4 P’s or Marketing (Marketing Mix)

Product – Quality/Creating a unique product that change how people think.

- Tangible product or service. Includes Packaging, brand name, company image and after sale
service. Products are purchased for their benefits and what they mean to us.

Price – Affordability

- What the buyer must give up to obtain the product

- Typically the most flexible of the four elements
- Often services as an indicator of product quality

Place – Where you sell your product/Logistics

- Concerned with making products available when and where customers want them
- Includes physical distribution of goods.

Promotion – How you tell people about your products. Examples of Promotion

Flyers

Signs

Emails

- How companies inform, educate, persuade and remind consumers of their product benefits
- Include advertising, public relations, sales promotion, and personal selling.

Advertising – paid, impersonal communication, mass setting

Public relations – publicity, you have no control, incorporates press releases
Sales promotions – discounts and coupons designed to get consumers to make immediate
purchase.
Personal selling – involves sales persons, very expensive, oldest form of selling, a bit outdated
but still very effective because you can get direct feedback and it is personal so its tailored to the
needs/wants of the consumer.

All 4 Ps need to work together to be effective.