Four P's of Ideas

The Four P's of marketing and ideas make up what is called the marketing mix. The four P's are: Product, Price, Place and Promotion. These are used in coming up witha  good business plan for new ideas.

Product: Product consists of the different aspects and qualities of a product or service such as:
-Quality
-Design
-Brand
-Packaging
-Features

Price: Includes not only the physical price but the credit terms, discounts, allowances and incentives used to help sell the service or product. Discussed more with pricing strategies in the 26-50 Tab

Place: Refers to the different market segments, target markets and market qualities that make up the area in which a product or service will be marketed and ultimately sold.

Promotion: Refers to promoting and advertising a product to the target customers. It includes the different channels, bundling, advertisements, promotions and pricing to attract customers and ultimately sell a product.