Managing 6Ps for effective marketing strategy of business firms

There are several prominent sectors of economy in every country wherein, plethora of business firms lock their horns with other competing firms in the same sector of economy to outpace them in terms of impetus to the sales, ample of contributions to the profits and experience continued growth to consolidate their market position and sustain business operations. However, it is not that very easy. It is herculean. It is challenging. It is demanding. The mankind witness evolution and extinction of business firms every year. The economic playground has become dynamic in nature. The rise and fall are two sides of a coin in every business and a lot depends upon the right marketing strategy of the business firm keeping in mind the requirement of potential/ prospective customers who would buy and/or consume the product/ service with a sense of satisfaction. A business firm that is blessed with loyal customers to its range of products on account of intelligent marketing tactics is likely to succeed in the marketplace and become humongous in terms of its turnover, product range, employees, and profits in due course of time. In this paper, the researchers have tried to discuss the right marketing strategy comprising 6Ps i.e., Product, Price, Place, Promotion, People and Processes which is a gateway to success for business firms, if devised intelligently and customer friendly.