Created in the 1950s, the 4 Ps of marketing are the ingredients combined to capture and promote a brand or product’s unique selling points, those that differentiate it from its competitors.
- Product – A tangible good or an intangible service that fulfills a need or want of consumers.
- Price – Price determinations impact profit margins, supply, demand, and marketing strategy.
- Place – Evaluate the ideal locations to convert potential clients into actual clients.
- Promotion – The many ways used to disseminate relevant product information to consumers.
Essential Skills & Abilities
- Understand why the primary attributes are important in offline and online marketing
- Identify each primary attribute and the sub-attributes that comprise each primary attribute
- Evaluate the importance of each P in an online business model and how they are evolving
- Prepare an outline of a marketing plan for your business
- Develop a marketing plan for your business