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| Topic: |
Business
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| Number of pages / Number of words: |
6 / 1492 |
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Price has to do with just that; figuring out the best cost for the product that is competitive with the current market and considers the cost of the entire marketing mix. Customer reaction should also be considered when the price is being developed because the customer must accept the price in order for the whole process to work...
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We develop a Product to satisfy the target customers. We find a way to reach our target customers' Place. We use Promotion to tell the target customers (and others in the channel) about the product that has been designed for them. And we set a Price after estimating expected customer reaction to the total offering and the costs of getting it to them†(McCarthy, 2004)...
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A critical review of the ways in which marketing thought is evolving in response to current trends in the services marketing environment.
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