if you decide on any of the above, pls state why. thanks
It is called the ‘Marketing Mix’ for a reason. all four are equally important. Marketing isn’t about absolutes, it’s about integration. If you think about the four P’s as a human body, it’s like asking what’s more important to live: your brain, your heart, your lungs, or your blood. You can’t live without any of them: sure, some people can live with blood problems or partial lungs, but do you think they are as healthy as someone who has no problems? Its the same with the four Ps. When they are all healthy and working together, the company excels. If one of them is not working correctly, the company suffers.
Thus the answer: All are equally important.
uh product? but still, these are the basics they are all dependent on each other. its like asking who is more important man or woman
References :
At my place, price just beats out promotion and placement. The majority of our customers want what they perceive as value, but we do sell a lot of items because of where they are placed. Some of our customers will ask for a certain product because they heard it advertised. The product itself, in some ways, is the least important of the four, at least to start out. The best product in the world will not sell if it is not promoted, visible in your store, and have a price that consumers are willing to pay. Of course, if the product turns out to be no good, there will be no repeat business on it.
References :
All the 4 are dependent on each other.. not any single can be most important.. If your price is less and product is poor will anybody buy it?
If product is good price is attractive and you don’t promote it how will your customers know about it?
If all 3 product price and promotion are attractive and place is wrong how will you sell it?
References :
You can sell a good product with right price at appropriate place.
You can sell a product with high price or inappropriate place by promotion.
References :
The answer is it’s the fifth P.
PERCEPTION.
It’s how consumers view your brand in relation to other brands that sell the same product.
A product doesn’t have to be great, but if it has a high perceived value it can succeed in the marketplace.
Think about it. What makes an Armani shirt worth more than a Hanes? Is it the quality of the material? Nope. It’s the power of the brand and the consumer’s perception that Armani is of a higher value.
References :
http://www.michaelchatfield.com
It is called the ‘Marketing Mix’ for a reason. all four are equally important. Marketing isn’t about absolutes, it’s about integration. If you think about the four P’s as a human body, it’s like asking what’s more important to live: your brain, your heart, your lungs, or your blood. You can’t live without any of them: sure, some people can live with blood problems or partial lungs, but do you think they are as healthy as someone who has no problems? Its the same with the four Ps. When they are all healthy and working together, the company excels. If one of them is not working correctly, the company suffers.
Thus the answer: All are equally important.
References :