What is the most important P of the marketing mix and why?
Marketing has 4Ps too: Product, Place, Promotion and Price. The most important P (arguably) is Price. Why? It's the only one that brings in money.
Which one of the 4 P's do you feel would be the most important ingredient for success in the lodging industry Why?
While all four P's still link to each other, Promotion has become the one many hoteliers have concentrated as their point of difference as the other three P's have become somewhat eroded in their significance in today's markets.
Why are the 4 p’s important in healthcare marketing?
In healthcare marketing, the 4 P’s are important to consider. Conducting a close analysis of your products and services will allow you to identify gaps or missed opportunities in your offering. Price is determined by many factors with an industry like healthcare, which has different service tiers for each group of patients according to their needs.
What are the 4 p's and why are they important?
The 4 Ps are used by businesses to identify key factors such as what consumers want from them, how their product or service meets or fails to meet those needs, how their product or service is perceived in the world, how they stand out from their competitors, and how they interact with their customers.
What are the 4Ps of marketing?
The 4Ps of marketing is a simple way of thinking about marketing plans across four main areas: product, price, place, and promotion. This ‘marketing mix’ can help you formulate a plan to ensure the introduction of your product or service to the market is successful.