MARKETING 5M


Consumer Marketing depends upon five factors.

PERSON.

PRODUCT

PROMOTION

PRICE

PLACE

To get good marketing skill you have to balance all 5 factors.

Most of the things depend on the person 

Who runs business.

Good personality helps to get customer and retain for long-term.He should have Good communication skills. Learning  the art of communication scientificly will be beneficial. 

Required personality depends upon type of business.

The person should have required strength to run business.Required strength varies with business.

PRODUCT

You have to select the product with good market potential.

You must earn the profit by selling the product.

The product must be compatible to the business place.

Price

It should be dependent on costing.

It also should be competitive in the place selected.

Consumer product pricing is very important and should be done very carefull.

Promotion. 

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