The Four P’s of Marketing

Guest post contributed by Heather Smith.

If you do not know what the four P’s of marketing are – you are not alone.

There are many people who do not understand the basic relationship that makes up successful marketing. The four P’s were originally created as a marketing mix. Having a marketing mix is often fundamental when forming a product or brand’s unique selling point i.e. the unique quality that makes a product different from its competitors.

The term marketing mix was originally created in an article written by Neil Borden called “The Concept of the Marketing Mix.” He became aware of the term after he heard about if from an acquaintance, James Culliton, who in 1948 designated the role of the marketing manager as a mixer of ingredients.

Getting to the point, a proper marketing mix allows your product or brand to achieve the highest sales and recognition it possibly can. Like having a balanced meal makes you as healthy as possible, having a balanced marketing mix helps to make your product or brand as profitable as possible.

The four P’s that make up the marketing mix are: price, product, promotion, and place.

  1. Price

    The price is the amount of money a customer pays for the product or service. The price is very significant as it governs the company’s profit and therefore existence. Modifying the price has an intense impact on the marketing strategy and, contingent on the price elasticity of the product, it will frequently affect the demand and sales as well. The price that the marketer sets should balance the other elements of the marketing mix.

  2. Product

    The product is the simplest idea. It is an item or service that fulfills what a consumer needs or wants. Your product can literally be anything, even an idea. You must have a concrete grasp on what the product is, however, before you can successfully market it.

  3. Promotion

    Promotion can be all of the methods of communication that a marketer may use to deliver information to various people about the product. Promotion is made up of things like: advertising, public relations, personal selling, viral and word-of-mouth, and sales promotion. Promotion is essentially how you get the word out about your product or service.

  4. Place

    Place is all about providing the product at a location which is convenient for consumers to access. Today, that is frequently online. Place also has a lot to do with distribution, or getting the product to the customer. Several approaches such as intensive distribution, selective distribution, exclusive distribution and franchising can be applied by the marketer to match the other parts of the marketing mix.

The four P’s can help you become a better marketer by understanding the simplified balance of marketing products or services. Once you have a good understanding of these four aspects, you can have more success in marketing your products or services.

Comments

  1. Kief says

    Great article! Perhaps a 5th “P” is for positioning in terms of product A vs. product B in the consumer’s mind.

    Though in 1948 I suspect distribution was a key driver…probably less so today for most brands where so many are quite interchangable.

  2. says

    If I can be picky I believe the standard 4P’s is generally attributed to Philip Kotler who wrote the standard textbook on marketing – Marketing Management

    A great book that I first used in 1971 as a standard text for my marketing degree and well worth a read. I see its now in its 14th edition

    Regards

    Nick

  3. says

    I would have added “People” to the list as well. No sense pitching a product to people who aren’t interested. Know the people who make up your audience.

  4. Moe says

    The 4 P’s of marketing? This is definitely a broad, generic and incomplete way of looking at marketing.

  5. says

    It’s always a breath of fresh air to stop by Rosalind Gardner’s blog and read educational blog posts on how to make the best of online marketing. Thank you for just being you, Ros. And, great job on writing the blog post, Heather! (smile)

    :-)

  6. says

    A great article Heather – Thanks

    Another “P” that could be added to the list is perseverance.

    Marketing can be tough – especially online, and I have known many people who have quit, right before I think they would have made it.

    Sometimes when marketing is concerned a little “perseverance” is needed.

    Clare

  7. says

    Official 4 p’s of marketing song by RaKalid

    Official 4 P’s of Marketing Rapgenius.com.rakalid

    [Intro]
    Marketing is, how I see you
    Marketing is, How you see Me

    [Verse 1: RaKalid]
    The problem with fact is they all about the image
    I’m a lyrical physician Integrated vision
    Dedicated intuition I do it, I don’t wish it
    Initiate the mission execute it with precision
    An a whole lot of rhythm, Don’t ever tell a lie
    Thats an automatic given On the fly;;DON’T LIE!
    It takes just a second to ruin your whole lifes living
    Be the one listen thats an executive decision
    Remember the 4 p’s? Excuse me That wasn’t suppose to happen
    But it did, now let’s get back to business Alright
    Let me break it down
    First you need the PRODUCT
    Then you find a PLACE
    Sell it for a PRICE
    That’ll earn you free PROMOTION
    First you need the PRODUCT
    Then you find a PLACE
    Sell it for a PRICE
    That’ll get you free PROMOTION
    Four P’s of Marketing
    Product, Place, Price and Promotion

    Official 4 p’s of Marketing Song
    Arizona State University
    W.P Carey School of Business
    ASU Spring/Fall 2012

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