The “Four Ps” of marketing strategy, also known as the "marketing mix," are basically applicable to all businesses. TEC’s two-part blog post series in 2008 talked about the importance of pricing management in a down economy. Price and promotion in particular are the lubricants in retailing, although the two remaining Ps--product and place, are indisputably important there as well.
In his guest
out There The ongoing recession has been raging for well over a year, and consumer anxiety continues to increase due to record unemployment rates (over 10 percent in the US), volatile fuel prices, the well-publicized housing crisis (i.e., US home sales have potentially hit rock-bottom), and the tight credit situation. Competition is also ever more extreme in the retail sector, with big box (discount or mega) stores proliferating, specialized niche retailers popping up, and ongoing consolidation