Fill in the Blanks
Complete the text
The
four
Ps
of
marketing
describe
the
decisions
businesses
make
to
bring
a
product
to
market
:
what
they
(
product
)
,
what
they
(
price
)
,
where
it
?
s
(
place
)
,
and
how
they
it
(
promotion
)
.
Creating
a
marketing
campaign
with
an
understanding
of
the
itself
.
Who
it
and
why
?
What
does
it
do
that
no
product
can
do
?
Perhaps
it's
a
new
thing
altogether
and
is
so
compelling
in
its
design
or
function
that
consumers
will
have
it
when
they
see
it
.
The
job
of
the
marketer
is
to
the
product
and
its
and
introduce
it
to
the
consumer
?
the
basic
marketing
of
a
product
(
or
service
)
.
Defining
the
product
is
also
key
to
its
distribution
.
Marketers
need
to
understand
the
of
a
product
,
and
business
executives
need
to
have
a
plan
for
dealing
with
products
at
every
stage
of
that
life
cycle
.
The
type
of
product
also
dictates
,
in
part
,
its
,
placement
,
and
promotion
.
Price
is
the
that
consumers
will
be
willing
to
for
a
product
.
Marketers
must
link
the
price
point
to
the
product's
real
and
perceived
value
,
while
also
considering
supply
costs
,
seasonal
discounts
,
competitors'
prices
,
and
retail
markup
.
In
some
cases
,
business
decision
-
makers
may
the
price
of
a
product
to
give
it
the
appearance
of
luxury
or
.
Or
,
they
may
the
price
so
more
consumers
will
try
it
.
Marketers
also
need
to
determine
when
and
if
discounting
is
appropriate
.
A
discount
can
draw
in
more
customers
,
but
it
can
also
give
the
impression
that
the
product
is
less
than
it
was
.
Where
the
product
should
be
,
in
brick
-
and
-
mortar
stores
and
,
and
how
it
will
be
.
The
decision
is
key
:
The
makers
of
a
cosmetic
product
would
want
to
be
displayed
in
Sephora
and
Neiman
Marcus
,
not
in
or
Family
Dollar
.
The
goal
of
business
executives
is
always
to
get
their
products
in
front
of
the
consumers
who
are
the
most
to
buy
them
.
That
means
placing
a
product
only
in
certain
and
getting
it
displayed
to
the
best
.
The
term
placement
also
refers
to
the
product
in
the
right
media
to
get
the
attention
of
its
of
consumers
.
The
goal
of
promotion
is
to
to
consumers
that
they
this
product
and
that
it
is
priced
.
Promotion
encompasses
advertising
,
public
relations
,
and
the
overall
media
strategy
for
a
product
.
In
the
digital
age
,
the
"
place
"
and
"
promotion
"
factors
are
as
much
online
as
offline
.
Specifically
,
that
means
where
a
product
appears
on
a
company's
web
page
or
social
media
,
as
well
as
which
types
of
search
functions
will
targeted
ads
for
the
product
.
The
four
Ps
provide
a
framework
on
which
to
build
your
.
Think
through
each
factor
.
And
don't
worry
when
the
factors
overlap
.
That's
inevitable
.
First
,
analyze
the
product
you
will
be
marketing
.
What
are
the
characteristics
that
make
it
?
Consider
similar
products
that
are
already
on
the
market
.
Your
product
may
be
tougher
,
easier
to
use
,
more
,
or
longer
-
lasting
.
Its
ingredients
might
be
environmentally
friendly
or
naturally
sourced
.
Identify
the
qualities
that
will
make
it
appealing
to
your
target
consumers
.
Think
through
the
appropriate
price
for
the
product
.
It's
not
simply
the
cost
of
production
plus
a
profit
margin
.
You
may
be
it
as
a
premium
or
luxury
product
or
as
a
bare
-
bones
,
lower
-
priced
alternative
.
Placement
involves
identifying
the
type
of
,
online
and
off
,
that
stocks
products
like
yours
for
consumers
like
yours
.
Your
promotion
strategies
can
only
be
considered
in
the
of
your
target
consumer
.
The
product
might
be
appealing
to
a
hip
younger
crowd
or
to
upscale
professionals
,
or
to
bargain
hunters
.
Your
media
strategy
needs
to
reach
the
right
with
the
right
message
.
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