Product
The two most common ways that products can differentiate are;
1. Consumer goods versus industrial goods, and
2. Goods products (i.e. durables and non-durables) versus service products
Price
The price is the amount a customer pays for the product. The concept of price is in contrast to the concept of value, which is the perceived utility a customer will receive from a product. Adjusting the price has a profound impact on the marketing strategy, and depending on the price elasticity of the product, often it will affect the demand and sales as well. The marketer should set a price that complements the other elements of the marketing mix
Placement
Product distribution (or placement) is the process of making a product or service accessible for use or consumption by a consumer or business user, using direct means, or using indirect means with intermediaries.
Promotion
The three basic objectives of promotion are:
1. To present product information to targeted consumers and business customers.
2. To increase demand among the target market.
3. To differentiate a product and create a brand identity