Choosing a product that you can be successful in marketing may not be easy. If you are keen on marketing you can take into consideration the marketing mix or 5 Ps – Price, Place, Product, Promotion and People.
You need to ensure that there is a market for that product and that you can actually make a profit from selling them. Use the marketing mix or research to help you decide on a profitable product to choose. The following factors can be of some help:
Product – The products or services offered to your customer: Their physical attributes, what they do, how they differ from those of your competitors and what benefits they provide.
Price – Take into account your profit margins and the probable pricing response of competitors
Place – channel of distribution that serve as the means for getting the product to the target customers, don’t forget shipping fees.
Promotion – The methods used to communicate the features and benefits of your products or services to your target customers.
People - related to customer service. How your level of service, expertise and skills of others can be used to set you apart from your competitors.
A study of these factors can help when deciding on a product to market.
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Choosing a product that you can be successful in marketing may not be easy. If you are keen on marketing you can take into consideration the marketing mix or 5 Ps – Price, Place, Product, Promotion and People.
You need to ensure that there is a market for that product and that you can actually make a profit from selling them. Use the marketing mix or research to help you decide on a profitable product to choose. The following factors can be of some help:
Product – The
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