| Product |
A product/service is seen as an item that satisfies what a consumer demands.
- Does the product you offer meet your targeted customers’ needs and expectations?
- Do you need to add or develop your products?
- What is special and different about your product?
- How should you present your product?
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| Price |
The price is very important as it determines your profit and your positioning.
- What do your competitors charge?
- What is the value of the product or service to the customer?
- Is your customer price sensitive? Or is price not an issue?
- What discounts could be offered to specific segments of your customer market?
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| Promotion |
Promotion is the methods of communication that you may use to provide information to different parties about the product.
- Where, when and how can you get across your marketing messages to your target market?
- Will you reach your audience by advertising in publications, TV, radio, or on posters/flyers? Through PR? On the Internet?
- When is the best time to promote? Is there seasonality in the market?
- How do your competitors promote themselves? And how does that influence your choice of promotional activity?
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| Place |
Place is about providing your product and promotion in a way which is convenient and visible for your consumers to access.
- How can you access the right distribution channels?
- What do your competitors do, and how can you learn from that and/or differentiate?
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