Explain 4 Ps of Marketing with example

The four Ps are product, price, place, and promotion. Now let’s discuss each one by one.

1. Product:- A product is the good or service which is sold to the consumer/customer. We must keep in mind that our product is meets the market/user needs. It must be fulfilled our targeted audience. For Ex - iPhone

2. Price:- Price is the cost of a product or service. It is the most important aspect because sometimes we may raise the price of a product to make it luxury Or sometime we may lower the price so more consumers will try it or they think it is affordable. For ex - McDonald Burger

3. Place:- Place is where we can sell our product to the right audience. If we cannot target our audience to the right place then we can’t meet the sales of our business. In short, our product must be available where the customers need that. For ex - Redmi Phones on flipkart

4. Promotion:- In this we promote our product through various methods like running online campaigns, ads, collaboration, etc. Some traditional methods are word of mouth, posters, and television commercials. For ex - Indian Cricket Team Jersey