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Companies focus on sales and advertising only after all other factors of marketing have been determined. This unit will teach you that marketing departments focus on a set of core principles, most of which are summarized by the 4 Ps (product, price, place, and promotion). The 4 Ps are also known as the marketing mix.
The oldest â and perhaps simplest and most natural form of marketing â is 'word of mouth' (WOM) marketing, in which consumers convey their experiences of a product, service or brand in their day-to-day communications with others.taying ahead of the consumer is an important part of a marketer's job. It is important to understand the marketing environment in order to comprehend the consumers concerns, motivations and to adjust the product according to the consumers needs.