Market strategy or business analysis is made up of four P's, i.e. product, price, promotion and placement. Let’s elaborate the four p’s and understand what to they mean :-
Product: A service or a good that has been designed to fulfill the demand of a particular audience.
Price: The pricing of the product plays a huge role as it affects everything be it profit margins, supply and demand as well as market strategy. The whole economics of the service nor the product designed depends on the pricing done.
Promotion: The aim of promotion of the service or product is to present the product to the target audience and to showcase the value of the product and services. Promotion includes advertisements, public relations, marketing campaigns and every thing that makes the customer aware of the product. Promoting a product leads to a healthy demand of it in the market.
Placement: The transaction may not happen on the web, but rather in today's computerized economy, the client is by and large connected with and changed over on the web. Regardless of whether the item will be given in blocks and-mortar or clicks-and-mortarshops, or accessible through an omnichannel approach, the ideal channel, or channels, for position must be resolved if the focused on potential clients are to end up noticeably genuine clients.
