4Ps class task

 Recently, we were having a lesson about the four Ps of marketing. This model was developed through the years firstly by Borden, and then over the years Jerome McCarthy have shorten it to just 4 elements, which are - product, price, place and promotion.

1. Product - it is the first of four Ps of marketing model, as a good businessman you have to think which product you want to sell, either if it is real, digital, or you are offering some kind of service. You need to make your product exclusive (Branded, 2021).

2. Price - second element of the Ps model. You have to demostrate knowing of market here, and show understanding of your product, service market by making a concrete price. You need to have a good price strategy, it will impact your profit and demand of the product (Branded, 2021).

3. Place - it is crucial to have an idea where is a perfect spot to advertise or sell your product, which area you are going to have the most profit and a lot of potential clients. These days, most common place is an internet (Branded, 2021).

4. Promotion - as a good businessman after you have a price, and a product you have to promote it to gain attention and demand. It includes advertising, social media marketing, email marketing or public relations. Everything must be on the highest quality to interest potential clients (Branded, 2021).

Reference list: 

Branded, P., 2021. The Four Ps of Marketing. [online] Purely Branded | Cleveland Web Design and Development. Available at: <https://www.purelybranded.com/insights/the-four-ps-of-marketing/> [Accessed 3 March 2021].