- The Program
The 4 P’s of Marketing Mix and how to master it in today's world (updated with example and template)
This article addresses how to use one of the oldest marketing concepts in today's online world: "The Marketing Mix," which is based on the 4 P's: Product, Price, Place and Promotion.
If you’re ready to take your marketing seriously, you’ll need to start with a marketing plan. A classic marketing concept called “The Marketing Mix” or “The 4 P’s” of Marketing is a perfect place to start.
The original concept of the 4 P's marketing mix
The original marketing mix, or 4 P's, as originally proposed by marketer and academic Jerome E. McCarthy , provides a framework for marketing decision-making. Effectively summing up the 4 pillars of the business cycle, McCarthy's marketing mix has since become one of the most enduring and widely accepted frameworks in business.
The essential base ingredients of the 4 P’s are: Product , Price , Place and Promotion . While this combination doesn’t appear to be rocket science, a company’s ability or lack thereof to embrace and implement the 4 P’s can make all the difference between thriving and failing as a business.
Each of the 4 P’s build upon and interact with one another, and are governed by both internal and external factors within the business itself, and our ever-changing marketplace. The 4 P’s of marketing primary purpose is to help us take into consideration potential roadblocks to widespread product adaptation and ongoing success.
So let’s get to them, shall we?
4 P's of marketing in simple and familiar terms:
A PRODUCT is a service or good offered to meet consumer interest or demand. It could come in the form of occupational therapy or a fidget spinner - choices are only limited to the imagination, BUT, are highly dependent on marketplace curiosity or need.
PRICE is the cost people pay for a product. This includes base costs (materials, manufacturing, and shipping) plus expenses (rent, office supplies, healthcare, etc.). While you should always look to the competition, a smart business will tap into what people will actually pay for it. That's the only thing that counts. If you can't rise above your bottom line and make your target profit, then it’s a losing proposition.
PLACE is the “home” where the product resides, and that “home” can live in many different channels, such as a physical store display, a newspaper, radio or TV ad, or a website or blog spotlight. Really, a place is anywhere you can get your product in front of your target customers that compliments your budget, including the price point.
PROMOTION is product exposure and public relations efforts via advertising (through the channels mentioned above) as well as word of mouth, direct mail, email marketing and social media. Promotion is a communication tool that encapsulates the first 3 P’s by putting the right product in the right place, at the right price, at the right time, with the goal of it being irresistible to customers.
The 4 P's example and template for a service business
The Marketing Mix of “HVAC Plumber” reflects a real life example of how a service company covers the 4 P’s (Product, Price, Place, Promotion) in their marketing strategy.
“HVAC plumber” (a fictitious company) provides heating and cooling services in the Chicago Metropolitan Area.
HVAC Plumber marketing mix elements strategy and example:
HVAC Plumber offers industry standard services, but also innovates to provide more value to our customers and captures more of the market. We are insured, licensed and provide warranties for our work. Our high quality services and focus on a pleasant customer experience helps us get repeat clients, referrals, and builds our reputation. Also, our motto is: “Leave the place cleaner than we found it” - so you’ll always see us with a broom in our hands before we leave.
At present, the following are the main categories of HVAC Plumber products:
- Furnace installation and repair
- Water heater maintenance, installation and repair
- Air conditioning installation, maintenance and repair
- Complete plumbing system design and installation
- Drain, sink and toilet unclogging and jet rodding and repairs
Our extra value added products:
- Emergency services
- Indoor air quality testing services
- Air duct and dryer vent cleaning services
- Warranty services
- Equipment sales
Our reputation and successful marketing generates more demand than we can handle, so it allows us to charge premium for our services. We train our service technicians to upsell our other services. We also have a customer loyalty program in place to reward our long-term clients with better rates and provide coupons to first time clients. We also seek partnerships with organizations such as: homeowner associations, insurance companies, builders and general contractors, and offer exclusive pricing options based on quantity.
The company has offices in downtown Chicago, but walk-in customers are unusual. We are physically represented by our company vans, uniforms and warranty stickers. We consistently attend industry trade shows, and belong to the Chicago Chamber of Commerce.
We nurture partnerships with our equipment vendors, participate in their trainings, and have certifications, which allow us to be listed “licensed technicians” on their websites. We serve the Chicagoland Area, which is about a 30 mile radius from our warehouse, but we do make travel exceptions for long-term clients and bigger projects.
Our company website is the most important communication tool, and is a place where our clients learn about our services and make initial contact. We invest a great deal of money and time to keep it updated and useful to our audience. We plan to expand our website to include ecommerce and make some of the package services, equipment and accessories available for purchase online. None of our competitors are doing this at the moment, so we’ll take advantage of being pioneers in this regard.
Most new business comes through our website and we focus all of our promotion efforts to drive more traffic to it. Our promotional mix is as follows:
- Search engine optimization
- Paid traffic
- Social media marketing
- Content marketing
- Email marketing
Our value proposition statement
HVAC Plumber is an industry-leading HVAC and plumbing service provider serving the Chicago area since 1999. We specialize in new installations, repairs, and 24 hour emergency services.
Start with 4 P's of marketing template
Check out our 4 P's of marketing template to help you work through your first few ideas.
But why stop there?
The 7 P’s of marketing mix
Since the inception of the original 4 P’s of marketing, marketing experts have expounded upon the mix to include three additional P’s to enhance brand exposure and sales performance.
These additional P’s include: People , Process and Physical evidence .
PEOPLE have always been at the epicenter of the business world. Whether it’s the company visionaries, the movers and shakers, or the daily doers, unless (or until) commerce is fully automated, you’re only as good as the people who keep the business operational and flowing. And believe you me, customers are quick to notice when there’s a glitch in the matrix.
PROCESSES ensure consistent service delivery to every customer, at any time of day, on any given day. And, a successful business incorporates scenarios where customer preferences can be accommodated to provide them a unique experience.
PHYSICAL EVIDENCE – Almost all services include physical proof of a transaction, even if the bulk of what the consumer bought isn’t tangible. It’s something the customer can hold onto and recall about working with you. Physical evidence also describes consistent branding across communication channels.
How can you actually use this?
How the 4 P’s apply in today’s online marketing
The how’s and why’s of how we approach marketing have become much more dynamic since the inception of the internet. However, the driving factor is still and should always remain: PEOPLE. Actually, it’s more about people than ever before. Having an honest marketing approach has never been more important and is both emotionally and financially rewarding if you do it right.
PRODUCT and how it lives online versus the shelf
It seems like not much has changed as far as the product or services goes, right? Wrong. No matter what type of product you offer, the landscape shifted majorly to the consumer benefit. The majority of customers now prefer to shop online, and perform in-depth research before making their buying decisions.
Besides the original, product-related marketing factors such as: product quality and design, branding, packaging, returns and guarantees, in your marketing plan, you should also consider NEW factors.
User-centric customer support - your product now has a digital voice. And it must talk to your audience and be both personalized and timely. Not only across all the common channels such as phone or email, but also should be proactively involved in social media. Resource: Social media customer service 101: the beginner's guide
New PRICING models to consider
Pricing your product or service is never an easy task. It sure helps if you can find a unique product positioning on the market, otherwise you fall into price comparison wars with your competition. And, to compare prices has never been easier than today. The original Marketing Mix suggests considering pricing strategy and tactics, discount structure, payment terms and options for both customers and distributors.
Competition pricing research - this is an in-depth review of the pricing models of your direct competitors. In comparing products, you should focus worldwide. With local services, of course, should compare within your own service area. Remember that you don’t have to anchor your pricing based on competition, but it helps to know the market.
Shipping and handling strategy - it’s not an obvious, but very important factor in online sales conversions no matter the item price. Offering free shipping is one of the most effective purchase incentives. Resource: How to offer free shipping and still make money
"9 out of 10 online shoppers consider free shipping as one of the main reasons why they shop at a particular online store. To offer free shipping is not a new thing, thanks to Amazon it became essential running an online store. The main question now is how to make it profitable. It looks impossible, but with the right approach - offering it most, not all, of the time, setting a flat shipping or order threshold, it is possible."
Diana Bukevicius - Scube Marketing
Product positioning - I know I’m repeating myself, but I have to. Positioning is strongly engraved into each pillar of The Marketing Mix. As far as pricing goes, having strong niche positioning eliminates the number of competitors that your product or service can be compared with and it opens up an opportunity to go for value pricing . Resource: Everything you need to know about pricing
Upsell strategy - this is an underestimated source of cash flow. It’s always easier to sell to the people that already bought something from you and were happy with the product. It can be an additional items or warranties, maintenance or a product upgrade.
PLACE for marketing is now on the mobile screens
Back in the 1940’s “place” was all about brick and mortar. Location, distribution, and logistics are still part of the process, but it heavily shifted from the marketing department to operations. No doubt you’ll boost sales if your product gets featured in physical Walmart stores, but you also can sell at Walmart Marketplace online with way less effort for the approval process. Same goes for Amazon. Online selling has undoubtedly taken over as the place to peddle your wares. Resource: How to sell on Walmart marketplace in 7 easy steps
Website - this is by far your most important marketing piece. It’s your 24/7 storefront and your sales rep that never sleeps. Any marketing efforts that you take will end up on your website. I mentioned 3rd party sources like Walmart Marketplace or Amazon, but I still highly recommend you focus on your own website first and use other sources as secondary. Why? Because you own it and you control it.
Any 3rd party retailer could change their policies tomorrow and you might be out of business. Plus, websites grow more powerful over time if supported by thoughtful and consistent marketing decisions. When you build your website, the decisions on design, structure and content should be made based on your promotional strategies.
3rd party platforms - Your audience is on or a few of these platforms already. Identify those platforms and utilize them. It can take the form of direct eCommerce platforms like Amazon, or it can be social channels like LinkedIn or Facebook etc.
PROMOTION is in your inbox
Search engine optimization (SEO), social media, email marketing and paid search. I hear that Super Bowl ads are worth their weight in gold, but if you can afford a Superbowl ad, you are on the wrong blog!
Jokes aside, make sure your marketing strategy is built around driving traffic to your website and converting it to leads or sales.
Traffic generation - getting targeted visitors to come to your website is the ultimate #1 goal. There are numerous ways you can achieve that, and they’re all worth considering:
Search engine optimization (SEO) - is the practice driving traffic to your website through organic search engine results by optimizing (making relevant) your website for targeted keyphrases. SEO is an ongoing process that requires patience and consistent efforts.
Paid search - in other words - “bought traffic.” Platforms like Google AdWords, Bing Ads or Facebook Ads allows you to buy highly targeted traffic in an auction-type of fashion. It’s typically based on “per click” pricing, where each visitors cost you x amount of dollars.
Social media marketing - is the process of gaining traffic or attention through social media sites. If you sell to people then it’s a great idea to invest time and effort (and sometimes money) into one or several social media sites. That’s where the people hang-out these days. Resource: Welcome to the beginner's guide to social media!
Email marketing - is the modern equivalent of oldschool direct mail, I believe. Even if one more email in our inbox is the last thing we want or need - email is still one of the best performing marketing tools. Resource: A beginner’s guide to successful email marketing Resource: A comprehensive guide to email marketing platforms
Conversion rate optimization - converting website visitors into leads is the ultimate goal #2 to achieve. Firstly, to be able to calculate conversions you need to have Google Analytics or other tracking system integrated to your website. Conversion rate optimization are an ongoing process where you optimize your website and measure the outcome looking for the optimal version of each page. Resource: Conversion optimization made simple: a step-by-step guide Resource: Learn Google Analytics with free online courses
2 extra P’s from Angle180
The team at Angle180 takes the “4 P's of marketing (Plus 3)” two steps further, to include Positioning and Positive Reviews.
Positioning - again and again. Positioning is a fundamental piece of your marketing plan and your overall business success. Essentially, if you answer all the questions related to each P you’ll arrive to your business positioning statement.
Positioning is how you differentiate your product or service from your competitors in your niche market.
A good positioning statement is the first thing people read when they visit your website. Typically, it’s a 7-10 word sentence on your Home Page that succinctly answers:
There’s a science behind positioning, and it’s wise to research how others in your field describe themselves.
Positive reviews - positive online reviews are pretty self explanatory, but I recommend creating a strategy for collecting positive reviews, as well as dealing with negative ones.
Unfortunately, it’s human nature to take positive experiences for granted and feel revengeful about the negative ones.
Reviews definitely affect local search rankings and customer buying decisions.
Local consumer review survey by BrightLocal reveals the importance of reviews:
97% of consumers read online reviews for local businesses in 2017
85% of consumers trust online reviews as much as personal recommendations
49% of consumers need at least a four-star rating before they choose to use a business
Responding to reviews is more important than ever, with 30% naming this as key when judging local businesses
4 P's of Marketing Mix in a slideshow presentation (PPT) and downloadable PDF
Here is a PDF version of 4 P's of marketing presentation.
Our conclusion? The original 4 P’s of the marketing mix withstand the test of time
There is one common trait to all classic things - they never get old or obsolete. So, even with all the changes that technology has brought us, the 80 year concept of The 4 P’s of marketing mix are still relevant and applicable today. Marketing platforms and tools have certainly changed, but the foundation is rock solid. And, let’s hope it always remains personalized and people-driven.
I'm Sarunas Budrikas, CEO of Angle180, a B2B marketing company delivering results through high performance web design and traffic generation.
You can also find me on LinkedIn and Twitter .
Get news and tips to grow your business
- Search Search Please fill out this field.
What Are the 4 Ps of Marketing?
- Understanding the 4 Ps
- These Are the 4 Ps
How To Use the 4 Ps of Marketing in Your Marketing Strategy
- 4 Ps of Marketing FAQs
The Bottom Line
- Business Essentials
The 4 Ps of Marketing and How To Use Them in Your Strategy
Product, price, place, and promotion are the four factors of the marketing mix
The four Ps are the key considerations that must be thoughtfully reviewed and wisely implemented in order to successfully market a product or service. They are product, price, place, and promotion.
The four Ps are often referred to as the marketing mix . They encompass a range of factors that are considered when marketing a product, including what consumers want, how the product or service meets or fails to meet those wants, how the product or service is perceived in the world, how it stands out from the competition, and how the company that produces it interacts with its customers.
Since the four Ps were introduced in the 1950s, more Ps have been identified, including people, process, and physical evidence.
- The four Ps are the four essential factors involved in marketing a product or service to the public.
- The four Ps are product, price, place, and promotion.
- The concept of the four Ps has been around since the 1950s. As the marketing industry has evolved, other Ps have been identified: people, process, and physical evidence.
Investopedia / Julie Bang
Understanding the 4 Ps of Marketing
Neil Borden, an advertising professor at Harvard, popularized the idea of the marketing mix—and the concepts that would later be known primarily as the four Ps—in the 1950s. His 1964 article "The Concept of the Marketing Mix" demonstrated the ways that companies could use advertising tactics to engage their consumers.
Decades later, the concepts that Borden popularized are still being used by companies to advertise their goods and services.
Borden's ideas were developed and refined over a number of years by other key players in the industry. E. Jerome McCarthy, a marketing professor at Michigan State University, refined the concepts in Borden's article and named them the "four Ps" of marketing. McCarthy co-wrote the book Basic Marketing: A Managerial Approach , further popularizing the idea.
At the time the concept was introduced, it helped companies breach the physical barriers that could hamper widespread product adoption. Today, the Internet has helped businesses to overcome some of these barriers.
People, process, and physical evidence are extensions of the original Four Ps and are relevant to current trends in marketing.
Any successful marketing strategy should be revisited from time to time. The marketing mix you create is not intended to be static. It needs to be adjusted and refined as your product grows and your customer base changes.
These Are the 4 Ps of Marketing
Creating a marketing campaign starts with an understanding of the product itself. Who needs it, and why? What does it do that no competitor's product can do? Perhaps it's a new thing altogether and is so compelling in its design or function that consumers will have to have it when they see it.
The job of the marketer is to define the product and its qualities and introduce it to the consumer.
Defining the product also is key to its distribution. Marketers need to understand the life cycle of a product , and business executives need to have a plan for dealing with products at every stage of the life cycle.
The type of product also dictates in part how much it will cost, where it should be placed, and how it should be promoted.
Many of the most successful products have been the first in their category. For example, Apple was the first to create a touchscreen smartphone that could play music, browse the internet, and make phone calls. Apple reported total sales of the iPhone for FY 2022 at $205.4 billion. In 2021, it hit the milestone of 2 billion iPhones sold.
Price is the amount that consumers will be willing to pay for a product. Marketers must link the price to the product's real and perceived value, while also considering supply costs, seasonal discounts, competitors' prices, and retail markup.
In some cases, business decision-makers may raise the price of a product to give it the appearance of luxury or exclusivity. Or, they may lower the price so more consumers will try it.
Marketers also need to determine when and if discounting is appropriate. A discount can draw in more customers, but it can also give the impression that the product is less desirable than it was.
UNIQLO, headquartered in Japan, is a global manufacturer of casual wear. Like its competitors Gap and Zara, UNIQLO creates low-priced, fashion-forward garments for younger buyers.
What makes UNIQLO unique is that its products are innovative and high-quality. It accomplishes this by purchasing fabric in large volumes, continually seeking the highest-quality and lowest-cost materials in the world. The company also directly negotiates with its manufacturers and has built strategic partnerships with innovative Japanese manufacturers.
UNIQLO also outsources its production to partner factories. That gives it the flexibility to change production partners as its needs change.
Finally, the company employs a team of skilled textile artisans that it sends to its partner factories all over the world for quality control. Production managers visit factories once a week to resolve quality problems.
Place is the consideration of where the product should be available—in brick-and-mortar stores and online—and how it will be displayed.
The decision is key: The makers of a luxury cosmetic product would want to be displayed in Sephora and Neiman Marcus, not in Walmart or Family Dollar. The goal of business executives is always to get their products in front of the consumers who are the most likely to buy them.
That means placing a product only in certain stores and getting it displayed to the best advantage.
The term placement also refers to advertising the product in the right media to get the attention of target consumers.
For example, the 1995 movie GoldenEye was the 17th installment in the James Bond movie franchise and the first that did not feature an Aston Martin car. Instead, Bond actor Pierce Brosnan got into a BMW Z3. Although the Z3 was not released until months after the film had left theaters, BMW received 9,000 orders for the car the month after the movie opened.
The goal of promotion is to communicate to consumers that they need this product and that it is priced appropriately. Promotion encompasses advertising, public relations, and the overall media strategy for introducing a product.
Marketers tend to tie together promotion and placement elements to reach their core audiences. For example, In the digital age, the "place" and "promotion" factors are as much online as offline. Specifically, where a product appears on a company's web page or social media, as well as which types of search functions will trigger targeted ads for the product.
The Swedish vodka brand Absolut sold only 10,000 cases of its vodka in 1980. By 2000, the company had sold 4.5 million cases, thanks in part to its iconic advertising campaign. The images in the campaign featured the brand's signature bottle styled as a range of surreal images: a bottle with a halo, a bottle made of stone, or a bottle in the shape of the trees standing on a ski slope. To date, the Absolut campaign is one of the longest-running continuous campaigns of all time, from 1981 to 2005.
The four Ps provide a framework on which to build your marketing strategy. Think through each factor. And don't worry when the factors overlap. That's inevitable.
First, analyze the product you will be marketing. What are the characteristics that make it appealing? Consider similar products that are already on the market. Your product may be tougher, easier to use, more attractive, or longer-lasting. Its ingredients might be environmentally friendly or naturally sourced. Identify the qualities that will make it appealing to your target consumers.
Think through the appropriate price for the product. It's not simply the cost of production plus a profit margin. You may be positioning it as a premium or luxury product or as a bare-bones, lower-priced alternative.
Placement involves identifying the type of store, online and off, that stocks products like yours for consumers like yours.
Promotion can only be considered in the context of your target consumer. The product might be appealing to a hip younger crowd or to upscale professionals or to bargain hunters. Your media strategy needs to reach the right audience with the right message.
Product, price, promotion, and place form the four Ps of the marketing mix. These are the key factors that are involved in introducing a product or service to the public.
When Did the 4 Ps Become the 7 Ps?
The focus on the four Ps—product, price, place, and promotion—has been a core tenet of marketing since the 1950s. Three newer Ps expand the marketing mix for the 21st century.
- People places the focus on the personalities who represent the product. In the current era, that means not only sales and customer service employees but social media influencers and viral media campaigns.
- Process is logistics. Consumers increasingly demand fast and efficient delivery of the things they want, when they want them.
- Physical evidence is perhaps the most thoroughly modern of the seven Ps. If you're selling diamond jewelry on a website, it must be immediately clear to the consumer that you are a legitimate established business that will deliver as promised. A professionally designed website with excellent functionality, an "About" section that lists the principals of the company and its physical address, professional packaging, and efficient delivery service are all critical to convincing the consumer that your product is not only good, it's real.
What Are Some Examples of the 4 Ps of Marketing?
- Place refers to where consumers buy your product, or where they discover it. Today's consumers may learn about products and buy them online, through a smartphone app, at retail locations, or through a sales professional.
- Price refers to the cost of the product or service. Properly determining product price includes an analysis of the competition, the demand, production costs, and what consumers are willing to spend. Various pricing models may be considering, such as choosing between one-time purchase and subscription models.
- The product a company provides depends on the type of company and what they do best. For example, McDonald's provides consistent fast food in a casual setting. They may expand their offerings, but they wouldn't stray far from their core identity.
- Promotion refers to specific and thoughtful advertising that reaches the target market for the product. A company might use an Instagram campaign, a public relations campaign, advertising placement, an email campaign , or some combination of all of these to reach the right audience in the right place.
How Do You Use the 4 Ps of Marketing?
The model of the 4Ps can be used when you are planning a new product launch, evaluating an existing product, or trying to optimize the sales of an existing product.
A careful analysis of these four factors—product, price, place, and promotion—helps a marketing professional devise a strategy that successfully introduces or reintroduces a product to the public.
The four Ps of marketing—product, price, place, promotion—are often referred to as the marketing mix. These are the key elements involved in planning and marketing a product or service, and they interact significantly with each other. Considering all of these elements is one way to approach a holistic marketing strategy .
Neil Borden. " The Concept of the Marketing Mix ."
E. Jerome McCarthy. "Basic Marketing: A Managerial Approach." Richard D. Irwin, Inc., 1960.
Apple. " Condensed Consolidated Statements of Operations (Unaudited) Q4 2022 ," Page 1.
Apple Insider. " At 2 Billion iPhones Sold, Apple Continues to Redefine What Customers Want ."
Harvard Business School: Technology and Operations Management. " UNIQLO: What’s Behind the Low-Cost High-Quality Casual Wear? "
Smart Insights. " Campaign of the Week: The Longest Running Print Ad Marketing Campaign in History ."
- Terms of Service
- Editorial Policy
- Your Privacy Choices
By clicking “Accept All Cookies”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.
- Online Degree Explore Bachelor’s & Master’s degrees
- MasterTrack™ Earn credit towards a Master’s degree
- University Certificates Advance your career with graduate-level learning
- Top Courses
- Join for Free
The 4 Ps of Marketing: What They Are and How to Use Them
Learn what the 4 Ps are and how they can help you in your next marketing endeavor.
The four Ps are a “marketing mix” comprised of four key elements—product, price, place, and promotion—used when marketing a product or service. Typically, successful marketers and businesses consider the four Ps when creating marketing plans and strategies to effectively market to their target audience.
Although there are many other “marketing mixes,” the four Ps are the most common and foundational to creating a successful marketing strategy . In this article, you will learn more about their purpose, history and find a detailed breakdown of the four Ps.
What are the 4Ps of marketing? (Marketing mix explained)
The four Ps are product, price, place, and promotion. They are an example of a “marketing mix,” or the combined tools and methodologies used by marketers to achieve their marketing objectives.
The 4 Ps were first formally conceptualized in 1960 by E. Jerome McCarthy in the highly influential text, Basic Marketing, A Managerial Approach [ 1 ]. There, McCarthy noted that while the text of the book was “similar to that found in the traditional texts, the approach is not.”
McCarthy’s novel approach was influenced by the still-recent “marketing mix” concept, which Harvard Business School professor Neil. H. Borden popularized in the 1950s. In fact, Borden himself had been influenced by a 1948 study written by James Culliton, in which the author equated business executives to “artists” or “mixer[s] of ingredients” [ 2 ]. Rather than using the same approach for every situation, then, Culliton and Borden recognized that successful executives instead mixed different methods depending on variable market forces.
McCarthy streamlined this concept into the four Ps—product, place, price, and promotion—to help marketers design plans that fit the dynamic social and political realities of their time and target market . In effect, the purpose of the four Ps remains the same today as when McCarthy first published his book: “developing the ‘right’ product and making it available at the ‘right’ place with the ‘right’ promotion and at the ‘right’ price, to satisfy target consumers and still meet the objectives of the business” [ 3 ].
The four Ps
The four Ps form a dynamic relationship with one another. Rather than one taking priority over the other, each is considered equally important in crafting a strategic marketing plan.
The product is the good or service being marketed to the target audience.
Generally, successful products fill a need not currently being met in the marketplace or provide a novel customer experience that creates demand. For example, the original iPhone filled a need in the market for a simplified device that paired a phone with an iPod, and the chia pet provided a humorous experience for consumers that was utterly unique.
As you are working on your product, it is essential to consider potential customers in your target audience and their unique needs. Some questions to consider when working on a product include:
What is your product?
What does your product do? Does the product meet an unfilled need or provide a novel experience?
Who is your product’s target audience?
How is your product different from what others offer?
Read more: Competitive Product: Definition + How to Analyze One
Price is the cost of a product or service.
When marketing a product or service, it is important to pick a price that is simultaneously accessible to the target market and meets business goals. Different pricing models can have a significant impact on the overall success of a product. For example, if you price your product too high for your targeted audience, then very few of them will likely purchase it. Similarly, if you price your product too low, then some might pass it up simply because they are concerned it might be of inferior quality and cut into your potential profit margins.
To identify a successful price, you will want to thoroughly understand your target audience and their willingness to pay for your product. Some questions you might ask yourself as you are considering your product’s price include:
What is the price range of your product’s competitors?
What is the price range of your target audience?
What price is too high for your audience? What price is too low?
What price best fits your target market?
Read more: What Is a Pricing Strategy? + How To Chose One for Your Business
Place is where you sell your product and the distribution channels you use to get it to your customer.
Much like price, finding the right place to market and sell your product is a key factor in reaching your target audience. If you put your product in a place that your target customer doesn’t visit—whether on or offline— then you will likely not meet your sales target. The right place, meanwhile, can help you connect with your target audience and set you up for success.
For example, imagine you are selling an athletic shoe you designed. Your target market is athletes in their early twenties to late thirties, so you decide to market your product in sports publications and sell it at specialty athletics stores. By focusing on sports stores over shoe stores in general, you are targeting your efforts to a specific place that best fits your marketing mix.
To decide the best place to market and sell your product, you should consider researching the physical places or digital channels that your target audience shops and consumes information. Some questions to consider include:
Where will you sell your product?
Where does your target audience shop?
What distribution channels are best to reach your target market?
Read more: What Is a Marketing Channel? 6 Types to Prioritize in 2023
Promotion is how you advertise your product or service. Through promotional activities, you will get the word out about your product with an effective marketing campaign that resonates with your target audience.
There are many different ways to promote your product. Some traditional methods include word of mouth, print advertisements, and television commercials. In the digital age, though, you can create online marketing campaigns to promote your product, using such channels as content marketing , email marketing , display ads , and social media marketing .
Some questions to consider as you are working on your product promotion include:
What is the best time to reach your target audience?
What marketing channels are most effective for your target audience?
What marketing messages would most resonate with your target audience?
What advertising approaches are most persuasive to your target audience?
Other marketing mixes
The four Ps aren’t the only marketing mix used today. Some other modern marketing mixes include the five Ps, the seven Ps, and the 5 Cs. Although each of these reflects certain aspects of the four Ps, they also each possess some unique elements that alter their emphasis on the marketing process.
The five Ps
The five Ps are product, price, place, promotion, and people .
Today, many marketers use the five Ps over the four Ps because it centers the experiences of customers and staff in the marketing process. Typical considerations include how a customer behaves, their experience with the product, and their overall satisfaction with the business.
The seven Ps
The seven Ps are product, price, place, promotion, people, processes , and physical evidence .
The seven Ps are a further elaboration of the five Ps, adding considerations of the processes that define the customer experience and the physical evidence that the target market needs to see to become customers. While processes might involve the specific customer service processes that define a product, physical evidence can be websites or store displays that help the target market imagine themselves using the product.
The five Cs
The five Cs are customer, company, competition, collaborators, and climate.
In some respects, the five Cs reflect many of the same concerns of the four and five Ps, but with added emphasis on external factors, such as possible outside collaborations and competitive research.
Furthermore, while “climate” refers to the social, political, and economic context surrounding the market, “customer” refers to the target market and customer experience. “Company,” meanwhile, refers to the place of the company and their available resources in the marketing process.
How to use the 4 Ps of marketing
Now that you know the 4Ps and other marketing mixes, here is a quick refresher on your main objectives for your marketing strategy:
Communicate the benefits that the product offers potential customers.
Demonstrate how the product's value matches the price.
Place the product where your target audience is most likely to encounter it.
Promote the product in ways that resonate with your target audience.
Build your marketing skills on Coursera
Develop or strengthen your marketing skills with any of these top-rated products on Coursera:
Want to keep learning about the 4 Ps? Define your Ps with Marketing Mix Implementation from IE Business School, which covers brand and product management, pricing strategy, and more.
Just getting started in marketing? Build the skills you need for an entry-level role with the Meta Social Media Marketing or Marketing Analytics Professional Certificates on Coursera.
Ready to take on the world of digital marketing? Learn internet marketing strategies in less than six months with the Google Digital Marketing & E-commerce Professional Certificate .
Frequently asked questions (FAQ)
What is the most important out of the 4 ps .
All of the 4 Ps—product, price, place, and promotion—are important components of your marketing strategy. They work most effectively when marketers use them in conjunction with one another. You may find yourself focusing on one or another at different phases of business development. For example, you might focus on product and price at earlier stages, while place and promotion might become priorities at a later stage when you’re preparing to introduce the product to the market.
Are the 4 Ps of marketing still useful?
Although the 4 Ps of marketing has been around since the 1960s, the concept is still considered useful, even as marketing rapidly evolves and becomes increasingly digitized. You can think of the 4 Ps as comprising the foundation to developing effective marketing strategies. At the same time, it’s a good idea to use some of the other models—the 5 Ps (product, price, place, promotion, and people) or the 5 Cs (customer, company, competition, collaborators, and climate)—to build a more thorough approach to marketing.
Oxford Reference. “ E Jerome McCarthy , https://www.oxfordreference.com/view/10.1093/oi/authority.20110803100143321.” Accessed July 10, 2023.
Guillaum Nicaise. “ The Concept of the Marketing Mix , http://www.guillaumenicaise.com/wp-content/uploads/2013/10/Borden-1984_The-concept-of-marketing-mix.pdf.” Accessed July 10, 2023.
HathiTrust. “ Basic Marketing: a managerial approach , https://babel.hathitrust.org/cgi/pt?id=inu.30000041584743&view=1up&seq=1.” Accessed July 10, 2023.
Coursera’s editorial team is comprised of highly experienced professional editors, writers, and fact...
This content has been made available for informational purposes only. Learners are advised to conduct additional research to ensure that courses and other credentials pursued meet their personal, professional, and financial goals.
Take $100 off your annual subscription
- For a limited time, you can get a new Coursera Plus annual subscription for $100 off for your first year!
- Get unlimited access to 7,000+ learning programs from world-class universities and companies like Google, Microsoft, and Yale.
- Build the skills you need to succeed, anytime you need them—whether you're starting your first job, switching to a new career, or advancing in your current role.
The 4 P’s of Marketing + Marketing Mix Examples
The 4 P’s are a concept from the business world that helps you define your business offerings and create the best individualized marketing strategy possible.
What are the 4 P’s of Marketing?
The 4 P‘s stands for:
All aspects of marketing can be categorized under one of these 4 terms. According to conventional marketing wisdom, optimizing each of these 4 categories is a successful strategy for marketing.
Marketing Mix Definition
Because each of t he 4 P’s are supposed to work together like ingredients in a recipe, the 4 P’s are also called The Marketing Mix.
What is the marketing mix? Just your business’s unique blend of the 4 P’s to create your own custom recipe for marketing success.
History of the 4 P’s
The term “marketing mix” came first, when Harvard professor James Culliton used the recipe metaphor to describe the components of marketing in a 1948 paper. The book The Concept of the Marketing Mix further refined the idea and by 1960 the elements had been reduced to the 4 P’s we know today.
This concept has proved remarkably useful through the decades, even as businesses move increasingly online.
The First P of Marketing: Product + Example
Defining your product is the first step in determining your unique marketing mix. What do you sell or provide to the customer?
This can be a physical product like cars or hair accessories; a service like business consulting, or even a digital product like a membership to an online forum.
The marketing mix 4P approach suggests that you clarify your product as much as possible by defining the following attributes:
- Who is my target customer?
- What are they searching for?
- How does my product meet their needs?
- What makes my product distinctive?
- What makes my product stand out from competitors?
- What are my product’s features?
- What are my product’s benefits?
This will help you craft the most appealing description of your product and drive more consumer interest and sales.
4 P’s of Marketing Example: Product
Let’s take a barbershop that caters to families with young children. Their product is - obviously - haircuts.
Applying the 4 Ps, the barbershop might describe its product this way:
“ We know your kids may be nervous about a new haircut. We offer a fun, no-pressure shop where your kids can watch their favorite cartoons from our custom-painted chairs. Our trained stylists can give your little ones the latest style or just a trim quickly and easily. It’s so much fun, your kids will want to come back every week!”
In this example, the barbershop is offering a very ordinary product -haircuts. But they know that their target customers are parents who are worried about their children not sitting still for haircuts. Therefore, they position their product as unique - a “fun” haircut.
The Second P of Marketing: Price + Example
Much ink has been spilled determining the pricing sweet spot for any given product. The marketing mix strategy acknowledges that different businesses will use different pricing strategies.
- Premium pricing - especially for “luxury” or “premium” brands
- Undercutting competitors
- Offering a loyalty program
- Offering purchase points redeemable for rewards
- Free shipping
- Bonus offers/free gift with purchase
- Entry-level pricing
- Accepting credit or pay-later systems
4 P’s of Marketing Example: Pricing
Google now offers a range of smartphones that are positioned to compete with the iPhone.
We can see that Google is using several pricing strategies here to promote the Pixel:
- Trade-in old phone for purchase credit
- Free shipping
- Added products (phone protection; Google One storage)
As part of the 4ps, Google is choosing pricing strategies that will appeal the most to its customers: those who want a good phone but still want a deal and those who want easy integration with their existing Google products.
The Third P of Marketing: Place + Example
Since a big part of the marketing mix definition is place, it’s not a relevant concept in the digital age, right? Not quite.
Keep in mind that some businesses will always be local: you can’t hire a remote plumber, for example.
Furthermore, around 70% of Americans say that shopping locally is important to them. So actual geographic location is still quite important.
That said, over 80% of consumers worldwide shopped online. Unquestionably, customers are online. But located exactly where online will be a key to deciding where to place your product’s promotion.
The Third P of marketing refers more to where your product is marketed than your actual physical location. This means finding where your customers spend time online and placing your product there.
Do your target customers frequent any of the following sites:
Determining this will rely primarily upon your demographic research, but competitor research can help too.
Are your competitors placing their products on Facebook? Have they ignored Instagram because your audience doesn’t spend time there, or is this an opportunity for you to locate your product near customers but away from competition?
4 P’s of Marketing Example: Place
Popular skincare brand Curology uses the marketing mix to reach its target customer on social media. The company’s headquarters is in San Francisco, but that is irrelevant to the “place” component 4P.
Curology sells customized skincare 100% online, so it places its promotions where customers are - social media.
Take a look at the promoted ad from Facebook below:
This ad uses the marketing mix concept well because it summarizes the product by highlighting a few of its key benefits - it's customizable, and it’s delivered to you (which means convenient).
The ad is placed on a site that people check almost reflexively, so they are likely to see the ad and follow it for more information on the brand.
Next, we’ll turn to the final element of the marketing mix definition: promotion .
The Fourth P of Marketing: Promotion + Example
The 4Ps wouldn’t be complete without promotion. This refers to how you reach your customers and what strategies you use to incentive purchases.
This may include some of the following tools and types of digital marketing :
- Search engine marketing
- Direct emails
- Targeted ads
- Content marketing
- Word of mouth
- Influencer marketing
- Direct Mail
Anything that gets your product in front of your target audience is part of your marketing strategy.
Now, many new businesses are inclined to go for all the promotion strategies.
As any seasoned marketer can tell you, this is a waste of time and effort. It’s better to research which strategies work best for your product and audience and build quality promotions.
Remember, The 4 Ps of marketing maintain that each business has its own unique recipe. Just because billboard advertising works great for the auto repair shop down the street doesn’t mean it will work for your marketing consulting firm.
4 P’s of Marketing Example: Promotion
Email marketing is an effective strategy, with studies showing it has some of the highest return on investment of all digital marketing strategies.
Here is how an online vitamin company, Puritan’s Pride, used email marketing over a holiday weekend sale:
In this image, you can see how the company is using price to incentivize a sale in the form of 75% off.
The promotion comes as an email. These are quickly skimmed, so this promotion is visual and easy to scan, relying on images rather than text to get its message across quickly before the potential customer moves on to a different email.
Do You Know the 4Ps of Your Business?
Does your business have a well-defined marketing mix? Here are some ways you can tell:
- Your marketing goals are clearly defined
- You have a strong brand voice
- You know what percentage of business occurs in-person and online
- You know what online channels your customers frequent
- You are clear about your product(s) benefits
- You’ve invested in market and competitor research
- You have chosen your distribution channels
- You have a clear pricing strategy
If your business is fuzzy on some of these basics, you probably need to revisit your unique marketing mix.
How to Apply the 4Ps in Your Own Business
So - what is the marketing mix you should be using?
Your marketing mix may be different for any given product or phase of your business growth. Ideally, you will be determining your mix before you even finish developing your first product.
This is because you want to make sure you are actually offering something customers need.
Step 1: Research: Customers, Competition, and Market
- What products or services are people looking for?
- Is there dissatisfaction with the current offerings?
- How can you offer something distinctive?
- What is your competition doing well and poorly?
Step 2: Determine your Pricing Strategy
- Will you position your product as a luxury/premium offering?
- Will you undercut existing prices?
- Do you plan to offer customer loyalty incentives?
- Do you plan to offer free services or loss leaders?
- Do you anticipate raising prices over time?
Step 3: Placement
- What are your primary distribution channels?
- Online, in-person, or hybrid purchase offers?
- Will you need a physical location for promotion?
- Do you plan to work through wholesalers and retailers?
- What online channels will you place your ads on?
Step 4: Determine Promotional Strategies
- What is your promotional budget?
- Do you have a digital promotion strategy?
- What promotions are most effective with your target audience?
These are a lot of questions to ask. The more time and thought you can invest in the front-end of developing a new product, the more specific you can be about your approach to business.
Ultimately, this means you can more effectively track the success of your chosen strategy and determine what is and is not working.
Case Study: The 4Ps of SEOptimer.com
Since we are a marketing company, after all, let’s use the SEOptimer website as an example of the 4 P’s at work.
4 P’s of Marketing: Product
SEOptimer offers numerous tools to make online marketing easier. One of our key products is the SEO Audit and Reporting Tool.
The headline of this page immediately tells visitors what they will get: a free, comprehensive SEO audit of their URL. When visitors scroll down, they learn the features and benefits of this product.
Search Engines rely on many factors to rank a website. SEOptimer is a Website SEO Checker which reviews these and more to help identify problems that could be holding your site back from its potential.
Additionally, we provide a clear, actionable, prioritized list of recommendations to help improve.
This further defines the value of the product for potential customers and increases their chances of trying it out.
4 P’s of Marketing: Price
SEOptimer offers the free SEO audit tool (and lots of other SEO tools), as part of a “freemium” strategy. This means that our tools are freely available, but advanced features require a paid subscription.
This is a pricing strategy. We also offer paid SEO consulting services. Customers use our free tools, which builds their confidence in us as digital marketing experts. If they need professional services, they are then more likely to turn to our company.
4 P’s of Marketing: Place
Since our products are digital, they are accessible from anywhere in the world. For a company like ours with a global reach, “place” is more about reaching customers digitally.
Maintaining a strong presence on multiple social channels is one way we do this. Another is by focusing on our SEO strategy, which reaches costumes across the world, rather than in one limited geographic location.
4 P’s of Marketing: Promotion
While SEOptimer uses multiple promotional strategies, one good example is our organic search strategy.
Not only do we provide free and paid SEO tools, but we also offer valuable guides, articles, and how-tos to our customers.
This content is indexed by Google and other search engines, making it more likely that potential customers will find our content, read it, and then engage with our brand.
The 4P’S - Find Your Custom Marketing Recipe
The 4 P’s of marketing have successfully guided marketers for over 6 decades. Far from being obsolete, combining these 4 elements is a tried-and-true method of defining your business’s overall goals and strategy.
Try this exercise today: see if you can clearly define the 4 P’s for any given product in your company:
If you’re clear on these 4 elements, then chances are you have the marketing mix for your business mastered.
SEOptimer's CEO and venerable leader. Adam has a wealth of experience across Digital Marketing, SEO and software, and enjoys sharing his learnings from growing SEOptimer to an audience of over 100,000 monthly users.
SEO Audit & Reporting Tool. Improve Your Website. Win More Customers. Get a Free Website Audit Instantly
Recent articles, related articles.
SEOptimer - SEO Audit & Reporting Tool. Improve Your Website. Win More Customers. Get a Free Website Audit Instantly
The Only Course You'll Need To Understand Marketing Like Never Before
How to Get Started with Marketing and Design Your Career in 5 Steps
4Ps of Marketing (Marketing Mix with Examples) The 4Ps of Marketing or the Marketing Mix is one of the most basic concepts taught in Marketing. At the same time, it makes up for an extremely large part of a successful marketing plan. The fact is, the 4Ps of Marketing are really important because they, together, form the marketing strategy of your company. Let me tell you more about it.
Marketing mix - the 4Ps of marketing can never be overestimated when it comes to determining the success or failure of a marketing campaign.
In this article, I will explain to you what is marketing mix and also each of the 4Ps of marketing mix. Not just that, I will share with you four examples of how each of these elements of marketing mix makes a lot of difference in marketing.
Before that, let’s ponder over something basic. And also let me tell you what all I will be covering in this detailed article on the 4Ps of Marketing.
Let me begin by telling you, what exactly is Marketing Mix all about?
What is Marketing Mix?
Marketing Mix is ideally a brilliantly coordinated combination of Product, Price, Place and Promotion strategies.
I wrote about marketing it in detail in my blog post titled ‘But really, what is Marketing?’. In simple terms, you could say marketing is about “ putting the right product in the right place, at the right price, at the right time”.
That is what it really is.
That one statement defines everything, from what is marketing to what is marketing mix to how to create and deliver an amazing marketing campaign.
Source: thefinancialbrand . com
If you’re in marketing, you have some basic ingredients that you would use to create some magic out of your marketing plan, these ingredients are called the 4Ps of Marketing or the Marketing Mix.
What is Marketing Mix? Marketing Mix is a set of elements, the 4Ps, that are the four decision-making areas in Marketing . Again, getting any of these elements wrong may destroy the rest of the factors you got right.
This is true because, the 4Ps factors are interdependent and rely on one another for an effective strategy. And if you begin to think, any marketing decision that you take essentially lies in any one of these areas.
4Ps of Marketing and all other basic marketing concepts!
Get access to the expert curated Marketing Flashbook that would give you a quick revision of all the basic concepts of Marketing that you should know for interviews , placements or just for class preparation
What is the purpose of the 4Ps of Marketing Mix?
Its purpose is to ensure the creation and execution of a successful marketing strategy ; the attempt is to satisfy both the customer and the seller. You will often come across your managers telling you to create marketing plans.
And this is what a marketing plan predominantly covers. The purpose is to ensure that every marketing initiative that you take is brilliantly coordinated with each other.
Marketing incorporates all these physical and non-physical, real and perceptual attributes into four elements of the marketing mix.
The 4Ps is basically about asking relevant questions that will help you to define your marketing mix.
Let me explain to you each of the elements of the Marketing mix , or the 4Ps of Marketing here. Stay tuned for the later part of the article where I will share with you the examples for each of the 4Ps.
First, it is important to understand the problems your product is trying to solve, because without it, you don’t have a place in the market, and you certainly can’t sell or advertise something that doesn’t exist or doesn’t have any demand.
The key to get this element of the marketing mix correct is by writing down a product definition .
This should include what is your product , what is your target market and most importantly why is your product different from the alternatives out there.
A product can be a physical object, an intangible service, an idea, a campaign or even a personality.
Also, the Unique Selling Proposition of the product must be determined as well as the potential buyers of the product.
There are questions you need to ask when you want to determine the kind of product you should have. They include:
- What problems can this product solve for customers?
- What features are included in the products to meet this need?
- What will differentiate it from the competitor’s own if any?
- How is it supposed to be used by the customer?
Let me know take you through the second P of the 4Ps of marketing - which is Price .
The price of a product should reflect its value to the customer. This also entails the relative price versus quality level that the product maintains against the competitors.
The marketer’s challenge is to come up with a price that is attractive to consumers while still turning an acceptable profit for the company.
The price of a product will directly affect how it sells . This must be determined by what value the customers attach to the product rather than the objective cost of the product.
If the product is priced higher or lower than its perceived value, then it will be difficult to make sales. Simply put, the value of the product in the eyes of the consumer determines the price.
I have written a series of articles on how to price a product and those articles shall help you with this particular element of the 4Ps of the Marketing mix . Here are some of those posts:
- How to Price your Product – The Fundamentals
- How to Price your Product better in 8 Steps (Part 1 of 2)
- How to Price your Product better in 8 Steps (Part 2 of 2)
Hence, if the value is low or negative , the product may need to be under priced to make sales.
The questions to ask here are:
- What is the perceived value of the product to the buyer?
- What is the market fixed price for this kind of product?
- How much is your price when compared with the competitor’s?
Moving on to the third element of the marketing mix and the 4Ps of Marketing - the Place .
There is a way how the product will be provided to the customer , this is the “Place” factor. Once the place has been decided, the marketing channel to reach the customer is chosen.
The place refers to where the product is to be sold (distribution) .
In the past, this meant how visible your product was in the physical marketplace. In today’s modern world: where your product appears on the Internet is even more important because your reach online can be global whilst as your reach in the physical marketplace is limited by physical space.
You can determine this by answering questions like:
- Where is the first place buyers check when looking for your kind of product. Is it a store, or a boutique, or maybe they check a catalogue?
- How can you determine the best distribution channels?
- Do you need to take a multi-channel approach? If yes, then which channels?
And finally, let me tell you about the 4th element of the marketing mix - Promotion .
Promotion refers to the marketing communication methods used to inform, persuade, and remind the target market of the product or services , basically any interaction that your company has with the consumer regarding your product.
This may include advertising, sales, promotions, special offers, and public relations. Promotion is quite different from marketing, because promotion is the communication aspect of the entire marketing function.
The marketing mix is a crucial tool to help understand what the product or service can offer and how to plan for a successful product offering.
- What are the promotion methods of your competitors?
- Which digital channels does your target market use often?
- What is the return-on-investment from each of the promotion channels?
After a brief explanation of the Marketing Mix and the 4Ps of Marketing , I am going to talk about them in a more direct and practical way. I explain elements of marketing mix with examples to show you how simple (and impact driven) the Marketing Mix can be.
Marketing Concepts Mastery Course
Learn the essential marketing concepts. Create the best outcomes from MBA without depending on placements!
Understand the 4Ps and 7Ps of Marketing, Segmentation, Targeting, Positioning, SWOT Analysis and many other important marketing frameworks just like an expert MBA professional would. Solidify your concepts while building a personal brand in marketing
4Ps of Marketing - Video Explanation
Here is a decent video that I found on the 4Ps of Marketing. Purely Branded, explains in brief what the 4Ps of Marketing are all about and how to use them. For all of you who like to watch videos, I suggest you to have a look at it.
4Ps of Marketing - How to develop the Marketing Mix?
If you were to ask me the steps to determine the 4Ps of Marketing Mix , I would suggest to you the following 4 steps.
As you use these four steps in your marketing projects at your college or your work, you will realize that these are the exact steps that will help you bring out the best and the most coherent marketing plans.
4 Steps to Develop the 4Ps of Marketing Mix
- Identify the product to be analyzed.
- Answer the 4Ps questions surrounding this product.
- After getting a well-defined marketing mix for the 4Ps, try relating them with the 4Cs (i.e. from the customer's perceptive). a. Product - Consumer Value b. Price - Cost c. Promotion - Communication d. Place - Convenience
- Review your marketing mix regularly, because things can change.
4Ps of Marketing - Key Features
I had to write this out as a separate section because of how important it is for you to understand the nuances attached with the 4Ps of Marketing.
Let me share with you the 4 points, the 4 features that will make a lot of difference in your understanding of the marketing mix.
They are Interdependent variables. That is, they have different functions, but they must work together. One can hardly do without the other.
The 4Ps of marketing are flexible in such a way that, you can always play around with each of the variables. See the the 4Ps of Marketing as the four lever that you as a Marketing Manager will have with you to pull and do different things with.
Constant monitoring is required to make sure that the elements in the marketing mix stays relevant and updated. Again, as I mentioned, they are lever you can play around with.
The focal point of the marketing mix activity are the customers . Therefore, as I mentioned in one of the paragraphs above, you should at all times evaluate the 4Ps of the Marketing Mix from the 4Cs stand-point, i.e. the standpoint of the customers.
Elements of Marketing Mix with Examples
In this part of the article, my aim is to give you a feel of the four elements of the marketing mix through relevant real-world examples of the 4Ps of marketing .
In each of these examples, I will take you through those examples that caught my attention and will help you understand the concepts better.
Product: Coca-Cola Life
When you come to know that there is a Coca-Cola with the Green Label somewhere in the world and that it is still not sold worldwide you probably think
Most people still find it weird but after years of dominating the market with the product and powerful advertising campaign, Coca-Cola found itself in a world where everyone wanted to feel more sustainable and healthier.
So, after 5 years of research, they came up with the Coca-Cola Life , with less sugar and stevia, a natural sweetener.
After a Market test in Chile and Argentina, the product was launched in different countries of the world.
What does this teach about the first P of the marketing mix?
Well, that products must always respond to the needs of the market .
No matter how strong your starting position is, no matter how strong your marketing is (so strong that in the case of Coca-Cola they influenced the way the Western World sees Christmas), there are moments where you have to start from a product.
Seth Godin said: Don’t find customers for your products, find products for your customers.
Price: Organic Apples aren’t Cheap
Pricing doesn’t just mean: go as lower as you can to attack the market.
The Book “Ecological Intelligence” by Daniel Goleman talks of how producers and sellers of organic products must raise prices otherwise none will believe it’s REALLY organic!
This is the concept of Price Positioning on which I happen to have done a blog post some weeks back.
Same happens with Apple: considering the hardware and the competition they can be defined unreasonably overpriced but if Apple will launch a new iPhone for 200$ the strong Apple fan base most probably will not react in a positive way.
So, choosing one price instead of another can automatically identify your product to your customers.
Also Read: Edible Cutlery won't sell until you do this
Place: Don’t tell everyone what you did last Friday
Another mistake that most people do is trying to get through as many channels as possible . A lot of “improvised” entrepreneurs without any education in that make this mistake to multiply their distribution channels.
The problem is that people will also judge not just what you sell and how much you charge for it, but also where they see you.
Imagine that in your city there is a club that is famous for being a place where illegal activities happen.
Now imagine you end up there on a wild Friday night and your partner’s dad finds out: won’t he get a really bad impression of you?
At the same time, your friends will think you are a real bad-ass.
So, the place where you are seen can give you a certain identity according to your target. You want your friends to know where you were Friday night but not your in-laws.
This is the same reason certain brands decide to only sell in their own stores, others don’t sell online and some only sell online: you have to select your sales channels carefully.
Promotion: Loud Enough doesn’t mean Louder
This point can get into thousands of pages without saying anything. With the concept of promotion, you talk about marketing, advertising, sales strategy and a lot more.
What people hardly understand at the beginning is that in a crowded market like our World, being loud enough to be heard in the constant buzz doesn’t mean being louder than everyone.
So, the promotion has nothing to do with exaggerated claims, fake claims, obsessive advertising and all these old-school-tricks .
Yes, they still work for others in certain cases, but they don’t give long-lasting positive fame and sooner or later it will ruin your business.
These old tricks work when you didn’t work on the marketing mix for real (maybe because you don’t have anything valuable to sell) so you have to work all with the promotion.
We tend to think that the 4th P is the most important but this is just because it is the tip of the Iceberg. Promotion is what you see more but there is a lot more than you don’t see.
At the end of the day if you want to succeed in business you have to be looking to create long-lasting relationships with your customers.
The four elements must be in harmony and none most portray conflicting messages. The marketing mix must be customer-centric, that is why the 4Cs must be used alongside the 4Ps while determining answers to the variables.
- The price must be a cost the customer can afford
- The promotion must solely be based on communicating with the customers
- The product must offer a solution to the problem of the customer
- The place must be one that is convenient for the customers to reach
And, just as in your personal life, you don’t create any long-lasting relationships by shouting loud, showing off and lying.
You May Also Like
Branding and Love Marriages have more in common than you think Love marriages start with an early commitment, years before the actual marriage. Branding, in the same way, creates customers much before the person actually pays and becomes a customer.
Understanding Product in Marketing Mix The 7Ps of marketing was one of the first marketing concepts taught to us at B-school. But, you'll be surprised to know that the importance of product in marketing mix can never be underestimated since it is a challenging concept to master even for experienced marketers. Read on to learn in depth about product in marketing mix along with lots of real-life examples of various ideas around the 'Product' concept.
What is the Cost Plus Pricing Strategy? With this article I begin discussing some of the important pricing strategies that there are. Cost Plus Pricing Strategy being one of the most basic and widely used pricing strategies deserves to be discussed first. I share with you some cost plus pricing strategy examples as well.
Classification of Markets – Traditional Markets What is a Market? That question seems simple but becomes tough to answer in a Marketing 101 class. Here in this article, not only will I share with you what is a market but I will tell you in detail the classification of markets (with a focus on Traditional Markets)
SWOT Analysis of Flipkart [Detailed] Flipkart is a leading Indian E-commerce firm which has been delighting Indian consumers over the years. It started out as a small online bookstore and now is a billion-dollar firm. In this article, I will be running through the detailed SWOT analysis of Flipkart and provide in-depth insights about Flipkart.
SWOT Analysis of Google Have you ever wondered about how Google has maintained its powerful position, throughout? We all know about its pseudo-monopoly in Search-Engine. I mean, nowadays everyone jumps to Google for every piffling query that we get! But is that the only reason of its success? Google has a sundry of apps/products under it. Are all of them successfully leading the charts?
About the Author: Darpan Saxena
buy marijuana online in usa
[…]always a major fan of linking to bloggers that I adore but dont get a whole lot of link adore from[…]
Buy Ruger Guns Online
[…]Here is an excellent Weblog You may Locate Interesting that we Encourage You[…]
Academia.edu no longer supports Internet Explorer.
To browse Academia.edu and the wider internet faster and more securely, please take a few seconds to upgrade your browser .
Enter the email address you signed up with and we'll email you a reset link.
- We're Hiring!
- Help Center
Business Plan on the basis of 4ps
We are launching a new product in the market branded as Crispy Flakes. This CHIPS-based product, which will have two flavors Salted and Garlic Maya that will enable people to kill their hunger almost at any time irrespective of ethnicity or age.
RBGN Revista Brasileira de Gestão de Negócios
Purpose – The objective of this paper was to explore which branding strategy (brand extension versus new brand) is most convenient for healthy products, by taking into account the effect that the perceived fit between the nutritional attributes of the regular products of the parent brand and the healthy extensions have on the credibility of the latter. Design/methodology/approach – The required information was obtained through personal interviews with 107 consumers resident in the metropolitan area of Mexico City. The type of study was exploratory-descriptive and focused on the manufactured snacks that are sold in Mexico. Findings – Reformulations of traditional snacks that are commercialized under the name of the parent brand have low credibility with respect to their nutritional value due to the high association between non-healthy attributes and the image of the parent brand. The snacks categorized as healthy are products with well differentiated ingredients but with low brand familiarity. Originality/value – The branding of healthy brands is an incipient area of research in marketing, and thus this paper contributes to the theoretical development of strategies for the commercialization of these brands.
- We're Hiring!
- Help Center
- Find new research papers in:
- Health Sciences
- Earth Sciences
- Cognitive Science
- Computer Science
- Academia ©2023