The 4 "P"ies of Marketing

The four P's are:

Product- is the tangible item you are selling this part of the marketing mix involves what the feature and benefits are how they have value to your customer base

Price - There are a couple different ways that the price is determined. They include; supply and demand, cost and expenses, consumer perception, and competition. There are also a few different types of pricing techniques. In psychological pricing they include: odd-even priced, prestige pricing, multiple unit pricing, bundle pricing, promotional pricing, everyday low pricing, and price lining. Discount pricing includes: cash discounts, quantity discounts, trade discounts, seasonal discounts, and promotional discounts and allowances. Price requires marketers to determine the amount of money that they will ask in exchange for their products.

Promotion - What the business is doing to get the word out.

and Place- The place, or distribution, element of marketing focuses on the considerations in getting the selected products right in place the right time. This includes what channels of distribution will be used, where will the manufacture be and any middle men. How will the products be transported, were will they be stored and how will the inventory be handled or controlled, are all components of place.

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