What are the 8 P’s of Marketing?

us understand what these 8 P’s mean:

Product – The product must be able to sell itself and the unique aspects of the product that you are offering.
Price – Does the price justify the value addition of the product, discounts to offer to get customers to make the purchase, and ways to innovate on pricing
Promotion – focusing on where the customers are present (social media, events, and so on), innovating on how to promote the product to reach a wider audience.
Place – where the product is going to be seen in use, where our customers shop from, how to distribute the product, and ways to optimize the shopping experience for users.
Positioning – how you want consumers to see your product; this will help you focus on the features of your product and a strategy that takes your products to the consumers.
People – Your audience whom you want to focus on and reach.
Processes – This is your product’s journey before reaching your audience. A standardized procedure that everyone can follow.
Performance – The results of all your efforts must be measured for improvement and optimization. Having a standardized set of performance measures is important.