These P’s represent core values that make up the foundation of marketing

1. 
   What are the 5ps of marketing?
   

The 5 P’s of marketing – Product, Price, Promotion, Place, and People – are a framework that helps guide marketing strategies and keep marketers focused on the right things.
These P’s represent core values that make up the foundation of marketing and help align values within an organization. When you let the 5 P’s of marketing become the focal point of your marketing initiatives, it doesn’t matter what specific strategies you pick — you’ll still have a common goal. The 5 P’s of marketing are part of what is often referred to as a “marketing mix”. 
A marketing mix is the actions brands take to market their products and services by using a specific framework with the five biggest components of successful marketing: product, place, price, promotion, and people. These five core tenants have become the foundation for a marketing mix, and have been used in business since the 1940s. While originally “people” was left unsaid, modern marketers tend to add that into their marketing mix to create what we commonly refer to as the 5 P’s of marketing. 
1. Product
Your product is what you offer to customers. Whether it’s a physical product or a service, your offerings to consumers are the first core principle that makes up your marketing strategies. Your product includes the function, branding, appearance, warranty, quality, and even the packaging of your product or service.
2. Place
The place of marketing refers to the time at which your products reach customers and the channels you use to get them there. That includes things like your distribution channels, logistics, market coverage, and levels of service. You always want your products to get to the right people in the right place at the right time, so this element offers important benefits.
3. Price
Your pricing refers to the price of each product or the levels of pricing on services. It’s essentially your marketing strategy for making a profit, and needs to include the cost of goods, the advertised price, discounts, sales, and payments. Pricing affects how your goods are viewed by consumers, and can impact your brand reputation as affordable or high-end.
4. Promotion
Promotion refers to the ways in which you promote your products and services and how you get information about those products and services in front of your audiences. This can include many of the day-to-day elements of digital marketing, like social media, advertising, and SEO strategies.
5. PeopleBusinesses and brands don’t run by themselves.People are an essential component in how your company functions, from your internal employees to customers to partners. You need to think about the needs and functions of groups inside your organization and the needs and wants of your customer base. From internal satisfaction to customer reviews, the people are the core of your business.

2. 
   “Product Development”
   

Product development typically refers to all stages involved in bringing a product from concept or idea through market release and beyond. In other words, product development incorporates a product’s entire journey.
Standard Stages of Progress in Product Development
There are many steps to this process, and it’s not the same path for every organization, but these are the most common stages through which products typically progress:

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