4 Ps (Product, Price, Place, Promotion)

The 4 Ps—Product, Price, Place, and Promotion—are key elements in marketing. "Product" refers to the item or service offered to satisfy customer needs. "Price" is what customers pay for it; setting the right price balances value and profit. "Place" involves where and how the product is sold, ensuring accessibility for customers. "Promotion" includes the methods used to advertise and communicate the product’s benefits to attract buyers. Together, these elements help businesses meet customer expectations, stand out in the market, and achieve sales goals effectively.