This is basic marketing model that combines 4 element; product, price, promotion and place.
1) Product – it can be tangible product or intangible service that fulfill a need of consumers. Know your product/service well and identify its USP (Unique Selling Points) to market them successfully. Not to forget the quality too must be tip top to maintain success in the long run.
2) Price – once product/service description/specification established, come pricing stage. Elements to be considered when determining the price includes profit margins also supply, demand and marketing strategy.
3) Promotion – whether you engage a marketing agency, do it yourself or by your staff, marketing your product to consumers is crucial. There are many ways to disseminate product information and differentiate your product/brand positioning, which include advertising, public relations, social media marketing, email marketing, search engine marketing, video marketing and more.
4) Place – even nowadays people tend to buy items online, survey must be done whether to do it offline or both by online and offline. If you want to do it offline, it’s critical then, to evaluate what the ideal locations are to convert potential clients into actual clients.