The 4 Ps (Product, Price, Place, Promotion)

The 4 Ps—Product, Price, Place, and Promotion—are key factors in marketing a product or service. Product refers to what you're selling, including its features and benefits. Price is how much the customer pays, reflecting value and competitiveness. Place involves where and how the product is distributed, ensuring it reaches the right customers. Promotion covers the methods used to communicate and persuade potential buyers, such as advertising and sales tactics. Together, these elements help businesses meet customer needs effectively and achieve sales goals by creating a balanced and strategic approach.