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Jason Sohan
Dr. Brent Baker
MAR 6805
1/24/2021
Application Assignment 1
Question 1
The marketing mix, or 4 P’s of marketing may seem like just four simple words, however
they each mean something to the fundamentals of marketing. Product, place, price and promotion
are essential and serve as the basic elements in order to understand the American Marketing
Associations definition. “Marketing is the activity, set of institutions, and processes for creating,
communicating, delivering, and exchanging offerings that have value for customers, clients,
partners, and society at large.” (AMA,2007) We must first understand that product, place, price
and promotion are all controllable variables which must be managed to meet the needs at
different levels of a firm.
As a consumer we think of a product as something that is being sold. In marketing,
product means a great deal more than just something that is tangible. We must let our curiosity
takes it course when understanding how product ties into the AMA marketing definition.
Anything that adds value to the product should be taken into consideration. Factors in which
would influence a customer to purchase the product should be taken into consideration such as
quality, options, packaging and warranties. Understanding that a product is not merely just a
