THE FOUR P’S

E v o l u t i o n o f 4 P’s i n M a r k e t i n g
What is Four P’s in Marketing?
Marketing Mix
■ “Marketing Mix" was coined in the mid-20th century by Harvard professor and
marketing expert Neil Bordon outlined how marketers develop and execute a
successful marketing plan.
■ The Marketing Mix is a good place to start when you are thinking through your
plans for a product or service, and it helps you avoid mistakes, that can cost you a
bunch of money and time.
While marketing their products companies need to create a successful mix of:
• the right product
• sold at the right price
• in the right place
• using the most suitable promotion.
Product
■ A product can be either a good or a service that fulfills a need of consumers.
Whether you sell wood products or provide luxury accommodations, you must
have a clear grasp of exactly what your product is and what makes it unique
before you can successfully market it.
Price
Price determinations will impact profit margins, supply, demand and marketing
strategy. Pricing helps shape the perception of your product in consumers eyes.
Always remember that a low price usually means an inferior good in the
consumers’ eyes as they compare your good to a competitor.
Place
Any physical location where the customer can use, access, or purchase a product.
This includes distribution centers, transport, warehousing, inventory decisions, and
franchises.
Promotion
Promotion encompasses what is communicated, who it is communicated to, how
that audience is reached, and how often promotion happens.
Promotion includes the following elements: advertising, public relations, social
media marketing, email marketing, search engine marketing, video marketing and
more.
Each touch point must be supported by a well-positioned brand to truly maximize
return on investment.
It Doesn’t End Here…
People
Employees, including those who interact directly with customers (such as sales,
customer service, or delivery people) as well as staff recruitment and training.
This category includes :
 How well employees perform their jobs.
 How they appear to customers (for example, what their uniforms look like).
 How customers feel about their experience.
Process.
Anything within the organization that has an impact on how a product or service is
handled by employees and delivered to consumers.
Examples:
 The order in which employees must perform tasks.
 How many queries salespeople receive and where they direct customers for
help
 How performance is tracked and measured.
Physical evidence
Anything tangible related to a product or the physical environment in which a
service takes place.
Physical evidence may include product packaging, delivery receipts, signage, or the
layout of a physical store.
Draw a Marketing Mix (4 P’s) for
a Company known to you –
5mins activity