Factors a business take into account when selling a product. Summarised as the 4 Ps, which are price, product, promotion and place.
The amount of money customers have to give up to aquire a product.
A good or service produced by a business or organisation and made available to customers for consumption.
Communication between business & customer, making them aware of the product and persuading them to buy it.
The way in which a product is distributed - how it gets from the producer to the consumer.
Focusing on what the customer wants is vital to most businesses.
Businesses must understand what their customers want from a product.