What does the framework 4P stand for?
1. Product
Variety, quality, design. Features, brand name, packaging and services.
2. Price
List price, discounts, allowances, payment periods, credit terms.
3. Place
Channels, coverage, assortments, locations, inventory, transportation and logistics.
4. Promotion
Advertising, personal selling, sales promotion and public relations.
Together these form a framework useful to companies when targeting their customers and finding the best position.
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International Marketing Strategies
- What are some of the reasons for adaptation?
- What is International Marketing?
- What is the product life cycle?
- What is meant by relationship marketing and how is it different from traditional marketing?
- What is the importance of collaborative relationships to competition?
- How valuable is branding for a consumer products company?
- What are the three points that define a global approach to international marketing?
- What is meant by positioning?
- Why is cost containment and technological improvement said to be the basis for competition?
- What is the concept of quality? How does it relate to TQM?
- What are the benefits to an MNC that accepts the global market concept?
- What is strategic planning and how does it differ for international marketing from domestic?
- What is a market-driving strategy?