This will tell you the basic of how to run your business.

Marketing Mix

These are the 4P’s (marketing mix). They are the key ideas when running a business.

Product- the product you are selling needs to be different from your rivals and good quality.

Promotion- advertise the product well so the product is hyped up and is well know.

Price-the price needs to be suitable for the target audience and needs to reflect the quality of the product.

Place- where the product is sold I vital to is success it needs to be accessible to all the people you want to sell it to.

Types of Price Promotion

Buy one get one free- as the name says you buy one you get one free.

Discount coupons- money off coupons like £5 off £50.

Buy two get one free- as the name says you buy two get one free.

Money off next purchase- get a coupon attached to the product for your next purchase.

Loyal Reward Program- you may get a card and every time you purchase an item you get a stamp and when you have so many you get one free.

Rebates- Consumers are offered money back if the receipt and barcode are mailed to the producer.

% off- where you get a percentage off the product.