Four thing that must be present for marketing to occur
1. Two or more individuals or organizations with needs that are unsatisfied
2. Both the desire and the ability to satisfy those needs
3. A manner in which the parties can communicate
4. Something that the parties can exchange
There are four elements that must be present for marketing to occur:
Product: A product or service must be available for marketing to occur. This can be a physical product, a service, or an idea that needs to be promoted.
Price: There must be a price associated with the product or service. The price should be set at a level that is acceptable to the target market and provides a profit for the company.
Promotion: Promotion is the process of communicating information about the product or service to the target market. This can be done through advertising, personal selling, public relations, or other forms of communication.
Place: Place refers to the location where the product or service is available for purchase. This can be a physical location, such as a store or office, or a virtual location, such as a website or online store. The product or service must be available in a place that is convenient for the target market to access.