Discuss the 4Ps of marketing, establishing and focusing on the ones most relevant to your project

 What are the 4Ps of marketing :

1. Product

The first of our 4 Ps is the product. Your brand has developed a product or service that solves a problem or need of a consumer. This is your starting point.

2. Price

The second of our 4 Ps is the price, otherwise known as the monetary value of the product or service that the consumer will pay. This P is based not only on the fair monetary value of the item/service, but must also consider the overall supply costs, what prices other brands are selling it at, and more.

3. Place

The overall goal of any marketing effort is to get consumers to see your product, so your team must know where they’ll be selling the product. Will it be online? In a physical store? Alternatively, does your service come to the consumer?

The “place” can also refer to where the product’s being marketed, such as through email, on social media, on a website, and more.

4. Promotion

The final P is the promotion of your product or service. The promotion is how your product/service is presented to the public and the marketing strategy behind it. (The four PS of Marketing explained, 2021)

(W. and Pratt, 2022)

The most relevant to my project are :

Product and price, because they are the most important factors for the customers.

References :

The four PS of Marketing explained (2021) Campaign Monitor. Available at: https://www.campaignmonitor.com/resources/knowledge-base/what-are-the-4-ps-of-marketing/ (Accessed: March 6, 2023).

by, W. and Pratt, M. (2022) What is the 4P marketing matrix?, Business.org. Available at: https://www.business.org/marketing/sales/marketing-101-4p-matrix/ (Accessed: March 6, 2023).