Evolution Of The Four Ps: Revisiting The Marketing Mix | Forbes

Price

Simply put, price refers to how much a customer is willing to pay for a product or service. Pricing strategies are becoming more dynamic to keep up with highly educated consumers. For instance, discounting strategies could be permanently anchored in the minds of consumers, who may refuse to pay retail prices later.

The advancement in technology has allowed manufacturers to cut out retailers and sell directly to consumers. And the integration of AR capabilities into the iPhone is only opening more possibilities for direct manufacturers to sell directly to consumers by allowing them to visualize merchandise in ways that replace the need to tangibly feel the product before you buy it. All of these changes underscore the need to clearly communicate value based on the positioning chosen for the product.

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Evolution Of The Four Ps: Revisiting The Marketing Mix.

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