The ingredients to the Mix
The four P’s
All businesses small or large all share many things in common. They each started with an idea, some failed but great business with the proper steps taken developed into what is known as a successful running business. . There are very important key components to any thriving successful business. One of these key components is known as the four P’s of the marketing mix these are important for all and any business. This specific strategic plan known as the four P’s, consist of a Product, pricing, placement, and promotion
The start of business begins with an idea, and idea that will provide a service, and or product. In the case of the 4 P’s Product is the first component to a successful business. Having a unique product is the most important factor in a business. A product must be unique to its market, needed, and most important quality. Pricing is also a key component of a business, when you know your product and market it is very important to set a price that will appeal to your consumers. If you know you have a product that will catch the eye of a buyer the next step is to keep their attention. What better way to do so then with a price they cannot turn away from. This will ensure customer purchase. Placement is the third addition the mix. Location can often time be the deciding factor in the success or failure of a company. A good location for a business means constant customer flow thus generating more revenue/profit. Promotion is hand in hand with each of these listed components. Grasping your audience is the first step in making sure your product is worthwhile, having a good sales team, as well as a great marketing team will assure sales if your product or service.
Having a solid P system/plan will help any sales team do an effective job. These are the tools needed to help marketers effectively accomplish/complete their sales goals. I don’t think that one is more important than the other; each of these “P’s” is needed to make the other succeed. Within a business the “P’s” work together to accomplish the goal of selling a product/service.
The last time I went shopping I bought…