4ps of marketing essay

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What Are the 4 Ps of Marketing?

• Understanding the 4 Ps

4. Promotion

How to use the 4 ps of marketing in your marketing strategy, the bottom line.

• Business Essentials

4 Ps of Marketing: What They Are & How to Use Them Successfully

Product, price, place, and promotion are the four Ps in a winning "marketing mix"

The four Ps of marketing are:

These are the key factors that are involved in introducing a product or service to the public. Often referred to as a marketing mix , they provide a framework that companies can use to successfully market a product or service to consumers. Since the four Ps were introduced in the 1950s, more Ps have been added to the mix, including people, process, and physical evidence.

Key Takeaways

• 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 .

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.

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 ."

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Marketing Mix 4ps of Nike Company

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What Are the 4 Ps of Marketing? The Marketing Mix Explained [Example]

Published: October 03, 2023

If you've been a marketing professional for years now, learning about the four Ps of marketing might seem like a throwback to you.

However, for those of us who work in the industry but didn't study marketing in college, it's entirely possible you haven't heard of the marketing mix.

Below, let's learn about the four Ps of marketing and how they're still relevant in today's marketing landscape.

What are the 4 Ps of marketing?

The four Ps of marketing are product, price, place, and promotion. These are the key factors that are involved in marketing a product or service. You take the four Ps into account when creating strategies for marketing, promoting, advertising, and positioning your product or brand.

The four Ps are meant to help marketers consider everything about a product or service when they're deciding how to market it for their business. Framing your marketing around the four Ps will help you learn what the competition is doing and what customers want from you.

How to Use the 4 Ps of Marketing

You can use the four Ps to answer questions about the product, price, place, and promotion of your product or service.

For example, you can ask yourself:

• Product : How does your product meet your customer's needs? What problem(s) does it solve? What unique value or features does it offer?
• Price : What is the value of your product? What are my competitors charging?
• Place : Where are customers looking for your product?
• Promotion : How can you differentiate your product from competitors? Where can you reach your audience?

Always consider the needs and preferences of your target audience. Ultimately, your product, its price, its place of distribution, and its promotional strategies should appeal to your customers the most.

Thinking about your marketing in terms of the four Ps will help you strategize how to reach your customers. The 4 Ps of Marketing are also known as your marketing mix — more on that below.

What is the marketing mix?

The marketing mix is also known as the four Ps of marketing. It refers to the four key elements of a marketing strategy: product, price, place, and promotion. These elements guide the marketing initiatives, wording, and positioning for a product or brand.

Free Marketing Mix Templates

Map out your marketing mix with these free templates

You're all set!

Click this link to access this resource at any time.

To develop a marketing mix, you'll need to think about how you can uniquely position your brand amongst the competition. The most important part of thinking about the marketing mix — or the four Ps of marketing — is to understand the customer, the competition, and your company. You'll evaluate your product and how to promote it.

But getting started isn’t easy. That’s why we’ve created the ultimate collection of marketing mix templates you can use to visualize your marketing mix and share it with your employees or investors. Use the templates to organize your initiatives and activities by the right section.

Featured Resource: Marketing Mix Templates

Click here to download the templates for free .

Use the template to follow along with the 4 Ps of marketing below.

The 4 Ps of Marketing (Example)

1. the first p of marketing: product.

When you think about your product, consider exactly what you're selling. Is it a specific product? Or is it a service? Your product can be a physical product, an online app, or a service such as house cleaning. Really, anything that you're selling is the product.

Then, think of your brand messaging, the services you offer, and even packaging. When you define your product, think about what problem your product solves for your customers. Consider how your product is different from competing products. What features are unique to your product?

It's important to know your product intimately so you can market it.

Product Example

We’ll use Marketing Hub as an example.

What is it? “Marketing automation software to help you attract the right audience, convert more visitors into customers, and run complete inbound marketing campaigns at scale — all on one powerful, easy-to-use platform.”

Who is it for? Modern marketers who juggle too much data and who are stuck with impossible-to-use software solutions that make their job harder, not easier.

Which features does it have? Marketing Hub offers blogging, SEO, social media management, email marketing, and ad tracking tools in a single, intuitive platform.

What problem does it solve? Marketing Hub simplifies the marketing automation process for busy marketers by bringing all data and tools under one roof.

2. The Second P of Marketing: Price

When it comes to price, you have to consider how much you're going to charge customers for your products or services. Of course, you need to make a profit.

When coming up with your pricing strategy , you also need to think about what competitors are charging for the same product or service and how much customers are willing to pay. You can also think about what discounts or offers you can use in your marketing.

When you decide on a price, you want to think about perception. Do you want to be known as a cost-effective option in your industry? Or perhaps you're a luxury brand and the price is slightly higher than competition on the market. Keep in mind that pricing SaaS products is a little different than pricing physical products.

Either way, the language you use to market your product will be greatly impacted by the price of your product.

Download a sales pricing calculator for free .

Price Example

Marketing Hub is priced to grow with you as you grow.

We offer the following subscription tiers:

• $0/month (Free)
• $45/month (Starter)
• $800/month (Professional)
• $3,200/month (Enterprise)

3. The Third P of Marketing: Place

When it comes to place, this might mean the physical location of your company, but it could also be defined as anywhere you sell your product, which might be online.

The place is where you market and distribute your product.

Remember that not every place makes sense for every product. For example, if your target market is seniors, then it won't make sense to market on TikTok. It's important to choose the right places to market your product and meet your customers where they're at.

Think about possible distribution channels and outlets you could use to sell your product. Be sure to take into account whether your business is B2B or B2C .

At this point, you'll need to think about how to market your product on all the various channels that make sense for your company.

Place Example

As a provider of a SaaS product, we offer Marketing Hub directly on our website.

Marketers can sign up for Marketing Hub by creating an account directly on our platform. We’ve created a convenient sign-up page for free subscriptions — or they can request a demo from our friendly sales team.

4. The Fourth P of Marketing: Promotion

Promotion is the bread and butter of marketing. This is when you'll think about how to publicize and advertise your product.

Additionally, you'll discuss brand messaging, brand awareness, and lead generation strategies .

When it comes to promotion, keeping communication in mind is of the utmost importance. What messages will resonate with your target market? How can you best promote your product to them?

Think about where, when, and how you'll promote your brand.

Promotion Example

We want to be where marketers are. Most importantly, we want to help them grow in their careers — as well as grow their businesses.

Our inbound marketing strategy will focus primarily on organic acquisition. We’ll promote Marketing Hub over the following channels:

• The HubSpot Marketing Blog
• HubSpot Academy

The 4 Ps of Marketing Examples: Apple and e.l.f. Cosmetics

Let's break down the 4 Ps of marketing for Apple and e.l.f. Cosmetics.

( Image Source )

• Product: iPhones, Macs, iPads, Apple Watch, AirPods, Software, and Services (i.e., Apple Music, Apple TV, iTunes, etc.).
• Price: Apple products are often priced at the higher end of the market. The brand commands premium pricing due to its reputation for innovation, quality, and design.
• Place: Consumers can purchase products online and in retail stores. Apple products are sold worldwide and have a significant global market presence.
• Promotion: Apple places a strong emphasis on cultivating a dedicated and loyal consumer base. Their marketing campaigns reinforce the idea of being part of an "Apple ecosystem." Once users buy one product — like an iPhone – they're more likely to choose other Apple products like MacBooks, iPads, Apple Watches, and more. This ecosystem fosters a deep brand loyalty. This sense of loyalty is evident in their product launches, which are a must-see event in the tech industry.

e.l.f. Cosmetics

• Product: e.l.f. offers a comprehensive range of makeup and skincare products, brushes, and beauty tools.
• Price: One of e.l.f.'s main value propositions is its affordability. Many of their products have a low price point, making the brand accessible to a wide range of consumers. Its lower price point sets it apart from other brands in the beauty space.
• Place: e.l.f. products are widely available in drugstores and big-box retailers like Target and Walmart. It also has a a strong online presence, selling products directly through their website and other online retailers.
• Promotion: As a challenger brand in the beauty space, e.l.f. seeks to establish itself as a recognizable and reliable option at the drugstore and beyond. The brand is proactive across social media, including TikTok, Instagram, and YouTube, to engage with younger demographics. In addition, their campaigns often involve user-generated content to foster a sense of community with their audience. 

Back to You

Even though marketing has changed since the four Ps were developed, the foundational elements of the industry haven't. You can apply the concepts of the marketing mix to create winning marketing strategies that help you profitably launch and promote your company’s products.

Editor's note: This post was originally published in October 2020 and has been updated for comprehensiveness.

Don't forget to share this post!

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Organize your product, price, place, and promotion initiatives in a simple, single template.

Marketing software that helps you drive revenue, save time and resources, and measure and optimize your investments — all on one easy-to-use platform

“The 4 Ps of marketing” — an overview (with examples)

Designing and building a marketing campaign is a big project. Even experienced leaders sometimes find it hard to get started because there is so much to consider, plan, and organize.

But there are several strategies that can help, and “the 4 Ps of marketing” is one of them. It’s not a new concept, but the 4 Ps are so foundational that many marketers are using at least some of them without even knowing it. Understanding the whole framework of the 4 Ps of marketing can help make planning your next campaign simple and straightforward.

To help you get started, this piece will provide:

• A definition of the holistic concept of the 4 Ps of marketing
• A detailed look at each one of the 4 Ps
• Insights on how to put the 4 Ps into action

Getting started with the 4 Ps

What are the 4 ps of marketing.

The 4 Ps of marketing are a collection of four essential elements of a marketing campaign — namely product, price, promotion, and place. Also known as “the marketing mix,” the 4 Ps collectively create a framework for organizing and planning a marketing strategy for a product or service.

Professor Neil H. Borden first described the concept of the 4 Ps and the marketing mix in the early 1950s at Harvard University. In the 1960s, marketing professor E. Jerome McCarthy at Michigan State University officially named these concepts “the 4 Ps of marketing” in his book Basic Marketing: The Managerial Approach .

Borden later published his conclusions in a 1964 article, “ The Concept of the Marketing Mix . ” The 4 Ps have remained a key reference for companies in consumer marketing and advertising for decades.

Marketing has evolved dramatically since the 1950s, and the marketing mix continues to develop as well. As early as the 1960s, the Ps were expanded to include people, process, and physical evidence. The marketing mix concept continues to be developed as marketers apply the concept to modern marketing.

Understanding the 4 Ps of marketing

The 4 Ps help marketers consider a product or service in the eyes of their consumers and buyers. It’s a framework that helps marketers build a holistic marketing strategy based on a deep understanding of the product, strategic consideration of pricing , unified view of promotional tactics, and unique insights into the places your audiences are.

Product — the object or service for sale

The product is the object or service for sale, and the marketer needs to know the product well. Understanding the product is about more than just knowing what it is and what it does. In order to design a strategic marketing campaign, you need a complete picture of:

• Your product or service
• How users relate to your product or service
• How your product compares to the competition

All of the details are important, and it will take a little bit of time to pull together a complete view of the product — but don’t skip it. It’s easy to get a very basic product description and then skip ahead to designing a marketing plan, but this almost guarantees that some insights will be left out — and the advertising strategy won’t be as strong as it could be.

Business owners and entrepreneurs should be especially careful here. You’ve probably spent a lot of time working on your product already, but thinking about it from a marketing perspective is a little different. Make sure you have a complete marketing portrait of your product before moving forward.

An example of product

A media streaming subscription is an example of a product. The company may offer a limited, free plan but also provide another tier of service for a monthly fee. As the marketing team considers the product, they may note that this plan offers more types of media than their competitors. Market research may reveal that while the product was designed for desktop devices, most users are actually engaging on their smartphone apps. Or they may discover that even though they thought the service was being used for casual entertainment, there is actually a large audience segment streaming educational podcasts in the mornings.

Price — cost of the product or service

As part of the marketing mix, “price” refers to how the cost and pricing structure of a product will impact the marketing strategy . In some cases, pricing will be designed in conjunction with a marketing strategy. But even if pricing details are simply handed down to the marketing team, it shouldn’t be overlooked as a key consideration.

The concept of price becomes a marketing strategy in a couple of ways, including:

• Brand perception. Pricing affects how your audience perceives your brand and your product. If you can design pricing structures as part of your marketing campaign, consider whether you are offering an economy or a luxury product. If pricing is predetermined, the marketing campaign will need to be consistent with the perception that pricing creates.
• Lead generation. Pricing strategies can be designed for lead generation by using free trials or limited free pricing tiers. Whether or not lead generation is built into your product’s pricing structure will impact your marketing campaigns.

An example of price

In our media streaming example, the company offers a free account with limited access. If the paid subscription costs more than competitor subscriptions, the marketing team may choose to describe and illustrate their service as a more sophisticated option. Ad campaigns may associate the product with a more expensive lifestyle, highlight the larger library of content, direct content at adults more than teenagers, and establish partnership marketing relationships with other brands that market to the same audience.

Promotion — reach the target audience

Promotion is communicating with customers and target audiences. Promotion is what comes to mind for many people when they think about marketing because it’s the piece of the marketing strategy that considers how to tell your audience about your product.

Promotion includes SEO and content marketing, online ads, social media advertising, email marketing, public relations campaigns, media placement, and more. It’s about all of the considerations that will help you get your product to your audiences. Some of those considerations include:

• The types of messaging your audience responds to
• The ideal time to communicate with them
• Market segmentation and demographics
• How people interact with your brand

You’ll take all of those insights (and more) and use them to design visual ads, videos, email campaigns, and content calendars that speak directly to your target audience at every stage of the customer journey. You’ll also want to consider how to use personalization at scale in order to create a truly unique, engaging experience for each individual that helps move them through the funnel.

https://main--bacom-blog--adobecom.hlx.page/blog/fragments/personalization-at-scale

An example of promotion

For example, the media streaming service may consider a promotional campaign that targets business professionals in major US cities. The company may partner with popular tech brands and design messaging that advertises the largest collection of educational podcasts — perfect for learning about your business or favorite subjects during your morning routine.

Place — location of consumers

Place is about where and how your product is available, as well as where your marketing messages are shared. The idea of product ”place” is an important marketing consideration because it also affects brand perception. The “place” of your promotions has a similar effect because people associate the medium with the message. Many exclusive brands, for example, are not available in big box department stores. Selective product placement reinforces the customer’s view of the brand as something elite.

It’s important to note that most marketing places are now digital. Digital marketers need to consider where their customers and buyers are online, both for product and promotional placement.

An example of place

Let’s take one last look at the media streaming company example. The marketing team may focus a lot (if not all) of their campaign resources on digital platforms. LinkedIn might be a more valuable place than Facebook, and podcast sponsorships might be a valuable place for influencer marketing.

How to use the 4 Ps of marketing

You can put the 4 Ps of marketing to work by using them as a framework for planning your next campaign. Think through and document how each one applies to your strategy and how the implications of each can improve your marketing performance by asking some strategic questions:

• What is unique about your product?
• Why is it better than the competition?
• How is the product designed to be used?
• How is your audience actually using the product?
• What needs does the product meet?
• What frustrations does your audience have with the product?
• What frustrations does your audience have with competitor products?
• How does the product relate to our current branding and company mission?
• What does the price communicate about the product?
• What does the price communicate about your brand?
• How will the pricing likely influence buyer perception?
• Does the pricing model support lead generation strategies?
• Based on the product and pricing, who are my target audiences?
• Why do my target personas need this product?
• When are my target personas most aware of their need for this product?
• What type of messaging and content most resonate with my target audiences?
• Where should my product be available? Is it exclusive or widely available?
• Is my target audience geographically limited?
• Where does my target audience spend their time?
• What digital channels does my target audience prefer?
• What marketing partners align with the strategy for this product and our brand identity?

The 4 Ps of marketing are not a new strategy and — like most marketing strategies — the strength of the marketing mix lies in its flexibility. It continues to develop to suit marketers’ needs and remains a key framework decades after it was first documented.

For your next marketing campaign, start by making sure your whole team has a clear definition of the product from every angle. Then use the remaining Ps to outline a successful marketing campaign.

When you’re ready to get started, check out Adobe Experience Manager to learn how the industry’s most robust digital asset management solution can help you put the 4 Ps into action. Deliver timely, relevant, and personal experiences — and reach your audience faster.

https://video.tv.adobe.com/v/36376

1.2 The Marketing Mix and the 4Ps of Marketing

Learning outcomes.

By the end of this section, you will be able to:

• 1 Define and describe the marketing mix.
• 2 List and explain the 4Ps of marketing.

Marketing Mix Defined

Having a great product or service is just the first step in establishing a successful business or building a successful brand. The best product or service in the world won’t translate to profits unless people know about it. How do you reach customers and help them connect with your product? That’s the role of the marketing mix.

The marketing mix is commonly referred to as the tactics a company can use to promote its products or services in the market in order to influence consumers to buy. The marketing mix is also known as the 4Ps: product, price, place, and promotion (see Figure 1.4 ). Let’s look more closely.

• The product is the good or service that the company provides.
• The price is what the consumer pays in exchange for the product.
• The place is where the product is purchased.
• Promotion is comprised of advertising, sales, and other communication efforts the company utilizes to attract the customer.

The 4Ps of Marketing

To this point, we’ve been talking marketing in somewhat of an abstract manner. Instead of continuing with a theoretical discussion of the marketing mix and the 4Ps of marketing, we’re going to approach these topics using an example of a product you probably already own—a backpack. Let’s get started.

Remember: product refers to a good or service that a company offers to its customers. Let’s consider a product that many of you likely own as a college student: a backpack (see Figure 1.5 ).

In terms of the first of the 4Ps, marketing analyzes the needs of consumers who buy backpacks and decides if they want more and/or different bags. For example, marketing will analyze what features consumers want in the bag. Do they want a water bottle pocket, padded shoulder straps, reflective tape, a padded laptop sleeve, or organizer pockets? Think about your own bag for a moment: Why did you buy this particular product? What features did it have that made it appealing to you?

Armed with market research knowledge, marketing then attempts to predict what types of backpacks different consumers will want and which of these consumers they will try to satisfy. For example, are you selling bags to adults for their children’s use? Are you selling them to young adults who might want more (or different) graphics on the bag? Are you selling to adults who will use these bags for work or for school?

Marketing will then estimate how many of these consumers will purchase backpacks over the next several years and how many bags they’ll likely purchase. Marketing will also estimate how many competitors will be producing backpacks, how many they’ll produce, and what types.

Price is the amount consumers pay for a product or service. There’s a delicate balance here. On one hand, marketers must link the price to the product’s real or perceived benefits while at the same time taking into consideration factors like production costs, seasonal and distributor discounts, and pricing product lines and different models within the line.

Marketers attempt to estimate how much consumers are willing to pay for the backpack and—perhaps more importantly—if the company can make a profit selling at that price. Pricing products or services can be both an art and a science. In the case of our backpack example, the company wants to determine two things:

• What’s the minimum price that the company can charge for the backpack and still make a profit?
• What’s the maximum price that the company can charge for the backpack without losing customers?

The “correct” answer usually lies somewhere in between those points on the price continuum.

Promotion includes advertising, public relations, and many other promotional strategies, including television and print advertisements, internet and social media advertising, and trade shows. A company’s promotional efforts must increase awareness of the product and articulate the reasons why customers should purchase their product. Remember: the goal of any promotional activity is to reach the “right” consumers at the right time and the right place.

In terms of our backpack example, marketing now needs to decide which kinds of promotional strategies should be used to tell potential customers about the company’s backpacks. For instance, should you use TV advertisements to make customers aware of the backpack? If so, you’ll want to run your commercials during programs that your target audience watches. For example, if you’re selling backpacks to children (or trying to entice them to badger their parents to purchase them), children’s cartoons may be the most cost-effective avenue to reach your target market. If your backpacks are designed for work or school, you’ll likely decide to advertise on television programs that target younger adults.

Link to Learning

Netflix, jansport, and stranger things.

A real-world promotional example is the recent brand partnership between Netflix and JanSport , the backpack company. These two companies collaborated on a Stranger Things –branded backpack with the launch of the fourth season of Stranger Things in 2022. This collaboration created five Hawkins-inspired backpacks centered on various Stranger Things themes. Read more about this promotion and see the backpacks here .

Perhaps you’ll decide to run magazine print ads. If so, you’ll need to decide in which magazines you’ll place the ads. Most magazines have a very specific readership demographic consisting of factors such as age, gender, and interests. If you’re going to advertise those backpacks with print ads, you’ll want to leverage readership demographics to ensure that your message is being seen by the right consumers—those who are most likely to buy your backpacks. 18

What about internet advertising? Internet advertising (sometimes known as online advertising or digital advertising) is a promotional strategy in which the company utilizes the internet as a medium to deliver its marketing messages. If you’re going to go the digital route, what types of internet advertising will you use? Search engine marketing? Email marketing? Social media ads? TikTok videos?

Place considerations focus on how and where to deliver the product to the consumer most likely to buy it. Where did you buy your backpack? Did you buy it in a big box store, online, in an office products store, or perhaps even the school bookstore? Once again, through market research, marketers determine where potential customers will be and how to get the company’s backpacks to them.

One important factor to note about the importance of place in the marketing mix is that it doesn’t refer to the location of the company itself but rather to the location of the customers or potential customers. Place deals with strategies the marketer can employ to get those backpacks from their present location—a warehouse, for example—to the location of the customers.

Knowledge Check

It’s time to check your knowledge on the concepts presented in this section. Refer to the Answer Key at the end of the book for feedback.

• Positioning

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• Book title: Principles of Marketing
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• Location: Houston, Texas
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• Section URL: https://openstax.org/books/principles-marketing/pages/1-2-the-marketing-mix-and-the-4ps-of-marketing

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Marketing Mix: 4Ps

Introduction.

If you want to sell more of your product or service, you must carefully consider the four Ps and strategically use them in your marketing strategy. What you sell, where you sell it, how you promote it, and how much you charge are the four Ps of marketing. The marketing mix consists of the “four Ps,” commonly called. What consumers desire, how well the product or service delivers on that demand, how the public receives it, how it stands out from the crowd, and how the firm behind it interacts with its buyers are all part of the marketing mix. For Place, this involves carefully selecting which retailers will carry a product and arranging for optimal product placement within those stores.

1 st  article

Jeanpert and Paché (2018) did a literature review to develop the multi-channel strategy’s conceptual framework. Increasingly, businesses across the globe are juggling many distribution channels to meet the needs of their clients for the various goods and services they provide. It can be time-consuming and costly to manage multiple routes of distribution. More people and money are needed to address several marketing platforms efficiently for businesses. It was the goal of Jeanpert and Paché’s (2018) conceptual framework to facilitate the integration of marketing and logistics concerns into a coherent multi-channel strategy. The difficulties associated with managing many channels make it extremely difficult to coordinate the allocation of marketing and logistical resources among the media. According to Jeanpert and Paché (2016), companies with numerous marketing and distribution channels need to ensure that their marketing and supply chain divisions work closely together to solve the issues that come with operating a variety of distribution channels. Cooperation is essential to the successful functioning of a multi-channel approach.

2 nd  article

Adesoga and James (2019) examined how firms’ promoting execution is influenced by channel techniques through an inquiry about extend in Lagos State, Nigeria. Within the context of the 4Ps that make up the marketing mix architecture, channel strategy is utilized to manage the location component effectively. According to the researchers’ findings, channel strategy can be affected by various elements, including transportation systems, storage facilities, levels of security, and government legislation. If businesses want to guarantee that they make the best decisions about their marketing channel strategy, they must consider the many elements carefully. Adesoga and James (2019) unruffled and examined data from 592 sales and marketing experts working in firms within the state of Lagos to decide the impact that channel procedure has on showcasing execution. As a result, the sample reflected the characteristics of the population accurately. After studying the data acquired, it was discovered that channel procedure majorly affected promoting execution. Certain tactics had a favorable impact on marketing performance, while other techniques harmed the same. The study’s findings support the conclusion that the place component of the 4Ps marketing mix is essential for successful marketing. Businesses need to prioritize selecting the appropriate channel strategies to maximize the benefits available to them due to such strategies.

3 rd  article

Al Badi, K. S. (2018) dedicated a good part of his journal to shed light on the Place as one of the 4ps using small and medium-sized enterprises as a case study. Al Badi, K. S. (2018) states that realizing marketing goals depends on more than just production, pricing, and advertising. The availability objective of having the product accessible at the correct time and Put can as it was be accomplished with a well-oiled dissemination framework. Al Buraimi’s little and medium-sized ventures utilize conveyance channels to urge their products and messages before clients helpfully. Move things from the point of generation to the request ranges, educating clients approximately items and administrations, and advancing items and administrations are as it were many of the numerous benefits of dispersion channels, as expressed by Al Badi, K. S. (2018)

Place in the 4Ps refers to making goods and services available in locations from which customers can conveniently access such goods and services. The place component requires the use of various marketing platforms. Utilizing a marketing channel strategy helps to ensure that products and services are distributed to the market in a manner that is both efficient and effective. Both articles that looked at Place emphasize the significance of marketing channel strategy in achieving good market performance. Companies are responsible for considering all of the elements that influence distribution channels. In addition, businesses need to use marketing channels that are likely to ensure their success in the market. The problematic issue at hand is managing various marketing challenges simultaneously. To ensure that a multi-channel strategy will be effective, businesses must maintain close communication across their marketing, distribution, and supply chain departments.

Adesoga, A. D., & James, A. A. (2019). Channel Strategy and Marketing Performance of Selected Consumer Goods Firms in Lagos State, Nigeria.  Academy of Marketing Studies Journal ,  23 (1), 1-18.

Al Badi, K. S. (2018). The Impact of Marketing Mix on the Competitive Advantage of the SME Sector in the Al Buraimi Governorate in Oman.  SAGE Open ,  8 (3), 215824401880083. SagePub. https://doi.org/10.1177/2158244018800838

Jeanpert, S., & Paché, G. (2018). Successful multi-channel strategy: mixing marketing and logistical issues.  Journal Of Business Strategy ,  37 (2), 12-19

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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!

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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.

Product  

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 .

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 .

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  

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.

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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

“What-The-H...?”.

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. 

Conclusion  

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.

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The Marketing Mix and the 4Ps of Marketing

Understanding how to position your market offering.

By the Mind Tools Content Team

Marketing is all about putting the right product in the right place, at the right price, at the right time.

Sounds simple! You just need to create a product that a particular group of people want, put it on sale some place that those same people visit regularly, and price it at a level which matches the value they feel they get out of it; and do all that at a time they want to buy.

To achieve this effectively, however, a lot of hard work needs to go into finding out what customers want, and identifying where they do their shopping. Then you need to figure out how to produce the item at a price that represents value to them, and get it all to come together at the critical time.

But if you get just one element wrong, it can spell disaster. You could be left promoting a car with amazing fuel economy in a country where fuel is very cheap, or publishing a textbook after the start of the new school year, or selling an item at a price that's too high – or too low – to attract the people you're targeting.

The marketing mix and the 4Ps of marketing are great tools can help you to avoid these kinds of mistakes. In this article and in the video, below, we'll discover more about how you can use them to develop a successful marketing strategy.

What Are the 4Ps of Marketing?

The 4Ps of marketing is a model for enhancing the components of your "marketing mix" – the way in which you take a new product or service to market. It helps you to define your marketing options in terms of price, product, promotion, and place so that your offering meets a specific customer need or demand.

The marketing mix and the 4Ps of marketing are often used as synonyms for one another. In fact, they are not necessarily the same thing.

"Marketing mix" is a general phrase used to describe the different kinds of choices organizations have to make during the process of bringing a product or service to market. The 4Ps is one way – probably the best-known way – of defining the marketing mix, and was first expressed in 1960 by E. J. McCarthy in his book, "Basic Marketing – A Managerial Approach." [1]

The 4Ps are:

• Product (or Service).

A good way to understand the 4Ps is by the questions that you need to ask to define your marketing mix. Here are some questions that will help you understand and define each of the four elements:

Product/Service

• What does the customer want from the product /service? What needs does it satisfy?
• What features does it have to meet these needs? Are there any features you've missed out? Are you including costly features that the customer won't actually use?
• How and where will the customer use it?
• What does it look like? How will customers experience it?
• What size(s), color(s), and so on, should it be?
• What is it to be called?
• How is it branded?
• How is it different from products by your competitors?
• What is the most it can cost to provide and still be sold sufficiently profitably? (See also Price, below.)
• Where do buyers look for your product or service?
• If they look in a store, what kind? A specialist boutique or in a supermarket, or both? Online? Or direct, via a catalog?
• How can you access the right distribution channels?
• Do you need to use a sales force? Or attend trade fairs? Or make online submissions? Or send samples to catalog companies?
• What do your competitors do, and how can you learn from that and/or differentiate?
• What is the value of the product or service to the buyer?
• Are there established price points for products or services in this area?
• Is the customer price sensitive? Will a small decrease in price gain you extra market share? Or will a small increase be indiscernible, and so gain you extra profit margin?
• What discounts should be offered to trade customers, or to other specific segments of your market?
• How will your price compare with your competitors?
• Where and when can you get your marketing messages across to your target market?
• Will you reach your audience by advertising online, in the press, on TV, on radio, or on billboards? By using direct marketing mailshots? Through PR? On the internet?
• When is the best time to promote? Is there seasonality in the market? Are there any wider environmental issues that suggest or dictate the timing of your market launch or subsequent promotions?
• How do your competitors do their promotions? And how does that influence your choice of promotional activity?

As the four Ps all need to be considered in relation to one another, it doesn't really matter in what order you define them. This is why you may find them quoted in a different order from the one used above. In particular, they're often referred to in the order "place, price, product, promotion."

Alternative Marketing Models

The 4Ps of marketing is just one of many lists that have been developed over the years. And, whilst the questions we have listed above are key, they are just a subset of the detailed probing that may be required to optimize your marketing mix.

Amongst the other models that have been developed over the years is Boom and Bitner's 7Ps, sometimes called the extended marketing mix, which include the first 4Ps, plus people, processes and physical layout decisions.

Another approach is Lauterborn's 4Cs, which presents the elements of the marketing mix from the buyer's, rather than the seller's, perspective. It is made up of:

• Customer needs and wants (the equivalent of product).
• Cost (price).
• Convenience (place).
• Communication (promotion).

In this article, we focus on the 4Ps model as it is the most well-recognized, and contains the core elements of a good marketing mix.

Using the 4Ps of Marketing

The model can be used to help you to decide how to take a new offer to market. It can also be used to test your existing marketing strategy . Whether you are considering a new or existing offer, follow the steps below to help you to define and improve your marketing mix.

1. Start by identifying the product or service that you want to analyze.

2. Now go through and answer the 4Ps questions – as defined in detail above.

3. Try asking "why" and "what if" questions too, to challenge your offer. For example, ask why your target audience needs a particular feature. What if you drop your price by 5 percent? What if you offer more colors? Why sell through wholesalers rather than direct channels? What if you improve PR rather than rely on online advertising?

Check through your answers to make sure that they are based on sound knowledge and facts. If there are doubts about your assumptions , identify any market research , or facts and figures that you may need to gather.

4. Once you have a well-defined marketing mix, try "testing" the overall offer from the customer's perspective, by asking customer focused questions:Does it meet their needs? (Product.) Will they find it where they shop? (Place.) Will they think that it's priced favorably? (Price.) Will the marketing communications reach them? (Promotion.)

5. Keep on asking questions and making changes to your mix until you are satisfied that you have optimized your marketing mix, given the information and facts and figures you have available.

6. Review your marketing mix regularly, as some elements will need to change as the product or service and its market grow, mature and adapt in an ever-changing competitive environment.

The marketing mix helps you define the marketing elements for successfully positioning your market offer.

One of the best-known models is the 4Ps of Marketing, which helps you define your marketing options in terms of:

Use the model when you are planning a new venture, or evaluating an existing offer, to optimize the impact with your target market.

[1] McCarthy, E.J. (1960.) 'Basic Marketing - A Managerial Approach.' R.D. Irwin. Available here .

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The 4p’s Marketing Strategies Analysis

Introduction.

Before any major changes are made in a business it is good to undertake market research to determine the effect the change will have on the business. Market research ensures that the business does not face for instance undergo financial problems because of poor research. The problems might arise from things such as high competition, lack of customers and as well being in the wrong business altogether. There are various ways a company can undertake market research. This can be through consumer market research or business-to-business market research. The importance of consumer marketing research will help the company to know the behavior of the consumers. Consumer behavior will determine how the product will be received in the market company because of the consumer preference and their buying habits, and also to some extend how income distributed among target consumers. Business to business research will enable the company management to reduce uncertainties that might arise after the business decision has been implemented. Therefore, the market research will assist the management team to put together the collected information and afterward decide on the best move to take. Hence through this, the company will develop a product that will correspond to the behaviors of the customers.

In marketing, the 4p’s (product, price, promotion, and place) combined enable the business to realize its objective. These are put together to make the marketing mix.

• Product: “Products are broadly defined as anything offered for attention, acquisition, use or consumption that is capable of satisfying needs,” (Sandhusen, 2000, pp320). Satisfaction comes from both physical satisfaction and psychological satisfaction. A customer who gets in a hotel and is served by a waiter and he feels that the waiter meets all the standards he prefers, such customer will have his food his stomach satisfied as well as the mind. But in case he is served by the untidy customer even if his stomach is satisfied his mind won’t be settled, Therefore, in catering business its not only a matter of providing food as a product but also make the product presentable. Hence the kind of products for Radisson hotels includes high-quality meals and all hospitality services. Some other recreational facilities and diets cater to different tastes.
• Price: this is the value of the product to be charged to the customers. The price of the product will mostly determine the number and type of customers who visit the business and also will set a pace with the other competitors. Therefore, a pricing policy is used to distinguish a company’s offering to the customers. The prices are usually low during the off-peak seasons. Even though they have peak season prices, the Radisson hotel company does not inflate them like other hotels.
• Promotion: this is the act of creating awareness to the customers about the existence of the products you are offering. Promotion can be done through public relations, carrying out advertisements, as well as through selling methods. The Radisson hotel offers its customers gifts and presents during festive seasons. This could include Christmas presents and special packages at lower prices. And also excellent services like saunas, conference facilities, and gyms.
• Place: this mostly talks about the channels of distribution of a product as well as the physical location of the business. The Radisson Hotels are located in most major towns in the world. They are also located within or near big towns strategically to attract clients. Wherever they are located, it is accessible and near the airports. This makes it efficient and easy to be accessed by businessmen, travelers, and other holidaymakers.

Determining the product to put on the market

In determining the product to put on the market, the company will have to design products that will meet customer satisfaction as well as the objective of the organization. A product design has an influence on determining the customers of the organization and the other 3P’s. To determine the company’s product, the marketing department has to analyze the resource requirement of the product and the potential or existing competitors in the market. To develop the product customers’ tastes and preferences should be a determining factor. The customers in the region will find most of our food stocks that are organically produced. In most instances, the product has to meet the needs of the customer. The marketing team should also examine the cost associated with the production and distribution of these products. This is because the cost will reflect the price that has to be charged on the product so that it covers the cost of production and have a profit margin on it. Product determination will also enable the organization to know how the product is used, and by whom.

Determining to price

Setting price is one of the most challenging but again more flexible of the 4p’s. When setting a price of the commodities, the company’s marketing team has to account for the costs incurred in the business how the customers perceive the set prices and how the effect of the pricing will trickle down to the competitors. Cost analysis is very important as it will show the best position that the base price can be set at. To set a price, the company has to look at its short and long-term objectives. Is it to attract customers first? Is it for promotional purposes? Is it to make the possible highest profit? Etc. Prices have a direct effect on sales, profit as well as the other 3P’s. A pricing policy is used to distinguish one firm’s offering from another. It will eventually create market share and determine the maximum profits of the firm. The most important thing is that the company should first break even. Then after obtaining a break-even point, Kudler should see a price that resembles the competitors. This is because if they put a slightly lower price, most customers might think that their products are of low quality hence opts for the competitors. On the other hand, if they set a higher price than the already existing competitors’, the customers will also shun it and go for an alternative cheaper restaurant. Therefore when the company sets a price at the level of the already existing competitors, they will get customers especially the curious who want to try their services. This will cause an effect on the other competitors since they will be forced to adjust their prices to attract more customers. And the price is more flexible than the 4p’s, firms can also now adjust their prices depending on the objective. The company can undertake the demand – competitive-based pricing.

Determining promotion

The idea about promotion is mostly to inform the customers about the product, persuade them to buy, and also keep on reminding them about the existence of the product. The promotion of the company should be done both directly and indirectly to reach a wide range of customers. There should be increased publicity about the services the company will be offering, have a public relations manager who will be able to handle customer complaints directly and in the process, he will be promoting the company through the mouth to mouth activity. The company needs to reach its customers through promotions. Therefore, it is of great importance that the company develops a high-tech system to enable it to communicate with customers or promote its products. Advertising can take place through the media (print, radio, or television). The company, therefore, requires taking a reputable media house for its advertisement. The company can as well go ahead and have its printing system to enable print posters and other materials such as journals and magazines that can promote the industry.

The Radisson hotels and resorts company has set up a web that the customers can access the information about services offered and also make an order for reservation online. These web services also inform customers of the location of the hotels and the services offered. In the advertisement, branding is meant for improving the quality of a manufacturer’s product. “Advertising justifies its existence when used in the public interest. It is much too powerful a tool to use solely for commercial purposes” attributed to Howard Gossage by David Ogilvy. Ad tracking is a way of measuring advertisement effectiveness. Animation is a form of advertisement used which expresses more details and in usually in the computer since it is normally difficult to achieve with the actors this method becomes more effective. Energizer bunny is another advertisement whereby the room was filled with batteries, which seemed to be moving except the energizer battery this promoted market for the energizer battery. Frequency advertisement is whereby the advertisements are displayed on television such that the viewer will long to continue on the next movie even when the first one has ended. The viewer would enjoy that channel throughout. Some of the restrictions in advertisement include the burning of certain products in the advertisement this may cause the company owning the product to fall. Some television station is embarked by the government hence this brings reduction of advertisement strategy. The use of music previously and currently recorded also helps in promoting advertisement. This is because music artists are very creative and can easily pass messages from one point to another through media or physical action. It is a quick method of advertising products.

Sponsorship

They are several firms internationally which are aimed at sponsoring sponsorship may be meant for different activity or goals e.g. an environmental you very consult friends of the earth, reinforcement foundation. Other sponsors include Age concern, British Heart Foundation; Help the Aged, which sponsors people e.t.c. There are some limitations in using publicity, first and foremost the information or message communicated must be accurate interesting, and timely e.t.c.

SWOT Analysis Radisson

• Global presence: the hotel is a multinational entity with outlets that enjoy the global dimensions. Each independent entity offers a modest and appealing aura.
• Radisson hotel has integrated technology which is so potent in terms of customer care relations and also for wedging massive online campaigns. This has increased its monetary portfolio and also better customer communication.
• Efficient booking services.

Opportunities

Radisson offers warm hospitality, based on its strategic location that is close to the shopping, theater, and museums. This atmosphere is so inviting and top-notch services are quite appealing to business and leisure travelers alike. Radisson’s mission to offering the finest personalized service and facilities ensures a memorable experience.

Radisson owns spacious rooms that offer luxuries and stunning views, these rooms have been integrated with high-speed internet infrastructure, spacious work desk, coffee maker, hairdryer, iron and iron, and ironing board.

Clients have an opportunity to enjoy full service onsite in Athletic Clubs that are staffed personnel trainers, and our indoor heated pool with waterfall and hot tub. Guests can also enjoy our 5000-gallon saltwater aquarium located on the lower level and three full-service shopping outlets located on the main level.

Groups & Meetings

The hotel offers state-of-the-art auditoriums for meetings and conferences for private events. These are held in the hotels spacious and elegant grand ballroom and reception foyers

• Terrorism is a potential threat that gravely hampers the existence of Radisson hotel. This has hampered the smooth running of the hotel industry bringing global attention to how terrorism can be devastating to such unscrupulous and heinous actions.
• The unpredictable climatic conditions pose some threats; this is evident with the increased water levels that might harm the well-being of their structures.
• Competition
• Nonoptimal organization structure.
• Taxation variations.

Most of its establishments are located in remote places.

Marketing can therefore be considered as an activity that gets customers, serves them, and make sure the organization has secured them for their continued service. The function of marketing also entails coming up with a product, communicate it to customers, and make sure it gets to them. The Radisson company should develop a brand of product that will reflect the worthiness of the good. With a brand in place, it will always rekindle in mind of the customers that at a certain place, there is a brand of high quality. With such awareness with the consumers, the company will be able to develop a strong vitality of the product. Public relations which are part of the promotions are meant to amplify the image of a person or an institution. It is a function aimed at winning public understanding through settings up programs and procedures of an organization. A high level of science and technology in communication, such as broadcasting, satellites, and the Internet has enhanced the modern public relations industry that has been used by this company. The art of advertising products and services to sensitize customers on the same have played a major role in this policy of market communication. The effect of globalization is a factor to consider in public relations. This is because various regions all over the world have different cultures and practices, the economic structures vary from one country to another. The medium of publicity such as newspapers and electronics should allow information targeting a particular audience and their information should be tailored in winning the audience. Formation of Lobby groups; these groups are very influential both in public and government policies. They present a specific interest to the public.

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• McDonald, M. (2002), Marketing Plans How to Prepare Them, How to Use Them, 5th ed., (Oxford: Butterworth-Heinemann).
• Pickton, D. and Broderick, A. (2004), Integrated Marketing Communications, 2nd ed., (Upper Saddle River, N.J.: Prentice Hall Financial Times).
• Riquelme, P. (2002), Do Customers Know What They Want? The journal of consumer marketing, 16(2), 436-452
• Sandhusen. R.L. 2000: Marketing: ISBN 0764112775, Barron’s Educational Series.
• Sharon, D. (1999), Applied Multivariate Techniques. Journal of Consumer Research
• Smith, P. (2004), Marketing Communications: An Integrated Approach, 4th ed,( New York: Prentice hall)
• Solomon, M., Bamossy, G. and Askegaard, S. (2002), Consumer Behaviour – An European Perspective, 2nd ed, (Harlow: Financial Times/Prentice-Hall).

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4Ps Marketing Mix Analysis Template

Are you looking for a free 4Ps framework generator? Check out our free marketing mix analysis template and get a custom report for your project in a matter of seconds! All you have to do is add the data, choose the design, and download the result.

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What is a 4Ps framework ? It is a popular framework used by many businesses to set an effective marketing mix. It consists of 4 elements.

We shall delve into the marketing mix 4Ps in the next section.

What Is the Importance of Marketing Mix?

A marketing mix helps you have a deeper understanding of your products or services and if customers are satisfied. You will also be able to implement successful product deliveries. Apart from knowing how and when to conduct product promotions, you will also be better positioned to handle business risks with a solid marketing plan. You can also use the marketing mix for consulting or innovation purposes to improve your products or services.

What Are the Four Ps in Marketing?

The four Ps of marketing are theoretical elements vital for any business to succeed. Many businesses need a strategic marketing plan to ensure customers get the right product. Thus, the four Ps are major aspects you must consider for successful marketing.

The list below is a representation of the 4Ps:

These components are also known as the marketing mix. Sometimes the framework can go up to seven elements in advanced marketing plans.

What Are the Four Elements of the Marketing Mix?

Let us explore the 4 elements of the marketing mix.

The four Marketing Mix elements are:

What Is Place in the 4Ps of Marketing?

Place in marketing mix refers to the location of your company's operations. Where will the customer access your services? Is it a physical shop or an online store? Whatever the case, your customers should be able to locate your business easily. If you have a website or ecommerce store, ensure it is user-friendly and easy to navigate.

If you want to develop a practical 4Ps framework, follow the steps below:

• Identify one product or service you want to market.
• Evaluate how your product or service will meet the target customers' needs.
• Analyze the market to understand customer behavior, like the preferred shopping locations.
• Set a realistic product price after thorough market research.
• Formulate a promotional plan and marketing concepts.
• Look at your 4Ps and check if the details align with your product.
• Review your marketing mix to determine its effectiveness and adjust where necessary.

It is important to keep evaluating your marketing mix to ensure it provides optimal results.

📂 4Ps Framework Free Example

Let us take an example of the Coca-Cola Company to understand its 4Ps marketing mix.

✅ Marketing Mix Template Benefits

A 4Ps generator is an important tool to help you develop a proper marketing strategy.

Here are the benefits of using our 4Ps framework generator:

• Easy to access. You can use the online tool anytime as long as you have a device and an Internet connection.
• No payments. The tool is free without hidden charges.
• No downloads. You can access the tool directly using your browsers. There are no downloadable apps or extensions.
• Time-saving. Its simplicity saves time because the tool is self-explanatory
• User-friendly. The framework is user-friendly and generates quick results.

Thank you for reading this article! If you want to try other free business analysis templates, check our 7Ps generator , STP template , 7S template generator , and a SMART goals maker .

Updated: Oct 25th, 2023

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This page contains 4Ps framework generator. The classic 4Ps Marketing Mix model consists of four components: Product, Price, Place, and Promotion. These elements are vital for any business to succeed, as they give a deeper understanding of products and services.

• Marketing and PR

McDonalds' 4Ps of Marketing Mix

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Academic level: College

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McDonalds has its presence in over 100 countries. Its products reach more than 69 million people ( Meyer, 2018) . McDonalds is an American company that was founded in 1940 ( Meyer, 2018) . The company specializes in food products where its goal has been to reach as many people with its products as possible. For that success to be realized, the McDonalds has employed the art of the 4Ps of marketing in its operations. This analysis looks into how McDonalds has been able to strategize on its operations through product, price, place, and promotion which compose the 4Ps of marketing mix. The 4Ps of marketing include product which defines the products the company is offering: price for the amount a consumer pays for the products: place defining the location of product markets and: promotion which deals with marketing. For instance, as of 2018, the company has over 37,000 outlets around the globe which is evidence of how it has utilized placing its outlets and products to become successful ( Meyer, 2018) . 

McDonalds and the 4Ps of Marketing Mix 

McDonalds has established itself as a leader in the food products company in the US. Currently, the company has the largest market share in the country of products such as snacks and sides, desserts and shakes, breakfast and hamburgers and sandwiches ( Meyer, 2018) . The company utilizes the use of beef in its menu products such as hamburgers. To have a perfect product launch in India, the company replaced beef with chicken to conform to the traditions and cultures of the country ( Panwar & Patra, 2017) . The company as its products available to many Americans as it has a significant presence in our cities and towns. As such, the company’s awareness of the demands of its customers has enabled it to provide the perfect products which improve its position in the market. 

Delegate your assignment to our experts and they will do the rest.

Product pricing in McDonalds follows bundle and optimal pricing strategies ( Meyer, 2018) . Under bundle pricing, customers can buy products in combos at an affordable price. Customers have the chance and option to get more products which they could have otherwise had to spend more to acquire if they were to buy them as singles which increases product sales. On the other hand, optimal pricing gives customers the freedom of enjoying ordering for ‘extras’ which can be added to their main products of choice. In that scenario, a customer can spend and have their products and services served and offered to them at affordable prices in a single order saving them money. Again, most of McDonald’s products are relatively cheap compared to the company's competitors thanks to optimal and bundle pricing. Having optimal prices and different payment methods such as cash and use of Visa Cards has ensured that the company maintains a healthy position in the market ( Panwar & Patra, 2017) . 

McDonalds’ utilization of online platforms where customers have different ordering and delivery methods and can get their products from different outlets outlines how the company has been successful in evaluating product placing as a strategy ( Meyer, 2018) . Customers who cannot make it to McDonald’s main stores have the option of getting the products they need from stores the company has partnered with. The company’s presence in over 100 countries shows how the company has been able to bring products closer to its customers. To ensure success in its choice of place for its outlets and product placing, the company has utilized the use of company-owned outlets as well as franchising to complement their already existing online platform. McDonald’s outlets are also placed in easily accessible places such as parks and gas stations ( Panwar & Patra, 2017) . Thus, customers do not need to travel further in search of the company's iconic outlets thanks to the company employing the use of open spaces. 

McDonalds has raised its bar in creating awareness for its materials. Digital channels, BTL, and ATL have intensively used in product promotions ( Meyer, 2018) . In essence, the idea of promotion mix follows McDonald offering products to customers in a way that the said products have been familiarized with potential customers and how such products appease the customers. TV commercials, print media, and online platforms such as the company’s website have helped the company to reach out to its customers ( Panwar & Patra, 2017) . The iconic company logo has been changed several times throughout history. However, the company has maintained the iconic M on its outlets and the packages of its outlets. That has made the products and outlets more identifiable to both potential and frequent customers. 

References 

Meyer, P. (2018). McDonald’s Marketing Mix (4Ps) Analysis - Panmore Institute . Panmore Institute. Retrieved 28 May 2020, from http://panmore.com/mcdonalds-marketing-mix-4ps-analysis. 

Panwar, D., & Patra, S. (2017). Localization in Fast Food industry: A case study on McDonald’s strategy in India. Journal of Arts, Science & Commerce , 8 (1), 70-74. 

• Communicating Using Social and Digital Media In the American market
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