When we buy shampoo, we pay for beauty, because its action will probably make our hair look good. Marketing tools The second P is the price (Price), the amount charge for the product or service. This is the second most important element in the marketing mix. Determining the price of a product is a difficult task. Price positioning involves taking into account many factors such as product demand, production and distribution costs, consumer’s ability to pay, competitors’ prices, etc. Pricing is a very important decision area as these have a big impact on the profitability of the company.

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Commplace PR agency Marketing instruments also take into account the place /location (Place), which is the third P in the marketing mix concept. Since goods are produce to be sold to consumers, they must be made available to consumers in a place where phone number list they can conveniently shop. The coffee is made in Brazil and you buy it from a shop around the corner. The product must be easily accessible to customers. The company must decide whether it will sell it, for example, through distributors/wholesalers, or directly to consumers.

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That companies nee to track progress

Marketing tools The marketing instruments mentione earlier nee the fourth element, which is P for promotion, to achieve full success . Imagine that the product is manufacture taking into account the nees of consumers. At the same time, it has Email Lead an appropriate price and is available at points of sale convenient for customers. Perfectly? Not entirely, because the consumer is not aware of its price, features, availability, etc. Without proper promotion, the company’s marketing efforts may fail. Therefore, promotion is an important component of the marketing mix as it relates to the process of informing, persuading and influencing the consumer to make a choice and buy a particular product.