The “Four Ps” of marketing strategy, also known as the "marketing mix," are basically applicable to all businesses. TEC’s two-part blog post series in 2008 talked about the importance of pricing management in a down economy. Price and promotion in particular are the lubricants in retailing, although the two remaining Ps--product and place, are indisputably important there as well.
In his guest
selective information processing
becoming more knowledgeable, more selective, and, in many instances, more price-sensitive. Especially in the Internet and social networking era, consumers today devote considerable time to researching products and comparing prices prior to purchasing and have a greater array of choices in price, size, brand, color, and features. As mentioned earlier on, the growth of discount stores, warehouse clubs , and dollar stores , as well as the emergence of the Internet as a viable retail destination