The 4Ps of Marketing is a famous concept that tackles the 4 basic pillars of marketing: product, place, price, and promotion. This is a simple concept but certainly helpful for those who are starting in the field of marketing and business as it talks about the 4 most important things to consider in entrepreneurship.⠀
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⭐Product talks about what the company sells. It is everything that is available to purchase and all that is for the customer. You have to strategize on what kind of product you should sell.⠀
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⭐Price is all about how much you would sell your product. Find the right price and make sure that at the end of the day, you’ll get profit from it. Research about the prices of your competitors and try to decide on how much you’ll sell the product for. ⠀
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⭐Place talks about the setting where you would need to market your product. See to it if you can sell it on a larger or a smaller market, depending on your budget. You may start selling on smaller market first to see if the product would sell successfully.⠀
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⭐Promotion is how you would market your product to your audience. There are a lot of ways on how you can promote it, either in person, in social media, through emails, or direct sellers. To promote the product, you must have full knowledge about it to answer queries from possible consumers that would love to try your brand.⠀
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The 4P’S of Marketing | Marketing Techniques
