Positioning:
This P determines the perception of your product according to the customers. For example, Nestle
products are perceived as pure and hygienic. People trust the quality of its products and prefer them
over any other brands. The higher the positive perception, the higher price customer will be willing to
pay. Positioning of a product can be increased by providing the best quality with consistency.
People:
It is vital to pay attention to people that are responsible for the triumph of your product. People who
work for sales, marketing strategies and activities. The skills and knowledge of your team will help your
product flourish. Hence hiring the right people will assure the successful product cycle.
For the successful implementation of marketing mix, all the factors should be reassessed at every level.
Because of high competition and market fluctuations, marketing mix for a product development is
mandatory.
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