Playstation 3

Every American is subjected to marketing every day, and it is the marketing structure that makes the products and services we purchase appealing to us.   The marketing firms use the four P’s when dealing with various products and services: Price, Product, Place, and Promotion.   Each of these items plays an important part in the marketing structure and how consumers make their purchases.
The first P of the marketing mix, Price, is part of the company’s marketing strategy that determines the price of the product or service being offered based on the cost of the materials needed and cost of labor that make the product.   Pricing can determine the company’s image in addition to the image of the product.   The company’s marketing team need to have a good understanding of the effect the price of the product will have on the demand quantities and should perform market research that supports certain tolerances in pricing within the target market for this will help set the right pricing for the product or service being offered.   If the product offers a choice of bundling with accessories, the price should reflect the discount of the bundle in relation to purchasing the product and accessories individually.
The Next P in the marketing mix, Product, is the physical product or service being offered.   The marketing team should be focused on the product’s brand name, how the product functions, the safety of the product or service, how the product is styled, and the quality of the product being offered.   The product should also be viewed by its warranty options in regards to repair and support, and its accessories and services.   Consumers are more likely to purchase a product from a “name brand” company than from a company that no one has ever heard of.   In addition, a product that has an appealing design and packaging that catches the eye will sell more products than if the product came in a plain, boring box.
The third P of the marketing mix, Place, or distribution is the...