4 P's of Marketing
4 P’s of marketing
Dear Friends today I am going to describe 4 P’s of marketing these are also considered as the pillars of marketing platform.
First P; Product: Of course you have to have something to sell and that is called product. Also the right product in the market matters a most. So start with a good product is a must.
Second P; Price: The pricing of a product is as necessary as the product quality is. It certainly means that one can’t sell a very good quality product on very high price if market doesn’t support the same. One cant charge high premium in a low profile market. On the other hand very high profile customer won’t like to pay very little price for even a good quality product.
Third P; Placement: Placement is again a very important factor to sell a product. Imagine selling boats in a desert. Identifying the market needs and placing a product in the right place is a hurrah for any product.
Fourth P: Promotion: Promotion is a very important factor in selling a product. Big and renowned organizations are allocating their major amount of budget in promotional activities like Road shows, Exhibitions, Advertisements in media etc. Promotion is the most important factor in selling a product.
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