Every true marketeer worth his salt knows all about the power of the four Ps. Or at least that is what they tell me. Here are the four Ps along with a short description just in case you do not already know what all this P stuff stands for (shame on you):
- Product - build a product that meets as many of the market needs as possible.
- Price - set a price that most of the consumers will pay and from which they perceive a worthwhile value (and that delivers a profit so that you can stay in business).
- Place - focus on the places to sell your products where the chance of success is the highest, especially in the beginning.
- Promotion - find out the best channels and means to increase visibility and make the attractive features known to a wide public.