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Logout4P in marketing
Marketing is a very broad term which consist of everything from the final product to the stage where it is sold to the final customers and there are also certain terms such as 4P which are:
PRODUCT
PRICE
**PLACE **
PROMOTION
Product: It refers to your final product which is to be sold to the customer, Hence the designing and the making of the product comes under this stage. It involves all the features that the product is having hence its a very crucial step in market we can say that this is your first step towards building a brand.
Price: This steps involves the pricing of the product, before pricing the product you need to be sure that the pricing should be competitive in the market and it should be according to the competitors.
Place: This refers to the location or medium in which you want to sell your product. The location should be well researched and then selected to be fit for the product according to the current market demands. It could be online as well where you want to sell your product.
Promotion; This category refers to the advertising and promotion of the product, this includes advertising the product through various social media handles or getting the product viral so that the product has a better reach. It is also a very important stage which could actually define the growth of the product. For promotion the company should invest a lot so that return on investment could be there.