In todays consumption oriented world, nothing happens without marketing. There are many choices and options with the customers. To satisfy different needs and wants of the consumers thousands of products and services have been created.
Exchange of goods and services to satisfy the needs and wants of consumer is called in simple words Marketing.
For a marketer it is essential to know what drives value for the customer In short marketer needs to capture data first of all that what is important to the customer. On the basis of this understanding value proposition of your own product or service is projected.
It is very important for a marketer to identify the customer and segments where we can create more value compare to the competitors. For this a marketer should clearly know the 4Ps on offer namely product price , place and promotion to catch the attention of the consumer. Out of this 4Ps also , product , place, and promotion are expenditure heads, only price is the revenue head, So to fix the price that makes it clear that customers are receiving value but also maximize profits also