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MKTG 116 Principles of Marketing

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Following are four principles of marketing referred to as 4Ps or 4P marketing Matrix that companies use for their marketing strategy as per the course MKTG 116 Principles of Marketing are as follows:

  • Product
  • Price
  • Place
  • Promotion

Also following were the first principles of marketing?

This framework is grounded in four assumptions or first principles that guide the effectiveness of any marketing strategy under course MKTG-116 Principles of Marketing:

  • All customers differ
  • All customers change
  • All competitors react
  • All resources are limited

Marketing on the other hand is the aspect of business which is most customers focused as all of the principles of marketing relate directly to the consumer. As per the course MKTG-116 Principles of Marketing, it is essential for organizations to operate in the free market as success depends upon identifying and retaining consumers in order to remain profitable and ensure business growth.

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