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Marketing may sound like an easy concept, but in reality, it is far more complicated then what it looks. For efficient marketing, there is a lot to be be done apart from the production and distribution process. The job of marketing becomes challenging when done correctly starting from the basics. To market a product well, there are a lot of steps that need to be done in the right manner. Extensive research about the time of launch, place, and other requirements has to be conducted. The 4p’s of marketing are the four pillars of any business. They help in generating strategies and techniques to increase the demand and sales supply of a product.
Product :- To market a product well so as to generate maximum sales, it first becomes essential to generate some general information about consumer dynamics and how they will respond to the product you intend to market. For this, a lot of Q&A takes place. These questions include details about the pros and cons of the product, the target audience, and the strategies that will take the sales to the highest point.
Place :- The place where a product gets launched for the very first time is a crucial element in marketing. It requires skill and presence of mind to choose the right place to market the product. In the case of online marketing, the idea of publishing it online becomes a significant factor.
Price :- You can launch and create hype for your product very well, but it will not yield any results until and unless the consumers actually buy it. Convincing the consumers to buy your product is the primary objective behind all the marketing strategies. The consumers will not buy a product whose price keeps fluctuating or does not match their purchasing power. Knowing your audience well becomes crucial here.
Promotion :- Promotion of a product is very important to let your target audience know about the product. Promotion deals with the employment of strategies and techniques that will make the audience aware of the existence of your product. This includes conferences, advertising, and public relation activities.
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