The 4 P's: Product

To be successful in marketing, you have to know what the customer wants and have the right product (or service). In terms of retail, for example, successful marketers will ensure that they stock the right items. They might visit trade shows and see what is new. In the fashion world, buyers might go to fashion shows to learn what this year's styles will be. Wal-Mart strives to have the food, electronics, hardware, clothes and supplies that people want to buy.

In the online world, this is the same. The Web site must offer items that individuals want to purchase. There is no major distinction, except that a Web site can grow to have a HUGE selection of products by only adding capacity (warehouse space, shipping personnel, etc.) and not by adding expensive retail space. One primary consideration is if the product has enough unique characteristics to justify the shipping costs.  If the item is heavy or available in most states and regions, it may cost the consumer more to purchase the item online.  Click on the “Learn and Interact” icon to the right to explore more.

You can even partner with 3rd parties to help provide "product" such as Amazon's partners who are listed on their Web site, who provide the "pick and pack and ship" service, while Amazon handles marketing, credit card processing, etc. Online partnering can be a real advantage. Click here to learn more.