4ps of marketing essay

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.

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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.

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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.

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• 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.

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The 4 Ps Of Marketing

Updated: Jun 18, 2024, 8:52am

Table of Contents

What are the four ps of marketing, the first p: product, the second p: price, the third p: place, the fourth p: promotion, examples of the four ps in marketing, how to use the 4 ps of marketing, what’s the difference between the four ps and the seven ps, frequently asked questions (faqs).

The four Ps of marketing—product, price, place and promotion—serve as a framework for marketing success. Sometimes referred to as the marketing mix, the four Ps help guide businesses in the creation of winning business ideas that deliver what customers want, where and how they want it at a price that’s most appealing.

Building a solid marketing plan structured around the four Ps can help you increase awareness for your brand and its products or services, drive sales and achieve overall stronger bottom-line results.

The idea of a marketing mix was first popularized in the 1950s by Neil Bordon, a Professor of Advertising at Harvard. Drawing from Bordon’s work along with the work of other prominent marketing and business leaders, E. Jerome McCarthy introduced the four Ps of marketing in his book Basic Marketing: A Managerial Approach .

You may recall from your Intro to Marketing college course that product, price, place and promotion are the four Ps of marketing. While the four Ps have been around for decades, the concept is just as relevant to businesses today as it was when the four Ps were first introduced.

The first P in the four Ps of marketing is product. A product can come in a variety of forms, such as a physical product, digital product, service, event or experience. The product is the actual item you are selling; the features or attributes you include or build into your products can help you differentiate your offerings from your competitors.

There are many dimensions that you must consider when deciding which products to develop and sell. Does your product solve a problem? Or does the product fulfill consumers’ wants and desires? Why would someone want to buy it? Product quality, design, packaging, variety, adaptability, sustainability, safety and production must all be considered.

Your marketing plan should outline the key features of your product, what makes it unique and who your target audience is for that product. This will help ensure you meet the needs and desires of your ideal audience.

The second P in the four Ps of marketing is price. Naturally, you need to price your products in a way that allows you to operate profitably. However, pricing is far more complex than calculating the cost of goods and adding on an additional amount that will let you meet your desired profit margin. How you price a product will convey its relative value and quality.

Walmart uses low-cost pricing to attract a broad audience of value-driven shoppers, while Saks Fifth Avenue sustains much higher prices, which is common among luxury goods sellers who target wealthy buyers. If you decide to serve different types of customers, you’ll need to develop a customer segmentation strategy , which will include pricing strategies for each segment you serve.

There’s also a psychological factor in product pricing, which is why products are often priced at $9.99 rather than $10. Products with prices ending in .99 seem cheaper than those that end in zero, and hence more shoppers are drawn to the $9.99 price tag.

The third P in the four Ps of marketing is place, which refers to the channels or locations where you sell your products and services.

You may want to sell products via a brick-and-mortar store or at less permanent physical locations, such as special events, fairs, pop-ups or temporary markets. Or, you may prefer to list your products for sale via an e-commerce software —by either building your own e-commerce website or by selling through popular online marketplaces such as eBay, Amazon or Etsy .

Where you sell your products will influence how you manage product inventory and product transportation or shipping. Location also influences the relative size of your reachable market. Some businesses find they can optimize sales by offering goods and services via multiple outlets.

The fourth P in the four Ps of marketing is promotion, which is how you get the word out about your products and what tactics you use to convert prospects into buyers. Your promotion strategy may include advertising, public relations, social media marketing, content marketing, direct marketing and influencer marketing, as well as the discounts and special offers you extend to generate sales.

Even the best product in the world doesn’t stand a chance if you don’t have a strong promotion strategy behind it. While there are some promotional tactics that can be done on a shoestring budget—such as do-it-yourself blogging and social media—others can be costly. It’s important to factor anticipated promotional costs into your product pricing strategy.

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Understanding the four Ps is the first step in creating a strong marketing mix. Knowing how to execute the four Ps correctly is key to achieving success. Let’s look at examples of how different organizations use the four Ps in different ways.

Examples of Product

The music industry offers many examples of how related products are sold in different formats––from physical products to digital downloads to digital streaming to live events.

While compact discs—a physical product—are no longer the norm, they are still available in some brick-and-mortar locations as well as in online marketplaces. Vinyl albums are making a comeback among certain audiophiles, which is a reminder to consider your audience’s specific interests when designing your product.

The popularity of various product formats can change as new technologies emerge. There was a time when you needed an Apple iPod or similar device (i.e., “product”) to listen to music online. Now you can use just about any internet-enabled device to purchase music via digital downloads, or you can subscribe to popular subscription-based audio streaming sites such as Spotify, Pandora and Apple Music, which grant you access to millions of songs.

Live performances are another popular music product—just ask any Taylor Swift mega-fan about the magic of scoring a ticket to one of her sold-out concerts. Of course, when you attend a live event, you will find there is plenty of physical music merchandise to purchase—from T-shirts to pins to caps and hats to collectible programs.

Examples of Price

You can buy a watch for under $100 or spend $100,000 or more; both watches will tell you the time. The price a person is willing to pay for a watch says a lot about their means, interests, style and quality preferences and what they value in a timepiece.

Chanel, Dolce & Gabbana, Versace and Armani all sell high-priced clothes, jewelry and accessories. Yet, what these brands are actually selling is a luxurious lifestyle. The premium prices these luxury brands charge reflect quality and exclusivity; their target audience has the means to purchase the products and the desire to live a rich life.

Old Navy, meanwhile, targets budget-conscious shoppers with its everyday modest prices and regular promotional discounts. Dollar Tree is an example of a brand that appeals to lower-income consumers and those seeking extreme values. Dollar Tree, which has had to raise average product prices up from $1.00 to $1.25, has seen profits surge in recent years.

No one magic price range will produce exceptional results for all product lines. When pricing your product, you must consider not only the cost to produce the item but who your ideal buyer is and what they’re currently spending on the products they purchase.

Examples of Place

Today’s businesses have more options and flexibility in places to sell their goods and services. The best point-of-sale (POS) systems and credit card readers let you accept payments from nearly anywhere.

You used to need a brick-and-mortar building to open a restaurant, and now budding restaurateurs and bakers can sell their edible creations via food trucks, pop-up events or shared kitchens.

Artists and crafters can sell their goods via their own galleries or display their works at others’ galleries. Artists also sell art online via their own websites or popular online marketplaces such as Creative Market, Etsy, Amazon Handmade and Fine Art America. Art and craft fairs are growing more popular, as are festivals and pop-up markets that invite artisans to showcase their work.

Many businesses start by selling their products online or via a retail location and then expand to other outlets once sales grow. A multi-location strategy is often the best way to boost your product sales.

Examples of Promotion

If you want your business to be successful, you must find ways to promote your business effectively. Some promotional efforts—such as national paid advertising—require a relatively large promotional budget, which is feasible for mega-brands like McDonald’s, Amazon and Toyota, but can be difficult for smaller businesses.

Examples of promotions that work for small businesses include creating a business website where you offer discount coupons and promote current sales. You can also ask customers for their email addresses and use email marketing software for ongoing business promotion. If you have a brick-and-mortar business, consider placing attention-grabbing banners, flags or a blow-up character in front of your business to draw the attention of those passing by.

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Other types of promotions can work for a wide array of businesses, such as customer loyalty programs. Kohl’s loyalty program, called Kohl’s Rewards, gives members cash back each month based on their spending. Since Kohl’s requires you to submit your contact information to join the program, the company can use that information to regularly email you to tell you about current sales and new products.

Think of the four Ps of marketing as your road map for introducing and launching successful products and services. Your marketing strategy should include extensive details on how you intend to approach each of the four Ps.

For example, when developing your product, consider what’s already available and what features you can embed in your product to serve a need or solve a problem better than any other available product. How will your product stand out in a crowded marketplace? Also, think about who your ideal audience is and what they value most.

When developing your pricing strategy, don’t just consider the price point where you make a sufficient margin. Be sure you understand your ideal customer’s sensitivity to pricing. Is this a luxury item? Then deliver the quality that appeals to high-end buyers at a price point that affirms luxury and exclusivity. Are you providing the best value on the market? Then use a value-based pricing model.

Placement is also key. Where does your target market already go to purchase similar products—online, in specialty retail stores, big-box stores, discount stores or elsewhere? It’s important to place your products where your ideal clients already shop, which may mean placing them in multiple sales channels.

Finally, give special attention to how you promote your products. Your promotion strategies must be compelling and give you maximum reach for your promotional dollars.

How and where you choose to promote your product needs to align with the type of customer you are pursuing. The promotional choices you’ll select for more traditional middle-aged suburbanites will be considerably different than those you’d use to appeal to members of Generation Z. Always make sure your advertising choices and messaging align with who you’re targeting.

While the four Ps came first, you may have also heard of the seven Ps of marketing, which rose in popularity in the 70s and 80s. The seven Ps include the original four Ps plus people, process and physical evidence.

The fifth P refers to the people within your organization who work together to create an exceptional experience for your customers. You can differentiate your business from competitors by creating a customer-centric culture that consistently delivers a memorable, high-quality customer experience.

If you are a service-based business, it’s vital that you pay close attention to the people you hire to interact with your customers. Bad reviews on Google Reviews or Yelp can put you out of business.

The sixth P, process, is how you get your product to the customer. Is it easy and seamless to purchase from you, or are there barriers that make the buying experience difficult or issues with your shipping or delivery system that negatively impact the experience?

For example, did you ship a product to an environmentally conscious customer via a styrofoam container—or did you use sustainable, eco-friendly shipping and packaging methods? Make sure the processes you use make sense for what you’re selling and who you’re selling to.

Physical Evidence

The seventh P, physical evidence, involves things that enhance or detract from the shopping or purchase experience. Physical evidence includes branding and packaging.

When a physical environment is involved—such as in a retail store, restaurant or service office—physical evidence includes the layout, ambiance and overall aesthetics of the physical location that contribute to the impression you make on prospects and customers.

What are the seven Ps of marketing?

The seven Ps of marketing—sometimes referred to as the marketing mix—include product, place, price, promotion, people, physical evidence and process.

Which of the four Ps of marketing is the most important?

Many consider the product to be the most important of the four Ps of marketing. That being said, even excellent products can only be successful if a business strategically deploys all vital aspects of the marketing mix, including the remaining three Ps: place, promotion and price.

What are the marketing four Ps and four Cs?

The four Ps of marketing are product, place, price and promotion. In an article in Advertising Age , Bob Lauterborn introduced the four Cs, which he stated was a more customer-centric marketing model. The four Cs are consumer, cost, convenience and communication.

What is the purpose of the four Ps of marketing?

The purpose of the four Ps of marketing is to help businesses create a viable, complete strategy for selling goods and services. The four Ps are essential pillars for success that can help you drive better results when launching any product or service.

What’s the difference between the four Ps and the seven Ps of marketing?

The seven Ps include the original four Ps—product, price, place and promotion—plus people, process and physical evidence.

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Janette Novak is a freelance journalist and consultant who specializes in teaching online business and small business marketing. Previously, Janette owned a boutique marketing agency and served as a Chief Marketing Officer for a leading professional training services provider.

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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, example of the four ps of marketing, how does apple use the four ps of marketing, 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 or marketing are a “marketing mix” comprised of four key elements—product, price, place, and promotion.

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.

To put this into perspective, let's consider a fictional skincare company that produces organic skincare products. Here's how the four Ps might be utilized:

• Product: The company offers a range of organic skincare products, including cleansers, moisturizers, and serums. These products are formulated with natural ingredients, free from harsh chemicals, and designed to promote healthy and radiant skin.
• Price: The pricing strategy for these skincare products is positioned as premium, reflecting the high quality of ingredients and the company's commitment to sustainability and ethical sourcing.
• Place: The products are sold through multiple channels, including the company's website, select retail stores specializing in organic products, and high-end spas and salons. This distribution strategy ensures accessibility to environmentally conscious consumers seeking natural skincare solutions.
• Promotion: The company's promotional efforts focus on emphasizing the benefits of organic skincare, such as nourishment, hydration, and skin rejuvenation. This includes social media campaigns, influencer partnerships, and educational content highlighting the importance of using non-toxic products for skincare routines.

Apple utilizes the four Ps of marketing by focusing on:

Product innovation: Evident in its continuous development of cutting-edge technology like the iPhone, MacBook, and Apple Watch.

Pricing strategy: Apple often positions its products as premium offerings, targeting a more affluent consumer base.

Place: Apple emphasizes distribution through its own retail stores, online platforms, and strategic partnerships with authorized resellers.

Promotional efforts: Apple emphasizes sleek design, user experience, and aspirational branding, creating a sense of exclusivity and desirability around its products.

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.

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.

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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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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• Publication date: Jan 25, 2023
• Location: Houston, Texas
• Book URL: https://openstax.org/books/principles-marketing/pages/1-unit-introduction
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Marketing Mix 4ps of Nike Company

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The 4 P’s of Marketing Mix and how to master it in today's world (updated with example and template)

This article addresses how to use one of the oldest marketing concepts in today's online world: "The Marketing Mix," which is based on the 4 P's: Product, Price, Place and Promotion.

If you’re ready to take your marketing seriously, you’ll need to start with a marketing plan. A classic marketing concept called “The Marketing Mix” or “The 4 P’s” of Marketing is a perfect place to start.

The original concept of the 4 P's marketing mix

The original marketing mix, or 4 P's, as originally proposed by marketer and academic Jerome E. McCarthy , provides a framework for marketing decision-making. Effectively summing up the 4 pillars of the business cycle, McCarthy's marketing mix has since become one of the most enduring and widely accepted frameworks in business.

The essential base ingredients of the 4 P’s are: Product , Price , Place and Promotion . While this combination doesn’t appear to be rocket science, a company’s ability or lack thereof to embrace and implement the 4 P’s can make all the difference between thriving and failing as a business.

Each of the 4 P’s build upon and interact with one another, and are governed by both internal and external factors within the business itself, and our ever-changing marketplace. The 4 P’s of marketing primary purpose is to help us take into consideration potential roadblocks to widespread product adaptation and ongoing success.

So let’s get to them, shall we?

4 P's of marketing in simple and familiar terms:

A PRODUCT is a service or good offered to meet consumer interest or demand. It could come in the form of occupational therapy or a fidget spinner - choices are only limited to the imagination, BUT, are highly dependent on marketplace curiosity or need.

PRICE is the cost people pay for a product. This includes base costs (materials, manufacturing, and shipping) plus expenses (rent, office supplies, healthcare, etc.). While you should always look to the competition, a smart business will tap into what people will actually pay for it. That's the only thing that counts. If you can't rise above your bottom line and make your target profit, then it’s a losing proposition.

PLACE is the “home” where the product resides, and that “home” can live in many different channels, such as a physical store display, a newspaper, radio or TV ad, or a website or blog spotlight. Really, a place is anywhere you can get your product in front of your target customers that compliments your budget, including the price point.

PROMOTION is product exposure and public relations efforts via advertising (through the channels mentioned above) as well as word of mouth, direct mail, email marketing and social media. Promotion is a communication tool that encapsulates the first 3 P’s by putting the right product in the right place, at the right price, at the right time, with the goal of it being irresistible to customers.

The 4 P's example and template for a service business

The Marketing Mix of “HVAC Plumber” reflects a real life example of how a service company covers the 4 P’s (Product, Price, Place, Promotion) in their marketing strategy.

“HVAC plumber” (a fictitious company) provides heating and cooling services in the Chicago Metropolitan Area.

HVAC Plumber marketing mix elements strategy and example:

HVAC Plumber offers industry standard services, but also innovates to provide more value to our customers and captures more of the market. We are insured, licensed and provide warranties for our work. Our high quality services and focus on a pleasant customer experience helps us get repeat clients, referrals, and builds our reputation. Also, our motto is: “Leave the place cleaner than we found it” - so you’ll always see us with a broom in our hands before we leave.

At present, the following are the main categories of HVAC Plumber products:

• Furnace installation and repair
• Water heater maintenance, installation and repair
• Air conditioning installation, maintenance and repair
• Complete plumbing system design and installation
• Drain, sink and toilet unclogging and jet rodding and repairs

Our extra value added products:

• Emergency services
• Indoor air quality testing services
• Air duct and dryer vent cleaning services
• Warranty services
• Equipment sales

Our reputation and successful marketing generates more demand than we can handle, so it allows us to charge premium for our services. We train our service technicians to upsell our other services. We also have a customer loyalty program in place to reward our long-term clients with better rates and provide coupons to first time clients. We also seek partnerships with organizations such as: homeowner associations, insurance companies, builders and general contractors, and offer exclusive pricing options based on quantity.

The company has offices in downtown Chicago, but walk-in customers are unusual. We are physically represented by our company vans, uniforms and warranty stickers. We consistently attend industry trade shows, and belong to the Chicago Chamber of Commerce.

We nurture partnerships with our equipment vendors, participate in their trainings, and have certifications, which allow us to be listed “licensed technicians” on their websites. We serve the Chicagoland Area, which is about a 30 mile radius from our warehouse, but we do make travel exceptions for long-term clients and bigger projects.

Our company website is the most important communication tool, and is a place where our clients learn about our services and make initial contact. We invest a great deal of money and time to keep it updated and useful to our audience. We plan to expand our website to include ecommerce and make some of the package services, equipment and accessories available for purchase online. None of our competitors are doing this at the moment, so we’ll take advantage of being pioneers in this regard.

Most new business comes through our website and we focus all of our promotion efforts to drive more traffic to it. Our promotional mix is as follows:

• Search engine optimization
• Paid traffic
• Social media marketing
• Content marketing
• Email marketing

Our value proposition statement

HVAC Plumber is an industry-leading HVAC and plumbing service provider serving the Chicago area since 1999. We specialize in new installations, repairs, and 24 hour emergency services.

Start with 4 P's of marketing template

Check out our 4 P's of marketing template to help you work through your first few ideas.

But why stop there?

The 7 P’s of marketing mix

Since the inception of the original 4 P’s of marketing, marketing experts have expounded upon the mix to include three additional P’s to enhance brand exposure and sales performance.

These additional P’s include: People , Process and Physical evidence .

PEOPLE have always been at the epicenter of the business world. Whether it’s the company visionaries, the movers and shakers, or the daily doers, unless (or until) commerce is fully automated, you’re only as good as the people who keep the business operational and flowing. And believe you me, customers are quick to notice when there’s a glitch in the matrix.

PROCESSES ensure consistent service delivery to every customer, at any time of day, on any given day. And, a successful business incorporates scenarios where customer preferences can be accommodated to provide them a unique experience.

PHYSICAL EVIDENCE – Almost all services include physical proof of a transaction, even if the bulk of what the consumer bought isn’t tangible. It’s something the customer can hold onto and recall about working with you. Physical evidence also describes consistent branding across communication channels.

How can you actually use this?

How the 4 P’s apply in today’s online marketing

The how’s and why’s of how we approach marketing have become much more dynamic since the inception of the internet. However, the driving factor is still and should always remain: PEOPLE. Actually, it’s more about people than ever before. Having an honest marketing approach has never been more important and is both emotionally and financially rewarding if you do it right.

PRODUCT and how it lives online versus the shelf

It seems like not much has changed as far as the product or services goes, right? Wrong. No matter what type of product you offer, the landscape shifted majorly to the consumer benefit. The majority of customers now prefer to shop online, and perform in-depth research before making their buying decisions.

Besides the original, product-related marketing factors such as: product quality and design, branding, packaging, returns and guarantees, in your marketing plan, you should also consider NEW factors.

User-centric customer support - your product now has a digital voice. And it must talk to your audience and be both personalized and timely. Not only across all the common channels such as phone or email, but also should be proactively involved in social media. Resource: Social media customer service 101: the beginner's guide

New PRICING models to consider

Pricing your product or service is never an easy task. It sure helps if you can find a unique product positioning on the market, otherwise you fall into price comparison wars with your competition. And, to compare prices has never been easier than today. The original Marketing Mix suggests considering pricing strategy and tactics, discount structure, payment terms and options for both customers and distributors.

Competition pricing research - this is an in-depth review of the pricing models of your direct competitors. In comparing products, you should focus worldwide. With local services, of course, should compare within your own service area. Remember that you don’t have to anchor your pricing based on competition, but it helps to know the market.

Shipping and handling strategy - it’s not an obvious, but very important factor in online sales conversions no matter the item price. Offering free shipping is one of the most effective purchase incentives. Resource: How to offer free shipping and still make money

"9 out of 10 online shoppers consider free shipping as one of the main reasons why they shop at a particular online store. To offer free shipping is not a new thing, thanks to Amazon it became essential running an online store. The main question now is how to make it profitable. It looks impossible, but with the right approach - offering it most, not all, of the time, setting a flat shipping or order threshold, it is possible."

Diana Bukevicius - Scube Marketing

Product positioning - I know I’m repeating myself, but I have to. Positioning is strongly engraved into each pillar of The Marketing Mix. As far as pricing goes, having strong niche positioning eliminates the number of competitors that your product or service can be compared with and it opens up an opportunity to go for value pricing . Resource: Everything you need to know about pricing

Upsell strategy - this is an underestimated source of cash flow. It’s always easier to sell to the people that already bought something from you and were happy with the product. It can be an additional items or warranties, maintenance or a product upgrade.

PLACE for marketing is now on the mobile screens

Back in the 1940’s “place” was all about brick and mortar. Location, distribution, and logistics are still part of the process, but it heavily shifted from the marketing department to operations. No doubt you’ll boost sales if your product gets featured in physical Walmart stores, but you also can sell at Walmart Marketplace online with way less effort for the approval process. Same goes for Amazon. Online selling has undoubtedly taken over as the place to peddle your wares. Resource: How to sell on Walmart marketplace in 7 easy steps

Website - this is by far your most important marketing piece. It’s your 24/7 storefront and your sales rep that never sleeps. Any marketing efforts that you take will end up on your website. I mentioned 3rd party sources like Walmart Marketplace or Amazon, but I still highly recommend you focus on your own website first and use other sources as secondary. Why? Because you own it and you control it.

Any 3rd party retailer could change their policies tomorrow and you might be out of business. Plus, websites grow more powerful over time if supported by thoughtful and consistent marketing decisions. When you build your website, the decisions on design, structure and content should be made based on your promotional strategies.

3rd party platforms - Your audience is on or a few of these platforms already. Identify those platforms and utilize them. It can take the form of direct eCommerce platforms like Amazon, or it can be social channels like LinkedIn or Facebook etc.

PROMOTION is in your inbox

Search engine optimization (SEO), social media, email marketing and paid search. I hear that Super Bowl ads are worth their weight in gold, but if you can afford a Superbowl ad, you are on the wrong blog!

Jokes aside, make sure your marketing strategy is built around driving traffic to your website and converting it to leads or sales.

Traffic generation - getting targeted visitors to come to your website is the ultimate #1 goal. There are numerous ways you can achieve that, and they’re all worth considering:

Search engine optimization (SEO) - is the practice driving traffic to your website through organic search engine results by optimizing (making relevant) your website for targeted keyphrases. SEO is an ongoing process that requires patience and consistent efforts.

Paid search - in other words - “bought traffic.” Platforms like Google AdWords, Bing Ads or Facebook Ads allows you to buy highly targeted traffic in an auction-type of fashion. It’s typically based on “per click” pricing, where each visitors cost you x amount of dollars.

Social media marketing - is the process of gaining traffic or attention through social media sites. If you sell to people then it’s a great idea to invest time and effort (and sometimes money) into one or several social media sites. That’s where the people hang-out these days. Resource: Welcome to the beginner's guide to social media!

Email marketing - is the modern equivalent of oldschool direct mail, I believe. Even if one more email in our inbox is the last thing we want or need - email is still one of the best performing marketing tools. Resource: A beginner’s guide to successful email marketing Resource: A comprehensive guide to email marketing platforms

Conversion rate optimization - converting website visitors into leads is the ultimate goal #2 to achieve. Firstly, to be able to calculate conversions you need to have Google Analytics or other tracking system integrated to your website. Conversion rate optimization are an ongoing process where you optimize your website and measure the outcome looking for the optimal version of each page. Resource: Conversion optimization made simple: a step-by-step guide Resource: Learn Google Analytics with free online courses

2 extra P’s from Angle180

The team at Angle180 takes the “4 P's of marketing (Plus 3)” two steps further, to include Positioning and Positive Reviews.

Positioning - again and again. Positioning is a fundamental piece of your marketing plan and your overall business success. Essentially, if you answer all the questions related to each P you’ll arrive to your business positioning statement.

Positioning is how you differentiate your product or service from your competitors in your niche market.

A good positioning statement is the first thing people read when they visit your website. Typically, it’s a 7-10 word sentence on your Home Page that succinctly answers:

There’s a science behind positioning, and it’s wise to research how others in your field describe themselves.

Positive reviews - positive online reviews are pretty self explanatory, but I recommend creating a strategy for collecting positive reviews, as well as dealing with negative ones.

Unfortunately, it’s human nature to take positive experiences for granted and feel revengeful about the negative ones.

Reviews definitely affect local search rankings and customer buying decisions.

Local consumer review survey by BrightLocal reveals the importance of reviews:

97% of consumers read online reviews for local businesses in 2017

85% of consumers trust online reviews as much as personal recommendations

49% of consumers need at least a four-star rating before they choose to use a business

Responding to reviews is more important than ever, with 30% naming this as key when judging local businesses

4 P's of Marketing Mix in a slideshow presentation (PPT) and downloadable PDF

Here is a PDF version of 4 P's of marketing presentation.

Our conclusion? The original 4 P’s of the marketing mix withstand the test of time

There is one common trait to all classic things - they never get old or obsolete. So, even with all the changes that technology has brought us, the 80 year concept of The 4 P’s of marketing mix are still relevant and applicable today. Marketing platforms and tools have certainly changed, but the foundation is rock solid. And, let’s hope it always remains personalized and people-driven.

I'm Sarunas Budrikas, CEO of Angle180, a B2B marketing company delivering results through high performance web design and traffic generation.

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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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Product: Beyond the Physical

Price: Strategic Considerations for Competitive Edge

Promotion: crafting effective communication, place: accessibility in the digital age, netflix's strategic implementation of the 4 ps, conclusion: the impact of strategic marketing.

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