Marketing, Marketing management, Product marketing

The 4PдЫЄs of marketing stands for product, promotion, price and place. All these elements have a special significance in marketing as any business should have product or products which have demand in the market. Promotion is needed for making the people aware of the products produced by the business concern. The price element is of special significant as it enables the concern to cover the different costs of the business house as well as attract the customers for purchase of the product. To perform the business or distribute the products a business concern must have a location it can afford. So, the place element also becomes a vital element in marketing. (Kotler, 1972, pp.24-25; Clemente, 2002, pp.241-243)In marketing there exists two types of planning, namely strategic planning and