the 5 p's of marketing

Question 1

what are the five p’s

Answer 1

people
product
price
place
promotion

Question 2

people

Answer 2

who will buy this product?
potential customers are divided into target groups, and info about the tastes and needs of people within a group is pinpointed.
personal factors, age brackets, interests, spending habits and where they live

Question 3

product

Answer 3

what features do people want?
what is special about the product that makes it appealing to the specific target group, such as how it functions, it status, its price, its sustainability, its new technology or its appearance?

Question 4

price

Answer 4

what price will people pay?
price is determined by what a potential customer might be willing to pay. pricing strategy consideration that cost of competing products. the cost of making and distributing the product also has to be taken into account to ensure that

Question 5

place

Answer 5

where can it be brought?
the product needs to be placed where the target market does there shopping. not all places to distribute and sell products are physical stores.

Question 6

promotion

Answer 6

how will people know about it?
promotion communicates information about the product, and alerts people that is available. this is done by targeted advertising in print and online, sponsership, in store demonstrations, product placement and entertainment