Explain the 4Ps of marketing.

Explain the 4Ps of marketing.

The 4Ps of marketing comprise of :

a.Product: which is a good,service or idea offered to the individual customer and include its design,quality,packaging,after-sale service etc.

b.Price: the value offered by the seller to the buyer for purchasing his goods or services which is arrived at after adding profits to the costs incurred by the seller.

c.Place: it maybe the virtual (like online websites) or physical space where the interaction between buyers and sellers take place.

d.Promotion: which include all those activities aimed towards reaching out the product to its customers and motivating them to buy it. Tools like advertising,personal selling, public relations etc. maybe used to promote the product.