The 4 P's of marketing are the key factors that are involved in marketing a product or service: 1. Product - The goods or services being offered for sale and how they fulfill consumer needs. 2. Price - The cost to consumers and how it is linked to the product's value and competitors' prices. 3. Place - The location where the product is sold and ensuring it is in front of likely consumers. 4. Promotion - Advertising, public relations, and strategies to make consumers aware of the product and reasons to buy it at a certain price. The 4 P's framework helps companies identify important factors like customer wants, how the product meets needs, competitor differentiation, and

1. The 4 P’s of Marketing
Step-by-step Guide

2. You may have heard it from friends or may
have read in a book during schooling and
studies and it looks like a boring topic but it’s
important in real life.
The four Ps of marketing are the key factors
and the pillars that are involved in the
marketing of a good or any service. The idea
behind the theory is to give people knowledge
about how to generate more sales in their
businesses.

3. The four P’s of marketing are:
1.Product
2.Price
3.Place
4.Promotion

5. Product:
The Product is what the company sales that can be anything like
food, drinks, clothing or any kind of services like consulting,
motivation speaker, plumber etc. When choosing your product or
services always need to choose the product that is in the
consumer existing or new demand or fulfill the needs of the
consumer. The product must be important in the consumer’s life
cycle. The type of product also partially dictates how much
businesses can charge for it, where they should place it, and
how they should promote it in the marketplace.

6. Price
Price is the cost consumers pay for a
product. Marketers must link the
price to the product's real and
perceived value, but they also must
consider supply costs, seasonal
discounts, and competitors' prices. In
some cases, business executives
may raise the price to give the
product the appearance of being a
luxury. Alternatively, they may lower
the price so more consumers can try
the product. While sometimes needs
to less the price by putting some
percentage off on a product.

7. Place
Place is “location” where you are selling your products. As in
marketing they say, it’s all about location, location, location.
Choosing the right location is one of the most important part of
marketing. You must know where is the right place to sale your
products. For example, if you are going to sale jewelry in
vegetable market or going to sale vegetables in the clothes
market no one going to buy your products because it not the
thing they are looking for in that place. Always remember to
put your products in front of the consumers that are the most
likely to buy them.

8. Promotion
Promotion includes
advertising, public relations,
and promotional strategy. The
goal of promoting a product is
to reveal to consumers why
they need it and why they
should pay a certain price for
it. Marketers tend to tie
promotion and placement
elements together so they can
reach their core audiences.

9. These 4 P’s are used by companies to identify
some key factors for their business, including
what consumers want from them, how their
product or service meets or fails to meet those
needs, how their product or service is perceived
in the world, how they stand out from their
competitors, and how they interact with their
customers.