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List P's of marketing mix Explain each of them briey 1. Product NSWER 3 Product refers to a good or service that a company offers to customers. thus, a product should achieve an existing consumer demand; includes options, quality, design, features, packaging and other related services. Price is the cost consumers pay for a product Marketers must link the price to the product's real and perceived value, but they also must consider supply costs, seasonal discounts, and cometitors' When a company makes decisions regarding place, they are trying to determine where they should sell a product and how to deliver the product to the market; includes distribution channels, platforms, websites and other online. The goal of promoting a product is to reveal to consumers why they need it and why they should pay a certain price for it; includes advertising, promotional strategy, branding, content marketing, search, influencer relations, social media, PR and sales. Explain how your company can create value by using marketing mix: It helps me explore the different values my product provides and will help me figure out the product s unique selling proposition or the characteristic that differentiates my product from competitors' products but the most important thing that the customers opinions about my product will determine my sales. Also, [take into account the production costs and calculate the customers perceived product value Product value 1s the product benet minus the product costs. In addition, I considered three- factor helps to pick the right place which 1s Reach, Convenience and Environment thus my product reach the right target audiences easily and safe which mean more sales for my company. Eventually, promotion objectives should include communicating the value of my products. There are several types of promotions that I used to create value for my company such as personal selling, advertising and social media marketing. The marketing mix affects my company s product success. This 1s why the marketing mix plays such a big role in my company s marketing strategy