4 P's of Marketing

Product, Place, Price, Promotion

Explanation of the 4 P's of Marketing

The 4 P's of marketing (product, place, price, promotion) work like a table. All four together they can stand and work but them by themselves will fall. First you need a product that meets a target group and is in demand by consumers. This is important in creating the "base" to decide the next three steps. Then you need a price, which could be retail, online, discount, etc. A price to much can leave you in big trouble so it is important to pick a price you would pay for your product. Now a place where you can sell it, online, in a store, even on your driveway. It is important because this creates the best place to reach the consumer. Last, promotion such as social media, commercials, or something as simple as a flyer. This is important to get the word out and get the ball rolling. You can't just pick random ones of each to make the perfect marketing technique. They all fit like a puzzle. For example a TV commercial wont be the best approach to a lemonade stand in your driveway. Just take your time and think of the best way to do things and you will will create the perfect product, place, price, and promotion!
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