What are the four P's that make up a company's marketing mix?

The four P's that constitute a company's marketing mix are Product, Price, Place, and Promotion.

Understanding each component is crucial for effectively developing marketing strategies.

• Product refers to what a company is selling, whether it's a tangible good or a service. It encompasses the quality, design, features, and brand that meet the needs of customers.

• Price is the amount customers pay for the product. It involves strategies related to pricing, such as discounts, financing options, and overall pricing strategy that aligns with consumer perceptions of value.

• Place deals with how and where the product is distributed to consumers, which can include retail locations, online platforms, and distribution channels.

• Promotion encompasses the marketing communications used to inform and persuade potential customers about the product, such as advertising, public relations, and sales promotions.

This combination is integral in shaping how a business reaches its target market and satisfies customer needs, ultimately contributing to the company's success. The other options either include elements that are not part of the traditional four P's or misrepresent them.