Entrepreneurship

It is a widely accepted strategic marketing tool that combines the original 4Ps with the

additional 3Ps in formulating marketing tactics for a product or service.

This P answers the question what are the basic skills needed for the job?

This P answers the question what is the most effective advertisement or combination of advertisements?

This P answers the question what is the most compelling feature of the product or the business that will make a difference in the lives of the customers?

This P answers the question what is the most appropriate value of the product or a service.

This P answers the question what product or service is the most appropriate for the

opportunity.

This P answers the question can they conveniently transact on-site or online?

In the three-level concept of products and services these are additional benefits.

• LEVEL 1: Core benefits of a product or a service

• LEVEL 2: Physical characteristic of the product or service

• LEVEL 3: Augmented benefits of the product or service

In the three-level concept of products and services these are the major factors why a customer buys a product or avails of a service.

• LEVEL 1: Core benefits of a product or a service

• LEVEL 2: Physical characteristic of the product or service

• LEVEL 3: Augmented benefits of the product or service

In the three-level concept of products and services this is the second layer of selection once the first level is satisfied.

• LEVEL 1: Core benefits of a product or a service

• LEVEL 2: Physical characteristic of the product or service

• LEVEL 3: Augmented benefits of the product or service