Explain 4Ps of product marketing mix.(CLASS XII) (OCM)

 Explain 4Ps of product marketing mix. 

1) Product: Product refers to the goods or services that are offered to the customers for sale and are capable of satisfying the need of the customer. 

 2) Price: The price of the product is basically the amount that a customer pays for the product. Price plays an important role in creating demand for the product. 

 3) Place: Place is also known as a distribution channel. Placement or distribution is a very important part of marketing. 

4) Promotion: Promotion is an important element of marketing as it creates brand recognition and sales. Promotion is a tool of marketing communication that helps to publicize the product to the customer. 

5) People: People inside and outside the business directly or indirectly influence the business. People comprise all the human beings that play an active role in offering the product or service to the customer. 

6) Process: Process refers to the steps involved in delivering products and services to the customer. Processes are important to deliver a quality service 

7) Physical Environment