The consideration of what customer needs will be satisfied by the product they are marketing refers to the "Product" aspect of the Four Ps of marketing. The Four Ps, also known as the marketing mix, include:
Product: This involves decisions related to the actual product or service being offered, such as its features, design, quality, branding, and how it fulfills customer needs.
Price: This refers to the pricing strategy for the product or service, including setting the right price to match customer expectations and the value offered.
Place: This relates to the distribution and placement of the product, determining how and where customers can access it.
Promotion: This involves the marketing and promotional activities used to create awareness and persuade customers to choose the product or service.
So, considering what customer needs will be satisfied by the product falls under the "Product" component of the Four Ps.