4Ps of Marketing:

What They Are &

How to Use Them
Successfully
 The four Ps of marketing are:
• Product: Refers to the actual item or service being
offered.
• Price: Determines how much the product or
What Are service will cost.
• Place: Refers to the distribution channels and
the 4 Ps of where the product is available.

Marketing? • Promotion: Involves advertising and other

methods to promote the product.
• These are the key factors in
introducing a product or service to the
public.
• Often referred to as a marketing mix,
 • Neil Borden, an
advertising professor
at Harvard, popularized
the idea of the

What Are marketing mix—and

the concepts that

the 4 Ps of would later be known

primarily as the four

Marketing? Ps—in the 1950s.

• The four Ps were
introduced in the
1950s, more Ps have
been added to the mix,
including people,
process, and physical
evidence.
What are 4Ps of
Marketing
• All four Ps work together to
achieve customer satisfaction
and meet the organization’s
goal.
Product
• The term product refers to the tangible products as
well as services
• The cornerstone of any business.
• The product should be:
• Strong
• Easy to articulate
• Adding value to the market
• A product can be:
• A service
• A level of quality
• The way you conduct business
Product

• 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 marketer’s job 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.
Pruduct
• Creating a marketing campaign starts
with an understanding of the product
itself. Who The product type also
dictates 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 to
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.
Place
• Place can mean the physical “place“ where
you intend to sell your product.
• Place can also mean the product’s “place” in
the market
• As a business owner, consider what “proper
placement” is.
• What segment in the market should be seeing
your product first?
• Logistics, timing, and planning based on the
supply chain are key factors in ensuring that
the customers can physically get to the
product
• Poor placement can hurt sales, even if you
have great products.
Price
• Price is the amount 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.
Promotion

• 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.
Explicitly, 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.
How To Use the 4 Ps of Marketing
in Your Marketing Strategy
• 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.
How To Use the 4 Ps of Marketing
in Your Marketing Strategy
• Placement involves identifying the type of store, online and
offline, 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.
When Did the 4 Ps Become the
7 Ps?
• 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.
What Are Some Examples of
the 4 Ps of Marketing?
• The product a company provides depends on its type and
what it does best. For example, McDonald's provides
consistent fast food in a casual setting. Although it may
expand its offerings, it doesn't stray far from its 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 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 for successfully introducing or
reintroducing a product to the public.
The Bottom Line

• 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.
Thank you.