Market research and framing the business idea
1. The 4 Ps – Marketing Mix
1.1. What are the 4 Ps?
The "four Ps" describe the so-called marketing mix. The "P" stands for the English terms "product" (product or product policy), "price" (price or price policy), "place" (place or distribution policy) and "promotion" (marketing, communication policy).
Maybe you think that it should be self-evident that you need a product that has a certain price and that you sell at a certain place - and that you tell the target group about its existence so that they buy the product. True, that's actually quite logical. Nevertheless, behind each of these areas there is a whole mountain of considerations and decisions to be made. In the following, we will give you a brief overview of the individual "Ps" before we go into individual aspects in more detail.