What is Marketing?
Marketing is a process through which the goods and services are made available to the consumers. Marketing includes its three P’s which are the product, price, place, and promotion. The product part includes the recognition, selection, and development of the good. The physical characteristics of the product are designed in order to attract customers, for example; by using attractive color and patterns on the cover. The next step is to determine the price which is an art in itself. The price should be set keeping a lot of things in mind such as the competitor’s price, maximizing profit and whether the price would be sufficient to cover up the costs. Place refers to the selection of a distribution mode. This depends on the good itself as different goods require different channels through which they should reach the customers.
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