Explain In Detail The Essence Of Marketing Please.

There is a saying in marketing that if your marketing plan and the execution of the plan is perfect then the salesmans job is to deliver the product. It will require minimal selling effort.

The essence of marketing can be seen in the marketing mix. The 4 P's of marketing represent the marketing mix. They are as follows:

Product: It defines the type of product that is being marketed. It will belong to a certain category of products. It will have its own PLC (Product Life Cycle). It will have its own economic behavior.

Price: This will refer to the pricing strategy for the particular product. The firm could choose a skimming strategy or a penetration strategy.

Place: This refers to the distribution channels that the firm chooses for its product. It could use single-tier system, direct selling or multi-tier system.

Promotion: The firm will choose if the promotional strategy will be a pull strategy or push strategy.