Editing Marketing (section)

==== Outline ====

;[[Product (business)|Product]]
: The product aspects of marketing deal with the specifications of the actual goods or services, and how it relates to the [[end-user]]'s needs and wants. The product element consists of product design, new product innovation, branding, packaging, and labeling. The scope of a product generally includes supporting elements such as warranties, guarantees, and support. [[Brand]]ing, a key aspect of the product management, refers to the various methods of communicating a brand identity for the product, [[brand]], or company.<ref name=":1" />
;[[Pricing]]: This refers to the process of setting a [[price]] for a product, including discounts. The price need not be monetary; it can simply be what is exchanged for the product or services, e.g. time, energy, or attention or any sacrifices consumers make in order to acquire a product or service. The price is the cost that a consumer pays for a product—monetary or not. Methods of setting prices are in the domain of [[pricing science]].<ref name=":2" />
; Place (or [[distribution (business)|distribution]]): This refers to how the product gets to the customer; the distribution channels and intermediaries such as wholesalers and [[retailer]]s who enable customers to access products or services in a convenient manner. This third P has also sometimes been called ''Place'' or ''Placement'', referring to the channel by which a product or service is sold (e.g. online vs. retail), which geographic region or industry, to which segment (young adults, families, business people), etc. also referring to how the environment in which the product is sold in can affect sales.<ref name=":2" />
;[[Promotion (marketing)|Promotion]]:This includes all aspects of marketing communications: [[advertising]], [[sales promotion]], including [[promotional education]], [[public relations]], [[sales|personal selling]], [[product placement]], [[branded entertainment]], event marketing, trade shows, and [[exhibitions]]. This fourth P is focused on providing a message to get a response from consumers.  The message is designed to persuade or tell a story to create awareness.<ref name=":2">Borden, N., "The Concept of the Marketing Mix", ''Journal of Advertising Research,'' June 1964 pp. 2–7; van Waterschoot, W. and van den Bulte, C., "The 4P Classification of the Marketing Mix Revisited", ''Journal of Marketing,'' Vol. 56, No. 4, 1992, pp. 83–93</ref><ref>Online Etymology Encyclopedia, <Online: {{cite web |title=Promotion &#124; Etymology, origin and meaning of promotion by etymonline |url=https://www.etymonline.com/word/promotion |url-status=live |archive-url=https://web.archive.org/web/20180108174811/https://www.etymonline.com/word/promotion |archive-date=8 January 2018 |access-date=7 January 2018}}></ref>