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What is Traditional Services Marketing Mix Explained about?

The traditional marketing mix for services involves the four Ps: product, price, place, and promotion. For services, the product is the technical and functional outcomes. Price is an important factor as consumers use it to judge quality, and services use differential pricing strategies like yield management. Pricing is determined by objectives, costs, demand curves, elasticity, competition, operations, and the entire marketing mix. Services modify prices through bundling, discounts, and memberships to boost

Author

Wossen Belete

Language

EN