How do the 4 Ps of marketing mix work? Marketing is comprised of four key elements called the “4 P’s”. Marketers use the marketing mix to influence customers into buying their products by utilizing a set of tools. Among the factors that make up the marketing mix are: Knowing what consumers want or need Finding …
Price Setting Mechanism Market information is gathered by marketers on a daily basis from ongoing projects, retail shops, cement plants, and other sales representatives. After having a detailed assessment, knowing the competitors, brand position, local home market, and future prospects a proposal is made and sent to line managers. The line managers compare it with …
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