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What are the five P's of the marketing mix?
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GPT-5 mini
The five P’s of the marketing mix are:
1. Product — what you sell (features, quality, design, branding, variants). Example: a premium smartphone model with unique camera features.
2. Price — how much you charge (pricing strategy, discounts, payment terms). Example: introductory low price to build market share or premium pricing to signal quality.
3. Place — where and how the product is distributed and sold (channels, locations, logistics). Example: selling online, through retail partners, or direct-to-consumer.
4. Promotion — how you communicate and persuade customers (advertising, PR, sales promotions, social media). Example: a launch ad campaign + influencer partnerships.
5. People — everyone involved in delivering the product and customer experience (staff, salespeople, service teams, company culture). Example: well-trained support reps who reinforce brand reputation.
Note: The original marketing mix was the "4 P’s" (Product, Price, Place, Promotion); People is often added for service-oriented businesses. Other extensions include Process and Physical evidence (yielding 7 P’s) depending on context.
1. Product — what you sell (features, quality, design, branding, variants). Example: a premium smartphone model with unique camera features.
2. Price — how much you charge (pricing strategy, discounts, payment terms). Example: introductory low price to build market share or premium pricing to signal quality.
3. Place — where and how the product is distributed and sold (channels, locations, logistics). Example: selling online, through retail partners, or direct-to-consumer.
4. Promotion — how you communicate and persuade customers (advertising, PR, sales promotions, social media). Example: a launch ad campaign + influencer partnerships.
5. People — everyone involved in delivering the product and customer experience (staff, salespeople, service teams, company culture). Example: well-trained support reps who reinforce brand reputation.
Note: The original marketing mix was the "4 P’s" (Product, Price, Place, Promotion); People is often added for service-oriented businesses. Other extensions include Process and Physical evidence (yielding 7 P’s) depending on context.
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