The product is the good or service being marketed to the target audience.Generally, successful products fill need not currently being met in the marketplace or provide, a novel customer experience that creates demand. For example, the original iPhone filled a need in the market for a simplified device that paired a phone with an iPod, and the chia pet provided a humorous experience for consumers that was utterly unique.As you are working on your product, it is essential to consider your target audience and their unique needs. Some questions to consider when working on a product include:
* What is your product?
* What does your product do? Does the product meet an unfilled need or provide a novel experience?
* Who is your product’s target audience?

2:Price

Price is the cost of a product or service.When marketing a product or service, it is important to pick a price that is simultaneously accessible to the target market and meets a business’s goals. Pricing can have a significant impact on the overall success of a product. For example, if you price your product too high for your targeted audience, then very few of them will likely purchase it. Similarly, if you price your product too low, then some might pass it up simply because they are concerned it might be of inferior quality and cut into your potential profit margins.To identify a successful price, you will want to thoroughly understand your target audience and their willingness to pay for your product. Some questions you might ask yourself as you are considering your product’s price include:
* Is the price range of your product’s competitors?
* Is the price range of your target audience?
* Price is too high for your audience? What price is too low?
* Price best fits your target market?

3:Place

Place Is Where You Sell Your Product And The Distribution Channels You Use To Get It To Your Customer.Much Like Price, Finding The Right Place To Market And Sell Your Product Is A Key Factor In Reaching Your Target Audience. If You Put Your Product In A Place That Your Target Customer Doesn’t Visit—Whether On Or Offline— Then You Will Likely Not Meet Your Sales Target. The Right Place, Meanwhile, Can Help You Connect With Your Target Audience And Set You Up For Success.For Example, Imagine You Are Selling An Athletic Shoe You Designed. Your Target Market Is Athletes In Their Early Twenties To Late Thirties, So You Decide To Market Your Product In Sports Publications And Sell It At Specialty Athletics Stores. By Focusing On Sports Stores Over Shoe Stores In General, You Are Targeting Your Efforts To A Specific Place That Best Fits Your Marketing Mix.To Decide The Best Place To Market And Sell Your Product, You Should Consider Researching The Physical Or Digital Places That Your Target Audience Shops And Consumes Information. Some Questions To Consider Include:
* Will you sell your product?
* Where does your target audience shop?
* What distribution channels are best to reach your target market?