Principles of Marketing

The principles of marketing refer to the foundational concepts that guide the promotion, selling, and distribution of products or services to meet consumer needs and generate value. Key principles include:

Product: Developing offerings that satisfy customer needs and desires.
Price: Setting a competitive and profitable price for the product or service.
Place: Distributing the product to ensure availability where and when consumers want it.
Promotion: Communicating the benefits of the product through advertising, sales, and public relations.
People: Ensuring that customer interactions and experiences are positive, involving both employees and customers.
Process: Streamlining how the product is delivered or the service is performed.
Physical Evidence: Providing tangible proof of the brand’s promise, especially for services.
These principles focus on understanding the target market, delivering value, and fostering strong customer relationships to drive business success.