Which of the following is included in the 4Ps of global marketing strategy?

The inclusion of Price in the 4Ps of global marketing strategy is crucial because it directly affects a company's revenue and profitability. Price not only reflects the value that a company assigns to its product or service but also influences consumer perceptions and purchasing decisions. In a global context, setting the right price involves considering various factors such as local economic conditions, competitive pricing, currency fluctuations, and even cultural attitudes toward spending.

A well-developed pricing strategy can help a business penetrate new markets, maximize market share, and ensure competitiveness against local and global competitors. Price can also affect the brand's positioning, as luxury brands often set higher prices to convey exclusivity, while value brands may adopt competitive pricing to attract cost-conscious consumers. Overall, mastering the pricing component of the 4Ps is essential for achieving effective marketing in a global landscape.