Marketing Overview

 What are the 4 P’s of Marketing ?

The 4 P’s of marketing are “ Product, Price, Place and Promotion”

Product :  The job of marketer is to define the product and its qualities. Product and service is the backbone of any business so its essential to work upon its product(services).

Price :  Price is the amount that customers will be willing to pay for a product. Marketers must link the price product to the product’s real and perceived value, while also considering supply costs, regular sales, seasonal discounts, and competitor’s price and retail markup.

Place :  Place is the consideration and of where the product should be available - in brick and mortar stores and online - and how it will be displayed. Place is very important to reach through potential of any business. 

Promotion :  The goal of promotion is to communicate to consumers that they need this product and that it is priced appropriately. Promotion encompasses advertising, public relations, and the overall media strategy for introducing a product.

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