Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational goals. Basically marketing is a necessary part of our daily life. Not only are products and services marketed but we market ourselves as part of everyday business. Earlier this week I spoke with a friend of mine who works for H and R Block, I asked how the 4-Ps are used in her organization. After our discussion I realized that the 4 - Ps has definitely helped H and R Block in boosting their ability to attract customers. It was very remarkable to see how different business market their products and services. It seems as thought immediate gratification is a promotion marketing tool that many companies are now using. After briefly describing the 4 - P's of marketing we will review how H and R Block makes good use of all the steps in their marketing mix.
Definitions of the 4 - P's
Product is the goods or services that a business offer and they are distinctive and different, better in quality and easier to use. In my own view, the product or service is one the most important facets of a thriving business. If a business has an item that a customer truly wants they will drive out of their way to buy it. They will be willing to pay a higher price for the item if the quality justifies it. A product is the need satisfying offering of a firm including physical goods or services. The product also includes the features and benefits, quality level, accessories, installation, instructions, warranty, product line extensions, packaging, and branding of the product.
Place deals with the location on ones business or...