The 4 Ps framework, which stands for Product, Price, Place, and Promotion, significantly influences marketing workflows by providing a structured approach to marketing strategies. Product refers to what a company is selling, whether it's a physical good, a service, or a digital product. Price involves determining how much to charge for the product to maximize profits while still being attractive to customers. Place refers to where and how the product will be sold, which can include physical stores, online platforms, or direct sales. Promotion involves all the methods used to communicate the product's features and benefits to the target market, including advertising, public relations, and promotional strategy. By considering each of these elements, businesses can create effective marketing workflows that meet customer needs, align with company goals, and adapt to market changes.
Use our compilation of commonly used Consulting Frameworks to better structure your analysis and com...
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