You not only need a quality product but also be able to successfully define the quality of your product to your prospective consumers and turn them into consumers. These factors may include questions such as costumers’ needs, the quality of your product, how is it different from others and what is its selling point, as well as how safe it is for your customers. If you want to sell a profitable product, then you need to do thorough planning and look at your product from customers’ eyes and consider all the essential factors in your plan. One important thing that often marketers ignore is to see the appeal of your product and market for it before deciding what you want to offer.

The product can be either a good or a service you provide to customers. Productĭmytro Tsybuliak search marketing expert, co-founder of itRate, states that product is one of the most crucial principles of marketing. You might see some variation of these four principles additionally, in the 1980s, two more principles were added to these original four principles that are used by some companies and referred to as 7Ps. These four basic marketing principles Product, Price, Place, and Promotion are interconnected and work together hence, they are also known as Marketing Mix. There are four original principles of marketing referred to as 4Ps or 4P marketing Matrix that companies use for their marketing strategy. Businesses follow these principles for a successful marketing strategy. Marketing principles are the most commonly used principles that are around since the 1960s, these principles stood the test of time and have remained the same - with a little variation here and there - for decades. These principles are used as a basic formula to evaluate and reevaluate the business, and ensure your business is reaching its full potential and growth. Marketing may not seem the same as it was before the evaluation of the digital world, but the basic principles of marketing are still the same.

Uf principles of marketing