R&T Reality, the property development arm of the construction and engineering giant. R&T in a recent report to the media shared that it is better on bigger and better projects providing greater benefits to the customers, lower prices and faster execution to boost its growth. The spokesperson of the company informed the media that besides the innovative features, quality and brand, the fair pricing followed by the company is also a hit with the buyers. He said that the company is also focussing on accurate, speedy and timely delivery. Proper communication with the market was being maintained through advertising. Even dealers were to be offered incentives to boost the sales. The above para describes the combination of variables used by R&T Reality to prepare its market offering. Identify and explain the variables.

Dear Student,
This includes all the elements of marketing mix:
  • Price : Price decision includes the decision regarding the price of the product. The price of any product is determined by various factors like cost of production, demand, competition etc. Price of any product must be reasonable .
  • Product: Product decision includes the decisions regarding the decisions of the product;s quality, nature .
  • Promotion: Promotion includes techniques which are used to boost the sales of the product. This includes sales promotion, advertisement, publicity etc.
  • Place: Place decision includes all the decisions which are associated with the transfer of product from the manufacturer to the final consumer.This includes distribution channels , wholesalers, retailers etc.
Hope this information will clear your doubts on this topic.
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This is markeging mix as it includes decision related to place,product,price and promotion
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