19. Discuss the 4Ps of marketing, establishing and focusing on the ones most relevant to your project
The 4Ps of marketing: Product, Price, Promotion and Place . Right product with right price and promotion at the right place. Purely Branded (2017) describes 4Ps as; Product The first P in marketing is product, refers to an item or service that meets the desires or needs of consumers. It is important to have in depth understanding of the product and features to market it effectively. Price Depending on the various price points, similar products and brands may need to be positioned differently. Once we have a thorough understanding of the product we are offering, we can begin to determine the pricing. The decisions we make about pricing will have a significant impact on factors such as profit margins, supply and demand, and marketing strategies. Promotion Promotion involves the various methods to distribute information about a product to consumers and make it stand out from the competition. This includes advertising, social media marketing, email marketing, search engine optimization, v