The four p's of business.

Place:

Distribution is about getting the products to the customer. Some examples of distribution decisions includes:

* Distribution channels

* Market coverage

* Specific channel members

* Inventory management

* Warehousing

* Distribution centers

* Order processing

* Transportation

* Reverse logistics

The place refers to where your products and services are sold. You would want to research and find a place where your product will be successfully sold to the people in the area. You might want to find an area where you wouldn't have many competitors where you would be able to sell your product a lot easier.

Price:

Some examples of pricing decisions to be made include:

* Pricing strategy

* Suggested retail price

* Volume discounts and wholesale pricing

* Cash and early payment discounts

* Seasonal pricing

* Bundling

* Price flexibility

* Price discrimination

The price is how much it is going to cost you to produce the product. You have to think about how much the materials are going to cost, how much the workers wages will turn out to be, how much advertising will cost and also how much things like packaging will cost.

It doesn't matter how good your product is, it is still unlikely for your product to be successful unless the price is right. This does not just mean being cheaper than competitors. Most people associate a higher price with quality, so you would expect to pay more for a Rolls Royce than for a Lada.

Promotion:

Promotion represents the various aspects of marketing communication, that is, the communication of information about the product with the goal of generating a positive customer response. Marketing decisions include:

* Promotional strategy

* Advertising

* Personal selling and sales force

* Sales promotions

* Public relations & publicity

* Marketing communications budget

The main aims of promotion are to persuade, inform and make people more aware of a brand, as well as improving sales figures. Advertising is the most widely used form of promotion, and can be through the media of TV, radio, journals, cinema or outdoors (billboards, posters). The specific sections of society (market segments) being targeted will affect the types of media chosen, as will the cost. If you were a toy manufacturer, you might want an advertising spot during children's TV. If you ran a local restaurant, you might choose a local paper or radio.