Learn The 4 Ps Of Marketing Here
Your economics teacher held classes to teach you the Ps of marketing, but you skipped the classes. Somebody told you that the concept is important for every business, but you didn’t pay much attention. And now, when you want to start your business, you want the right know-how. No worries. Here are the 4Ps explained in a digestible manner for you to use the knowledge in your marketing operations. Read on. The Concept Of 4Ps No matter what your business is all about, every marketing strategy comprises 4 fundamental pillars- namely product, price, place, and promotion. The concept may be seeming easy at first, but the theorem gets complicated when it comes to executing it in a practical setup. McCarthy was the man who coined the 4Ps, in his book, “Basic Marketing: A Managerial Approach” in 1960. First P: The Product The first P stands for “Product”. The product is the commodity or service your company sells. It could be a shampoo or doughnuts or any other commodity...