Tuesday, January 19, 2010

Ps of Marketing:Price, Product, Place, and Promotion

we focus on "promotion" to the detriment of other Ps in the marketing mix. When choosing programs for your marketing plan, consider each of the marketing 4 Ps ― price, product, place (distribution), and promotion. You are likely to find the results much better than if you include promotions alone.
The opportunities for incorporating all 4 Ps into your plan are numerous. You may find after studying the competition that increasing or decreasing your price is likely to result in better profits for your business, for example. Perhaps there is a distribution channel, such as electronic delivery or mail order, you haven't fully integrated into your business. With respect to products, developing a new product or giving an existing product a facelift are examples of business-building programs.