The 5 P's of Marketing

If you own a business, are putting together a business plan, or are considering starting a business, it will be important that you understand the 5 P's of marketing.

For years marketers referred to the 4 P's of marketing. Only recently has a 5th P (People) been added.

Regardless whether you believe in 4 p's or 5, you'll still want to have a good grip on:

1. Product
2. Price
3. Place
4. Promotion

To me, it's pretty hard to ignore "people" in this. Even if yours is a one-person business. For example, will you use customer service in marketing your products? Will you need special training to accomplish your goals?

The 5 P's of marketing make up what's referred to as your marketing mix.

The 5 P's of Marketing and Your Marketing Mix
Marketing and Sales Strategies
More on Business Plans