Question

(If you can answer this question, please answer it. No one's been answering my questions ): )

Think about price, place, promotion, and product.

Do you see any limitations to using these methods to create a marketing plan? If so what limitations do you foresee?

Answer 1

Using The 4 P’s to determine limitations is simple. The 4 P’s create limitation as to what you can do when starting a company based on how much money you have to start with. The limitation of price comes from how much it will cost to start your business. How much will it cost financially to own the space you need. Etc. Place, when looking for a place you want to look at the demographics in order to determine if the area you would like to base your company out of would be good for the age range your product targets to, thus what is your target market? Promotion how are you going to go about promoting your product. Depending on the target market and the amount of money you have in the beginning look at what options may be best in order to get your product out there. You may be limited in where you are able to list your product due to expenses in advertising. Product, you may be limited in the way of do you have enough money in order to make the product ? Are you going to be able to profit enough through your sources of advertising (promotion) or your target market (place).
Hope this helps :)