The 4 Ps of Marketing: What They Are and How to Use Them

The 4 p’s are a concept from the business world that helps you define your business offerings and create the best individualized marketing strategy possible.

Promotion: the case you make for your goods and services through advertising, pr, and other marketing channels. This is the fun p. Promotion includes concepts such as brand awareness, influencers, social media marketing , sponsorships … basically any interaction that your company has with the consumer regarding your product. In many ways, promotion allows for more creativity than any of the other p’s. Just think: radio jingles , sweepstakes , street teams , the oscar mayer wienermobile… all promotional innovations. Promotion is closely related to place in the marketing mix. The difference between the two is that place is more about passive visibility, while promotion is more about active communication.

The “classic” 4 p's of marketing – price, product, promotion, and place – were introduced in 1960 and had a long, virtuous run. However, sean macdonald, chief digital officer at mccann worldwide, now argues that changing millennial and gen z consumer behavior is making these 4 p's obsolete. He has proposed  a new set of the 4 p's of marketing: partnerships, personalized, positioning, and purpose. “partnerships” is one of the new 4 p’s of marketing. And to no one’s surprise, we wholeheartedly agree with sean! we keep hearing similar sen time nts from our network and customers as well.

By berta campos , on 24 august 2021 we all know that the quality of marketing decides the success of a product, but have you ever asked yourself what the key elements to a successful marketing strategy are? in this article, we will go over some basic concepts and take a look at what you need to know about the marketing mix and the 4ps of marketing.

What are the 4Ps of marketing? (Marketing mix explained)

You’ve done your market research. You’ve learned about the history and life-cycle of products like yours and the trends and key drivers that determine where your products or services “fit in the industry” now it’s time to distill your research findings into a concentrated effort to generate a product that reflects your business goals and objectives while providing solutions (price, packaging, convenience) for the customer. Under the old marketing model, we sold what we made or produced. Under the new model, we must sell what the customer wants. The old marketing mix looked at the 4ps of marketing - product, price, place, and promotion.

If you put your focus on the original 4 p’s of marketing, you can use those elements as a guide to determine how to bring something new to the marketplace. Additionally, you can use these elements to help give your current marketing strategy a challenge. Breaking down the elements in a nutshell, you can follow these steps to create or improve your marketing mix. Choose a product or service you want to evaluate. Review the questions related to the 4 p’s and answer them (in other words; what is the product? where will you be selling the product? what is the price of the product? how will you promote the product?).

Marketing theory emerged in the early twenty-first century. The contemporary marketing mix which has become the dominant framework for marketing management decisions was first published in 1984. In services marketing, an extended marketing mix is used, typically comprising 7 ps ( product, price, promotion, place, packaging, positioning and people), made up of the original 4 ps extended by process, people and physical evidence. Occasionally service marketers will refer to 8 ps (product, price, place, promotion, people, positioning, packaging, and performance), comprising these 7 ps plus performance. In the 1990s, the model of 4 cs was introduced as a more customer-driven replacement of the 4 ps.

The 4 ps of marketing were developed in the 1960s and are still relevant today. Discover why the 4 ps are crucial to your marketing mix. If mad men advertising guru don draper was teleported to the 2020s, there’s much about advertising and marketing he wouldn’t understand – global branding, big data, social media influencers, anything to do with the online world. Back in the 60s, there was no online world. But there is one concept he’d recognise like an old friend or the bottom of a whisky glass: the four ps of marketing. The four ps of marketing were developed back in the 1960s and have stood the test of time, to such a degree that they are still considered the cornerstone of every campaign and the backbone of every marketing mix.

Google Digital Marketing & E-commerce

We’re in an age where digital marketing reigns, opening the door for marketers to take advantage of one bonus p: personalization. With digital marketing, we can supercharge our marketing tactics with sophisticated marketing and personalization. All of this data alters our perception of the 4 p’s. We have ecommerce now — an entirely new type of “place” to sell products. We know more about our customers than ever before. But personalization doesn’t just exist from a robotic, data-driven perspective; it changes the humanity of our marketing (when used well). It’s more than inputting a [name] field in your next email send, or merely pushing out a geo-targeted ad.

Meta Social Media Marketing

Similar to the original 4 ps, promotion is vital to digital marketing success, but it’s emphasis has shifted. Instead of directly promoting a product or solution, promotion – in the modern framework – involves activities that direct audiences towards experiences with your brand. With engaging, compelling digital experiences in place, you can then build brand trust through personalized interactions and a journey that provides a visitor with the content they want, when they want it. A good, modern digital promotion strategy, needs to juggle three essential elements: audience-centricity, balance across promotions and continuous testing. Modern promotion is audience-centric in that you need to take into consideration the multiple buying personas you’ve created for your different prospects and customers.

This is the fun part. Now that you’ve got your bases covered, you can start actively marketing your product or service. During the promotion phase, you have two main objectives—to inform potential buyers about your product and to persuade them to make a transaction. Historically, promotion was limited to television and radio ads, billboards, and word of mouth. Now, marketers have more options than ever before. With the proliferation of social media, there are numerous platforms that can be adopted across the b2b and b2c space. But, with so many choices, it’s best not to blindly implement every strategy and just invest in the right marketing channels for your business.

4 P’s of Marketing

This blogpost is based on the hbr study of richard ettenson (thunderbird school of global management), eduardo conrado (chief marketing officer at motorola solutions), jonathan knowles (type2consulting) and the article on helpscout.

When you’re trying to sell or raise awareness for a product or service, you need a strategy. And no matter what you’re doing, most marketing strategies are based on the four ps. The four ps is a fairly basic concept for considering how a business engages its product with its market. Using the four ps: product, price, place, and promotion, a business can get a basic but powerful sense of how their product is likely to be seen and related to by their potential customers. If you have a new product you want to sell, a business you want to promote, or a service you think people will like, the four ps will give you a guideline for marketing that product to the world.

Marketing isn’t easy, and without a proper marketing plan in place, your company may suffer. The main ingredients for a successful marketing campaign are the four ps. These essential marketing items are product, price, placement, and promotion. To provide a positive experience for your customers, it is in your best interest to ensure that each p works with all the others. It takes a lot of work and effort to determine what customers want and need, as well as identifying their shopping habits. Once these steps are taken, you will then need to produce your product, find the right price point, and promote it.

Getty images the 4 ps of marketing , also known as the producer-oriented model, have been used by marketers around the world for decades. Created by jerome mccarthy in 1960, the 4 ps encourages a focus on product, price, promotion and place. Recently, the growing influence of the web has made these classic principles look a bit archaic. Since modern buyers can learn almost everything about your business, the 4 ps of marketing may be at odds with how b2b works today. First, we need to look at the potential problems with the old way of doing things. Then, we need to identify a framework that can cover the same fundamentals, but is aligned with the changing landscape of b2b marketing.