4P’s of Marketing Mix

4P MARKETING MIX PRICE PRODUCT Products are the goods and services that your business provides for sale to your target market. When developing a product you should consider quality, design, features, packaging, customer service and any subsequent after-sales service. Price is concerned with the amount of money that customers must pay in order to purchase your products. There are a number of considerations in relation to price including price setting, discounting, credit and cash purchases as well as credit collection. 24 PROMOTION PLACE Promotion refers to communicating the benefits and value of your product to consumers. It involves persuading general consumers to become customers of your Place refers to distribution and methods of getting the product to the customer. This includes the location of your business, shop front, distributors, logistics and the potential use of the internet to sell products directly to business using methods such as advertising, direct marketing, personal selling and sales promotion. consumers.