Discuss the 4Ps of marketing, establishing and focusing on the ones most relevant to your project
Product: This base on what you are selling. if it a specific product or it's a service, the product could be a physical product, an online app or a service such as house cleaning. Really, anything that you're selling is the product. Then, think of your brand messaging, the services you offer, and even packaging. When you define your product, think about what problem your product solves for your customers.
Price: This consider how much you're going to charge customers for your products or services. By all means, you need to make your profit. If you are coming up with your pricing strategy, you also need to think about what competitors are charging for the same product or services and how much customers are willing to pay. You can also think about what discounts and offers you can use in your marketing.
Place: This mean the physical location of your company, but it could also be defined as anywhere you sell your product, which might be online. The place is where you market and distribute your product.
Promotion: This is when you'll think about how to publicize and advertise your product. Additionally, you'll discuss brand messaging, brand awareness, and leads generation strategy. When it comes to promotion, keeping communication in mind is of the utmost importance.
Reference:
Riserbato, R. (2021) What are the 4 PS of Marketing? the marketing mix explained [example], HubSpot Blog. HubSpot. Available at: https://blog.hubspot.com/marketing/4-ps-of-marketing (Accessed: March 14, 2023).
Khotmanee, P. (no date) Marketing mix 4PS concept in business., 123RF. Available at: https://www.123rf.com/photo_39285179_marketing-mix-4ps-concept-in-business.html (Accessed: March 14, 2023).
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