Mastering the 4Ps & 7Ps Modern Marketing Success
Understanding the 4Ps of Marketing
The 4Ps – Product, Price, Place, and Promotion – form the bedrock of traditional marketing. A strong understanding of these elements is crucial for any business, regardless of size or industry. Product refers to the goods or services you offer, encompassing features, quality, design, and branding. Price dictates the value you place on your product, considering factors like production costs, competitor pricing, and perceived value. Place involves the distribution channels – how your product reaches the customer. This could be through physical stores, online marketplaces, or direct-to-consumer sales. Finally, Promotion covers the methods used to
