Source: http://tengoldenrulesblog.blogspot.com/2015/10/remember-4-ps.html
Every business owner looking to enhance their marketing strategies should be knowledgeable about the P’s of marketing. What are these Ps? These are Product, Price, Place, and Promotion. These elements have always been part of traditional marketing, but they can also be applied to and provide a sturdy backbone for online businesses as well.
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1. Product – When evaluating your product, there are a series of questions that you should be able to answer for you to be able to cater to your audiences well. For instance, what are your customers looking for? What are the services you can provide to answer their needs?
2. Price – Know the fair prices for the products or services that you provide. Also remember that online prices are typically less than those of the same products sold in physical stores. You can keep prices low enough to stay competitive while still gaining profit. In addition, look into elements that can decrease prices (and thus attract more customers), such as shipping costs.
3. Place – In terms of business nowadays, location may refer to two things: the first is the physical location of a store and the second is the “place” of the website in search rankings. To address the first, make sure to list your business location on Google Maps if you have a physical store. On the other hand, make sure to apply effective SEO to get better rankings on search results and make your business more visible online.
4. Promotion – There are a number of ways to promote your products, such as banner and retargeting ads, usage of keywords and phrases, and content marketing. Always find ways for information about your business to reach your target audience.