The first lesson every MBA learns is the five P's. The five P's succinctly express the backbone the fundamentals of business. They are:
Entire MBA curriculums have been created that focus on these business basics. Optimization of the business opportunity based on the five P's has been at the heart of successful business around the world for a long time. Create a constant stream of new products. 3M has perfected this. Lower the price. Ask Wal-Mart about that. Optimize place. Make it easy for your consumer to buy. Among other companies, look at McDonald's with their golden arches on every thoroughfare. Create effective promotions and make more revenue. Everyone from General Motors to General Mills follows this principle. Put a toy in the cereal box. Show the new car with a beautiful model. Make more revenue. Create better packaging. That's what Chiquita bananas did.
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