The 4 Ps—product, place (distribution), promotion, and price—represent the variables that are within the control of the firm (at least in the medium to long run). In contrast, the firm is faced with uncertainty from the environment.
Marketing is about catering the needs of the customer. Handling the right product at the right time for the customer. It is a process of creating value at the customer place to build good relationship in order to get value from them . So each company works differently depending upon their way of business and the Sector of Business. So they have different strategies to reach the customer in a faster way than competitors. So, in marketing there are five basic concepts which are very much required for a company to implement in its marketing plan and getting up to date depending upon the Marketing Environment.
The five basic concepts are
1. Production Concept:- This is a concept which is applied from olden days. This concept is to make the companies realize what the customer is looking for?. The... [continues]
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