By determining the answers to the 20 questions in this article, you can start discovering a tried and true approach that thousands of businesses have used successfully - the four ps of marketing.



What are the four Ps? They are product, packaging, price and promotion.

Four Ps Of Marketing: 1. Your Product Influences Your Marketing Decisions

The most important thing in your business is the product. Make a product that the customer wants and you will have a successful business. Make something they don't need and you will be out of business fast.

Your product is the most important part of your business. It partially determines your markeing and how much profit you get. Ask yourself these questions regarding your product:

1. Who is the target consumer?

2. Will this product be what the consumer wants or needs?

3. How will your product compete with other products?

4. Is this product ahead, behind or with the consumer trends and times?

5. How much does your market want this product?

6. How much volume of product will it take to meet demands?

7. When will the product be requested?

8. How much product needs to be in place at any time to meet the desire?

When you know about your product, you're ready to decide how to package it.

Four Ps Of Marketing: 2. Your Package Can Help Sell Your Products

Having the product is only the first part of the battle, now you need to sell the consumer on it, and the front lines of that battle is the packaging.

Your packaging contributes to cost. The right package can save you money in distribution and eliminate having to replace damaged products.

So give your package some thought by answering the next four questions.

9. Does the package provide any advantages over your competitors'?

10. Is your package weight and size appropriate for your product?

11. Is the product protected within the packaging?

12. Is your packaging excessive, requiring increased handling?

Now you're ready to consider pricing your product.

Four Ps Of Marketing: 3. Your Price Must Match Your Market And Product

You need to be able to price the product right for the customer. Fail in this and the customer may end up not choosing you because the price is too high and they don't think it is worth it, or it is too low and they think that means the product is cheaply made. Ask yourself these questions:

13. Is the price in line with demand?

14. How does the cost of producing each unit decrease as volume increases?

15. How much does the price decrease with volume changes?

16. At what point does volume costs and volume discounts combine to set the most profitable price?

Only after you've answered all the questions on product, package and price are you ready to consider what many small business owners consider "marketing."

Four Ps Of Marketing: 4. The Final P Is Promotion

Promoting a product is how you sell it, so it has to be done right or you won't sell one product and your business will go under.

You just have four more questions to complete your analysis of your four ps of marketing.

17. What percentage of your promotion budget should be advertising, sales, and other promotion tactics?

18. How well does your promotion mix match your business' other marketing practices?

19. Is your promotion strategy and tactics appropriate for your product's stage in the product life-cycle?

20. Is the promotion in line with what your customer's want?

Once you've answered all 20 questions, you know enough to create a marketing plan.

Four Ps Of Marketing: Conclusion

The Four Ps of Marketing build from answering the 20 questions. Answer all of them before deciding on a product, pricing it, packaging it and selling it.

Your answers establish your marketing budget, generate your marketing strategy and reveal the best marketing tactics to jump start your marketing efforts.