The first of the four Ps marketing is the product. A product can be a tangible commodity or an intangible service that meets the needs or desires of consumers. Whether you sell pallets and wood products or provide luxury accommodation units, it is essential that you have a clear view of what your product is and what makes it unique before you can successfully market it.

Once a concrete understanding of the product offering is established, we can begin to make some pricing decisions. Pricing will affect profit margin, supply, demand, and marketing strategy. Similar (in concept) products and brands may need to be positioned differently based on different price points, while price elasticity considerations may affect our next two Ps.

We have the product and the price, now is the time to promote it. Promotion looks at a number of ways in which marketing agencies disseminate consumer information about relevant products and differentiate a particular product or service. It contains elements such as: advertising, public relations, social media marketing, email marketing, search engine marketing, video marketing and more. Each touch point must be supported by a well-placed brand to truly maximize return on investment.

You will often hear marketers say how marketing refers to putting the right product, at the right price, in the right place, at the right time. Then the most important thing is to assess what are the ideal places to turn potential customers into real customers. Today, even in situations where the actual transaction does not take place on the web, the starting point where potential customers are engaged is precisely the internet.