offering to customers. Product can be classified into the following categories: 1) Convenience products: are the products that a customer buy often 2) Shopping products: based on suitability, quality, price such as furniture Some others are: a) Special products b) Industrial products c) First type product