4Ps (Product, Price, Place, Promotion)

The 4Ps—Product, Price, Place, and Promotion—are key elements of marketing strategy. "Product" refers to what you’re offering to meet customer needs, including its features and benefits. "Price" is how much you charge, balancing value for customers and profit for your business. "Place" involves where and how the product is distributed, ensuring it’s accessible to buyers. "Promotion" encompasses the ways you communicate and persuade customers to buy, such as advertising and sales efforts. Together, these elements help a business effectively reach its target audience, satisfy their needs, and achieve sales goals.