Price . Place . And promotion . Together. They work to market your product or service in a way that meets the nes of your customers and generates revenue for your business. Basically. The four ps make it clear that there’s more to marketing than just promoting your product or service. Of course. Promotion is part of it. But you don’t get very far without pricing and positioning. Let’s examine each piece a little closer. Product the first p. Product. Refers to the product or service you are marketing .
Once you have a concept
This product should be something that aligns with your business email List and meets the nes and wants of your customers. So. For this piece. You’ll want to focus on developing a product or service that ticks both boxes. To do this. You could conduct market research with the audience you want to target. Or. Survey current customers to learn what else they expect from your company. Once you have a concept. You can work to refine it into an ideal product or service for your audience.
Market research is helpful.
Price the price of your product or service will play a significant Phone Database role in your ability to sell it. Is your price something your ideal customer can afford? Is it competitive on the market? What does your price say about the audience you are targeting? Again The four ps make . Market research is helpful. You should gather responses from your ideal market to determine a price point. For what you are offering that your customers will be willing to pay. Place positioning is all about. Where you position your product or service to get in front of customers.