4 P's of marketing

 The four P's of marketing are ;

1) Product

2) Price 

3) Place

4) Promotion 

PRODUCT - For selling any product of any type the quality of the product is main , it is essential to make sure that product meet the needs and expectation of the target market . Marketers must always have a clear concept of what their products stands for and what differentiates them from competition before they are marketed successfully .

PRICE - Price not only refers to the monetary value of a product, but also the time or effort the customer is willing to expend to acquire . Determining this will be a critical factor in revenue for the brand as it will impact profit, supply, demand. Pricing strategy is an art and a science, in that it involves both market data and careful calculations, as well as skilfully balancing between pricing that is too high or too low, and understanding how skewing either way might damage the brand.

PLACE - In todays modern world because of the invention and acheivements through the internet can be easily achieved . Place refers to providing customers access to the product, and it also calls into play convenience for the customer. Marketing, through digital means or otherwise, is about putting the right product, in the right place, at the right price, at the right time, in front of the customer.

PROMOTION - How to make an audience aware of the product? Within the framework of the four Ps, promotion refers primarily to marketing communications.These communications use channels such as public relations, advertising, direct marketing, email marketing, social media marketing, or sales promotions; think of it as any way marketers disseminate relevant product information to their target customers.

Refrences - 

Goi, C.L., 2009. A review of marketing mix: 4Ps or more. International journal of marketing studies, 1(1), pp.2-15.

Van Waterschoot, W. and Van den Bulte, C., 1992. The 4P classification of the marketing mix revisited. Journal of marketing, 56(4), pp.83-93.