What Are the 4 P's of Marketing? Explain What Some

question 7

Essay

What are the 4 P's of marketing? Explain what some people have started terming as the 5^th 'P'.

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Definitions:

Operant Conditioning

A method of learning that occurs through rewards and punishments for behavior, part of behavioral psychology.

Classical Conditioning

A method of associative learning in which two stimuli are repeatedly correlated; eventually, the response initially due to the second stimulus is provoked by the first stimulus alone.

Self-efficacy

An individual's belief in their own capability to perform actions effectively and achieve desired outcomes.

Vicarious Reinforcement

Learning that occurs by observing the rewards or punishments that another person receives, influencing the observer's future behavior.