The 4 P's of Marketing
by Zoe Decker
The product is what you are selling, it could be an actual item or a service. The factors that can make your product more or less successful are the variety, quality, design, packaging, and brand of the product.
Place is about distribution, how and where will your clients find your product. The marketing factor place also deals with delivery, retail location, and is it downloadable. Logistics is a major key factor to place. Logistics is all about how much of the product you need, where it needs to be stocked, and how you are gonna get it there.
The price is the amount you charge customers when they purchase your product. The price includes retail, discount, bonuses, payment plans, and credit terms. Basically anything relating to money goes with the price factor of marketing. Discount and bonuses lower the price of the product while payment plans and credit terms make it easier for customers to purchase your product.
Promotion is what most people think of when they hear the word, marketing. Promotion includes advertising, personal selling, sales promotion, public relations, sponsorship, sales calls, brochures, and emails. All of these strategies help get information out about your company.