Price 

is the cost consumers pay for a

product. Marketers must link the price to the
product's real and perceived value, but they
also must consider supply costs, seasonal
discounts, and competitors' prices.
A product is an item that satisfies a need or a
desire. This can be a physical item, a service or
a virtual offering. It is produced at a cost and is
subsequently made available to the right audience
at a price.

Promotion in the marketing mix refers to

communication with the specific objective of
Place refers to where your product or
informing, persuading and remembering a target
service will be sold. For tangible
audience. 
products, this will include physical
locations such as your own store, or a
retailer where your product will be
resold.