Question

Use a local restaurant to provide an example of the 4 Ps marketing mix framework. Provide a specific example for each P.

Answer 1

4 Ps of marketing mix stands for Product, Price, Place, and Promotion. "White Manna" is the local restaurant I am talking about in this question. The 4 Ps of the marketing mix helps the restaurant to grow there business. It helps the restaurant to achieve its annual objectives effectively and also helps to increase their sales, there profit margins, there customers, etc. This is only possible if they use the marketing mix accurately. The product of marketing mix states that you should provide your customers quality of products which will help them to trust you as a restaurant and quality is what they always look for. It is basically goods and services given to the customers by the restaurant. An example of a product is any specific product's packaging. Price is another factor that includes the price of the product the customer has to pay to you in return for the product. Your price should be the best because it will attract customers. An example of the price is that you have a grilled sandwich and you have the best price of that. The place is another factor as the restaurant should be at a place where it provides benefits to you as if you have a restaurant in an area where someone hardly comes then your business will not grow. So place matters a lot in doing a successful business. An exampleple of the place is that you will prefer to have a restaurant where a lot of people come. Promotion is the last factor as it provides promotion of your restaurant so that more people will get to know about your restaurant and it will help you to grow your business. An example of a promotion is that you use a nan advertisement to promote your restaurant so that people will get to know about your restaurant.