Natan, Angelica B Strategic Management Prof.

Rebecca Gorospe
BSA3A February 6, 2023

Topic: “The 4ps of Marketing”

The four Ps are the key considerations that must be thoughtfully reviewed and wisely implemented in order to
successfully market a product or service. The 4Ps is often called “The Marketing Mix” and it has been a very
popular framework for the last 30 years. 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.

1. Product
- This is where you define your product or service. Product Managers must ensure to have the right
type of product that is in demand for the market. So during the product development phase, you
must do an extensive research on the life cycle of the product that they are creating. Describe the
benefits, the use cases, the technology. You need to clearly articulate what you do offer and what
you don’t offer.

2. Price
- This is where you define your pricing structure. Pricing always shapes the perception of your
product.
- Price determinations will impact profit margins, supply, demand and marketing strategy. It is not
easy to find the right amount for the right audience. Probably, the best way to start is simply
responding to the following questions:
- How much did it cost to produce the product?
- What is the customer's perceived value?
- Will a slight price decrease could significantly increase your market share?
- Can the current price keep up with the price of the product’s competitors?

3. Promotion
- This describes your marketing strategy and it mainly influences brand recognition and sales.
Example, Word of mouth is also a type of product promotion. It is an informal communication
about the benefits of the product by satisfied customers and ordinary individuals. Each touch point
must be supported by a well-positioned brand to truly maximize return on investment.

4. Place
- This should explain your distribution model. This comes with a deep understanding of your target
market. Basically, you need to figure out how you’re going to get your product to customers and
partners, your supplier to your warehouse and then to your customer.