Wk 6 - Apply: Signature Assignment - Strategic Marketing Plan

THE 4 P’s

Product: Your product may be anything sold for profit, whether that means a physical good, or a service.

Price: In simplest terms, the monetary value charged in exchange for a good or service. Prices must be set competitively against market rates, taking profit margins and other factors into consideration.

Promotion: Once a product or service is on the market, it then needs to be promoted. Here is a short (and by no means comprehensive) list of broad promotional channels:

· Digital and traditional advertising.

· Content, email, and social media marketing.

· In-store signage.

· Public relations and media placement.

Place: In this context, place refers to the geographical area where a product or service is shipped or made available.