Forums Marketing What are the basic principles of marketing?

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    Juhi Garg
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    What are the basic principles of marketing?

    #16619

    Juhi Garg
    Member

    Answer – The basic principles of marketing helps the marketing people to enhance the marketing techniques and to leave and the influential expression on the target audience by using certain marketing principles. Some basic principles used in the marketing are 4 P’s of marketing – The first P is Price which means the price of the product that should be reasonable enough and should be within the budget of consumers so that they can afford the products. The second P is Place which means that the goods must be available to all the places and the distribution system of the goods and services must be strong enough so that the product can reach to each and every person. The third P is Product means the product or the goods and services that a person is offering must be up to the needs and the requirements of the target consumer and it must help the consumers to fulfill their needs and reduce their workload and make their life easier. The fourth P is Promotion which means that the goods and services must be promoted enough so that the customer can be made aware about the existing products and the upcoming products in the market and the usefulness of the products and services can be informed to the target set of audience in the market. These principle of marketing are now have been extended to the 7 P’ s of marketing and those are Price, Product, Place, Promotion, People , Process, Physical evidence and the new marketing strategies are been made in the organizations or in the business entities after considering these 7 P’s of marketing in the procedure.

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