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Aadi Karani
Learning is key to s... • 1y
I am starting a new series where in I'll be sharing basics & advance of business & startups... Before starting up any business there are few elements which are very very important...these are known as 4P's...these 4p's decide the success & failure of the business/product...following are the 4p's & their explanation 1.Product- It is the actual item/ object which an business offers to its customer. Product could be tangible & intangible. It can be an physical product or a service 2.Price- It is the amount which a seller is willing to sell & a buyer is willing to buy the product.Price if a product plays an important role in deciding the success & demand of the oroduct.Too high prices would lead to low demand & too low prices may affect the profitability. 3.Place- Place refers to distribution.It means how the product reaches the customers.It includes logistics,distribution channels,etc 4.Promotion-It refers to how you market & sell your products.It includes sales, Advertising,PR,etc
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