How do I...
...locate the price of a product?
- This is actually often much more difficult than you would expect. The reason is that prices can vary significantly from one location to the next. Aggregate prices can be found for some product types, but often times you may have to offer a range of prices, or simply suggest how the prices differ relative to competitor prices.
My company offers services instead of products. What should I do?
- You can absolutely examine a service from a 4 Ps framework. A good example is airlines. Are there specific services can you focus on for an airline (First class)? If this proves difficult, you can look more broadly at company 4P related policies (for example, how does Southwest's prices/product/etc. compare to its' major competitors) to make your analysis.
My company is a retailer. How do I pick which product to list?
- This can be tough. You can try to analyze a specific service (for example, the "Geek Squad" for Best Buy). You can also look at broader 4P policies of the company (for example, how do Wal-Mart's prices/product/etc. compare to its' major competitors).
How do I know what the best selling product is?
- This can also be difficult in some situations. Often, sales data for specific product lines or even brand lines will not be available. When this happens, try to determine what the company's primary industry is and pick the most notable product in that industry. In some cases you will have to make a judgment call. if you do, just be sure you aren't overlooking a major product/industry.