When developing new businesses 7ps of marketing mix should be properly utilized to ensure the business is financially successful

When developing new businesses 7ps of marketing mix should be properly utilized to ensure the business is financially successful. These 7ps are:
The item that I have been chosen is one of the most recent cell phone Mi Redmi note 4 from the Xiamo organization. It has been released in 2017 January, and the item is available in three different colors including white, gold and black.
The purpose behind choosing this item since it is one of the updated modern innovation and the mobile phone contains huge of astonishing features with in a reasonable cost.
• Product: When developing a product Xiamo understands customers wants and needs, always focus on the quality of their product, as the companies can be usefully defined by their products, technologies & markets.The explanation behind picking this item is, it has a tremendous measure of battery life of 4000mah and all types of cellular and WiFi associations are accessible in it having a wide range 5 inch show. It has a fantastic execution and dependable speed which may draw in individuals.
• Price: The price extend is from £160 to £180 depending upon the capacity of the mobile phone. The price extend is decided based on the combination of cost and customer established pricing, people who are buying the redmi note 4 are not attracted in the production cost of the product instead, what they are attracted in is the value which the mi note 4 favors them. The sales of the product is still higher as it is a quality product and people are eager to pay at high cost. Hence the price for this product is seen as reasonable for the target market.
• Promotion: Promotion is made by launching the product at an event and making by advertisement of the products to encourage people thoughts. It is useful to know the value of a customer in order to determine whether additional customers are worth the cost of acquiring them. Promotion includes all of the methods of communication that a marketer may use to provide information to different parties about the product.
• People: People are the representatives in the market they ought to be legitimately prepared and all around persuaded to speak to themselves about the product and services appropriately to the clients. People are a characterizing factor in an service conveyance process, since an service is identical from the individual giving it.
• Place: Xiamo are a worldwide business organization, so presently they are having several channels to circulate its redmi note 4 mobile. The most well-known channel is through the Xiamo autorised store accessible to visit crosswise over various cities. Individuals