Running head: COMPARISON BETWEEN 4P AND VALUE MARKETING 1

Comparison Between 4P and Value Marketing Approach

Name

Institution Affiliate

Course

Date
COMPARISON BETWEEN 4P AND VALUE MARKETING APPROUCH 2

In this paper, we are going to compare and contrast the 4P marketing approach that

stands for the price, product, place, and promotion and the value marketing approach, which

concentrates on creating, communicating, delivering, and exchange. Many scholars led by

(Zineldin & Philipson, 2007) agree that 4P is a traditional form of marketing since it

concentrates more on the product value and has little regard for consumer value. On the

other hand, value approach marketing has been embraced by many companies since it focuses

on the consumer value making it more effective as compared to the 4P marketing approach.

According to Payne & Frow (2014), marketing is all about delivering value to the

consumers whom the business seeks to identify, satisfy, and retain. However, to succeed in

marketing, the management should seek to integrate both product value and consumer value.

The major similarity between the 4P marketing approach and value approach is that both seek

to deliver value to the end consumer. Unlike the value approach, the 4p seeks to deliver the

value to the product itself.

The 4P marketing approach has been eliminated by the value marketing since product,

price, place, and promotion does not include all the activity of bringing the value to the

consumer. Although a product may bring value to the consumer, effective marketing involves

creating an offering that gives value to consumers in addition to the product value.

The other difference between the 4P and value marketing is that promotion in the 4P

marketing approach informs the consumer about the product. However, the value chain

concentrates not only on the value of goods a product, but consumer choice and preference

through communication.

Lastly, the 4P is concerned with the place of delivering the product; on the contrary,

the value marketing approach is concerned with delivering superior value to a customer by

ensuring they get the most out of the product at their convenience place. Value marketing is
COMPARISON BETWEEN 4P AND VALUE MARKETING APPROUCH 3

concerned with delivering value over time and discovering new ways to improve customer

value.
COMPARISON BETWEEN 4P AND VALUE MARKETING APPROUCH 4

References

Payne, A., & Frow, P. (2014). Developing superior value propositions: a strategic marketing

imperative. Journal of Service Management, 25(2), 213-227. doi:10.1108/josm-01-

2014-0036

Zineldin, M., & Philipson, S. (2007). Kotler and Borden are not dead: the myth of

relationship marketing and truth of the 4Ps. Journal of Consumer Marketing, 24(4),

229-241. doi:10.1108/07363760710756011