“The 4 Ps of marketing” — an overview (with examples)

A professional presenting the four Ps of marketing

Designing and building a marketing campaign is a big project. Even experienced leaders sometimes find it hard to get started because there is so much to consider, plan, and organize.

But there are several strategies that can help, and “the 4 Ps of marketing” is one of them. It’s not a new concept, but the 4 Ps are so foundational that many marketers are using at least some of them without even knowing it. Understanding the whole framework of the 4 Ps of marketing can help make planning your next campaign simple and straightforward.

To help you get started, this piece will provide:

  • A definition of the holistic concept of the 4 Ps of marketing
  • A detailed look at each one of the 4 Ps
  • Insights on how to put the 4 Ps into action

Getting started with the 4 Ps

What are the 4 ps of marketing.

The 4 Ps of marketing are a collection of four essential elements of a marketing campaign — namely product, price, promotion, and place. Also known as “the marketing mix,” the 4 Ps collectively create a framework for organizing and planning a marketing strategy for a product or service.

Professor Neil H. Borden first described the concept of the 4 Ps and the marketing mix in the early 1950s at Harvard University. In the 1960s, marketing professor E. Jerome McCarthy at Michigan State University officially named these concepts “the 4 Ps of marketing” in his book Basic Marketing: The Managerial Approach .

Borden later published his conclusions in a 1964 article, “ The Concept of the Marketing Mix . ” The 4 Ps have remained a key reference for companies in consumer marketing and advertising for decades.

Marketing has evolved dramatically since the 1950s, and the marketing mix continues to develop as well. As early as the 1960s, the Ps were expanded to include people, process, and physical evidence. The marketing mix concept continues to be developed as marketers apply the concept to modern marketing.

Understanding the 4 Ps of marketing

The 4 Ps help marketers consider a product or service in the eyes of their consumers and buyers. It’s a framework that helps marketers build a holistic marketing strategy based on a deep understanding of the product, strategic consideration of pricing , unified view of promotional tactics, and unique insights into the places your audiences are.

Product — the object or service for sale

The product is the object or service for sale, and the marketer needs to know the product well. Understanding the product is about more than just knowing what it is and what it does. In order to design a strategic marketing campaign, you need a complete picture of:

  • Your product or service
  • How users relate to your product or service
  • How your product compares to the competition

All of the details are important, and it will take a little bit of time to pull together a complete view of the product — but don’t skip it. It’s easy to get a very basic product description and then skip ahead to designing a marketing plan, but this almost guarantees that some insights will be left out — and the advertising strategy won’t be as strong as it could be.

Business owners and entrepreneurs should be especially careful here. You’ve probably spent a lot of time working on your product already, but thinking about it from a marketing perspective is a little different. Make sure you have a complete marketing portrait of your product before moving forward.

A professional working on product design

An example of product

A media streaming subscription is an example of a product. The company may offer a limited, free plan but also provide another tier of service for a monthly fee. As the marketing team considers the product, they may note that this plan offers more types of media than their competitors. Market research may reveal that while the product was designed for desktop devices, most users are actually engaging on their smartphone apps. Or they may discover that even though they thought the service was being used for casual entertainment, there is actually a large audience segment streaming educational podcasts in the mornings.

Price — cost of the product or service

As part of the marketing mix, “price” refers to how the cost and pricing structure of a product will impact the marketing strategy . In some cases, pricing will be designed in conjunction with a marketing strategy. But even if pricing details are simply handed down to the marketing team, it shouldn’t be overlooked as a key consideration.

The concept of price becomes a marketing strategy in a couple of ways, including:

  • Brand perception. Pricing affects how your audience perceives your brand and your product. If you can design pricing structures as part of your marketing campaign, consider whether you are offering an economy or a luxury product. If pricing is predetermined, the marketing campaign will need to be consistent with the perception that pricing creates.
  • Lead generation. Pricing strategies can be designed for lead generation by using free trials or limited free pricing tiers. Whether or not lead generation is built into your product’s pricing structure will impact your marketing campaigns.

An example of price

In our media streaming example, the company offers a free account with limited access. If the paid subscription costs more than competitor subscriptions, the marketing team may choose to describe and illustrate their service as a more sophisticated option. Ad campaigns may associate the product with a more expensive lifestyle, highlight the larger library of content, direct content at adults more than teenagers, and establish partnership marketing relationships with other brands that market to the same audience.

Promotion — reach the target audience

Promotion is communicating with customers and target audiences. Promotion is what comes to mind for many people when they think about marketing because it’s the piece of the marketing strategy that considers how to tell your audience about your product.

Promotion includes SEO and content marketing, online ads, social media advertising, email marketing, public relations campaigns, media placement, and more. It’s about all of the considerations that will help you get your product to your audiences. Some of those considerations include:

  • The types of messaging your audience responds to
  • The ideal time to communicate with them
  • Market segmentation and demographics
  • How people interact with your brand

You’ll take all of those insights (and more) and use them to design visual ads, videos, email campaigns, and content calendars that speak directly to your target audience at every stage of the customer journey. You’ll also want to consider how to use personalization at scale in order to create a truly unique, engaging experience for each individual that helps move them through the funnel.

An example of promotion

For example, the media streaming service may consider a promotional campaign that targets business professionals in major US cities. The company may partner with popular tech brands and design messaging that advertises the largest collection of educational podcasts — perfect for learning about your business or favorite subjects during your morning routine.

Place — location of consumers

Place is about where and how your product is available, as well as where your marketing messages are shared. The idea of product ”place” is an important marketing consideration because it also affects brand perception. The “place” of your promotions has a similar effect because people associate the medium with the message. Many exclusive brands, for example, are not available in big box department stores. Selective product placement reinforces the customer’s view of the brand as something elite.

It’s important to note that most marketing places are now digital. Digital marketers need to consider where their customers and buyers are online, both for product and promotional placement.

An example of place

Let’s take one last look at the media streaming company example. The marketing team may focus a lot (if not all) of their campaign resources on digital platforms. LinkedIn might be a more valuable place than Facebook, and podcast sponsorships might be a valuable place for influencer marketing.

How to use the 4 Ps of marketing

You can put the 4 Ps of marketing to work by using them as a framework for planning your next campaign. Think through and document how each one applies to your strategy and how the implications of each can improve your marketing performance by asking some strategic questions:

  • What is unique about your product?
  • Why is it better than the competition?
  • How is the product designed to be used?
  • How is your audience actually using the product?
  • What needs does the product meet?
  • What frustrations does your audience have with the product?
  • What frustrations does your audience have with competitor products?
  • How does the product relate to our current branding and company mission?
  • What does the price communicate about the product?
  • What does the price communicate about your brand?
  • How will the pricing likely influence buyer perception?
  • Does the pricing model support lead generation strategies?
  • Based on the product and pricing, who are my target audiences?
  • Why do my target personas need this product?
  • When are my target personas most aware of their need for this product?
  • What type of messaging and content most resonate with my target audiences?
  • Where should my product be available? Is it exclusive or widely available?
  • Is my target audience geographically limited?
  • Where does my target audience spend their time?
  • What digital channels does my target audience prefer?
  • What marketing partners align with the strategy for this product and our brand identity?

The 4 Ps of marketing are not a new strategy and — like most marketing strategies — the strength of the marketing mix lies in its flexibility. It continues to develop to suit marketers’ needs and remains a key framework decades after it was first documented.

For your next marketing campaign, start by making sure your whole team has a clear definition of the product from every angle. Then use the remaining Ps to outline a successful marketing campaign.

When you’re ready to get started, check out Adobe Experience Manager to learn how the industry’s most robust digital asset management solution can help you put the 4 Ps into action. Deliver timely, relevant, and personal experiences — and reach your audience faster.

  • The Program
  • Manufacturing
  • Construction

Angle180 logo

The 4 P’s of Marketing Mix and how to master it in today's world (updated with example and template)

This article addresses how to use one of the oldest marketing concepts in today's online world: "The Marketing Mix," which is based on the 4 P's: Product, Price, Place and Promotion.

If you’re ready to take your marketing seriously, you’ll need to start with a marketing plan. A classic marketing concept called “The Marketing Mix” or “The 4 P’s” of Marketing is a perfect place to start.

The original concept of the 4 P's marketing mix

4ps marketing mix hand drawn

The original marketing mix, or 4 P's, as originally proposed by marketer and academic Jerome E. McCarthy , provides a framework for marketing decision-making. Effectively summing up the 4 pillars of the business cycle, McCarthy's marketing mix has since become one of the most enduring and widely accepted frameworks in business.

The essential base ingredients of the 4 P’s are: Product , Price , Place and Promotion . While this combination doesn’t appear to be rocket science, a company’s ability or lack thereof to embrace and implement the 4 P’s can make all the difference between thriving and failing as a business.

Each of the 4 P’s build upon and interact with one another, and are governed by both internal and external factors within the business itself, and our ever-changing marketplace. The 4 P’s of marketing primary purpose is to help us take into consideration potential roadblocks to widespread product adaptation and ongoing success.

So let’s get to them, shall we?

4 P's of marketing in simple and familiar terms:

open rectangular box hand drawn

A PRODUCT is a service or good offered to meet consumer interest or demand. It could come in the form of occupational therapy or a fidget spinner - choices are only limited to the imagination, BUT, are highly dependent on marketplace curiosity or need.

dollar sign icon hand drawn

PRICE is the cost people pay for a product. This includes base costs (materials, manufacturing, and shipping) plus expenses (rent, office supplies, healthcare, etc.). While you should always look to the competition, a smart business will tap into what people will actually pay for it. That's the only thing that counts. If you can't rise above your bottom line and make your target profit, then it’s a losing proposition.

location icon on map hand drawn

PLACE is the “home” where the product resides, and that “home” can live in many different channels, such as a physical store display, a newspaper, radio or TV ad, or a website or blog spotlight. Really, a place is anywhere you can get your product in front of your target customers that compliments your budget, including the price point.

loud megaphone icon hand drawn

PROMOTION is product exposure and public relations efforts via advertising (through the channels mentioned above) as well as word of mouth, direct mail, email marketing and social media. Promotion is a communication tool that encapsulates the first 3 P’s by putting the right product in the right place, at the right price, at the right time, with the goal of it being irresistible to customers.

The 4 P's example and template for a service business

The Marketing Mix of “HVAC Plumber” reflects a real life example of how a service company covers the 4 P’s (Product, Price, Place, Promotion) in their marketing strategy.

“HVAC plumber” (a fictitious company) provides heating and cooling services in the Chicago Metropolitan Area.

HVAC Plumber marketing mix elements strategy and example:

HVAC Plumber offers industry standard services, but also innovates to provide more value to our customers and captures more of the market. We are insured, licensed and provide warranties for our work. Our high quality services and focus on a pleasant customer experience helps us get repeat clients, referrals, and builds our reputation. Also, our motto is: “Leave the place cleaner than we found it” - so you’ll always see us with a broom in our hands before we leave.

At present, the following are the main categories of HVAC Plumber products:

  • Furnace installation and repair
  • Water heater maintenance, installation and repair
  • Air conditioning installation, maintenance and repair
  • Complete plumbing system design and installation
  • Drain, sink and toilet unclogging and jet rodding and repairs

Our extra value added products:

  • Emergency services
  • Indoor air quality testing services
  • Air duct and dryer vent cleaning services
  • Warranty services
  • Equipment sales

Our reputation and successful marketing generates more demand than we can handle, so it allows us to charge premium for our services. We train our service technicians to upsell our other services. We also have a customer loyalty program in place to reward our long-term clients with better rates and provide coupons to first time clients. We also seek partnerships with organizations such as: homeowner associations, insurance companies, builders and general contractors, and offer exclusive pricing options based on quantity.

The company has offices in downtown Chicago, but walk-in customers are unusual. We are physically represented by our company vans, uniforms and warranty stickers. We consistently attend industry trade shows, and belong to the Chicago Chamber of Commerce.

We nurture partnerships with our equipment vendors, participate in their trainings, and have certifications, which allow us to be listed “licensed technicians” on their websites. We serve the Chicagoland Area, which is about a 30 mile radius from our warehouse, but we do make travel exceptions for long-term clients and bigger projects.

Our company website is the most important communication tool, and is a place where our clients learn about our services and make initial contact. We invest a great deal of money and time to keep it updated and useful to our audience. We plan to expand our website to include ecommerce and make some of the package services, equipment and accessories available for purchase online. None of our competitors are doing this at the moment, so we’ll take advantage of being pioneers in this regard.

Most new business comes through our website and we focus all of our promotion efforts to drive more traffic to it. Our promotional mix is as follows:

  • Search engine optimization
  • Paid traffic
  • Social media marketing
  • Content marketing
  • Email marketing

Our value proposition statement

HVAC Plumber is an industry-leading HVAC and plumbing service provider serving the Chicago area since 1999. We specialize in new installations, repairs, and 24 hour emergency services.

Start with 4 P's of marketing template

Check out our 4 P's of marketing template to help you work through your first few ideas.

But why stop there?

The 7 P’s of marketing mix

Since the inception of the original 4 P’s of marketing, marketing experts have expounded upon the mix to include three additional P’s to enhance brand exposure and sales performance.

These additional P’s include: People , Process and Physical evidence .

7ps marketing mix hand drawn

PEOPLE have always been at the epicenter of the business world. Whether it’s the company visionaries, the movers and shakers, or the daily doers, unless (or until) commerce is fully automated, you’re only as good as the people who keep the business operational and flowing. And believe you me, customers are quick to notice when there’s a glitch in the matrix.

toothed wheel icon hand drawn

PROCESSES ensure consistent service delivery to every customer, at any time of day, on any given day. And, a successful business incorporates scenarios where customer preferences can be accommodated to provide them a unique experience.

fingerprint in frame hand drawn

PHYSICAL EVIDENCE – Almost all services include physical proof of a transaction, even if the bulk of what the consumer bought isn’t tangible. It’s something the customer can hold onto and recall about working with you. Physical evidence also describes consistent branding across communication channels.

How can you actually use this?

How the 4 P’s apply in today’s online marketing

The how’s and why’s of how we approach marketing have become much more dynamic since the inception of the internet. However, the driving factor is still and should always remain: PEOPLE. Actually, it’s more about people than ever before. Having an honest marketing approach has never been more important and is both emotionally and financially rewarding if you do it right.

marketing mix on target audience

PRODUCT and how it lives online versus the shelf

It seems like not much has changed as far as the product or services goes, right? Wrong. No matter what type of product you offer, the landscape shifted majorly to the consumer benefit. The majority of customers now prefer to shop online, and perform in-depth research before making their buying decisions.

Besides the original, product-related marketing factors such as: product quality and design, branding, packaging, returns and guarantees, in your marketing plan, you should also consider NEW factors.

speech bubble hand drawn

User-centric customer support - your product now has a digital voice. And it must talk to your audience and be both personalized and timely. Not only across all the common channels such as phone or email, but also should be proactively involved in social media. Resource: Social media customer service 101: the beginner's guide

New PRICING models to consider

chief marketing officer lego minifigure at desk hand drawn

Pricing your product or service is never an easy task. It sure helps if you can find a unique product positioning on the market, otherwise you fall into price comparison wars with your competition. And, to compare prices has never been easier than today. The original Marketing Mix suggests considering pricing strategy and tactics, discount structure, payment terms and options for both customers and distributors.

letter b icon hand drawn

Competition pricing research - this is an in-depth review of the pricing models of your direct competitors. In comparing products, you should focus worldwide. With local services, of course, should compare within your own service area. Remember that you don’t have to anchor your pricing based on competition, but it helps to know the market.

truck shipping icon hand drawn

Shipping and handling strategy - it’s not an obvious, but very important factor in online sales conversions no matter the item price. Offering free shipping is one of the most effective purchase incentives. Resource: How to offer free shipping and still make money

Diana Bukevicius

"9 out of 10 online shoppers consider free shipping as one of the main reasons why they shop at a particular online store. To offer free shipping is not a new thing, thanks to Amazon it became essential running an online store. The main question now is how to make it profitable. It looks impossible, but with the right approach - offering it most, not all, of the time, setting a flat shipping or order threshold, it is possible."

Diana Bukevicius - Scube Marketing

circular target icon hand drawn

Product positioning - I know I’m repeating myself, but I have to. Positioning is strongly engraved into each pillar of The Marketing Mix. As far as pricing goes, having strong niche positioning eliminates the number of competitors that your product or service can be compared with and it opens up an opportunity to go for value pricing . Resource: Everything you need to know about pricing

six arrows icon hand drawn

Upsell strategy - this is an underestimated source of cash flow. It’s always easier to sell to the people that already bought something from you and were happy with the product. It can be an additional items or warranties, maintenance or a product upgrade.

PLACE for marketing is now on the mobile screens

Back in the 1940’s “place” was all about brick and mortar. Location, distribution, and logistics are still part of the process, but it heavily shifted from the marketing department to operations. No doubt you’ll boost sales if your product gets featured in physical Walmart stores, but you also can sell at Walmart Marketplace online with way less effort for the approval process. Same goes for Amazon. Online selling has undoubtedly taken over as the place to peddle your wares. Resource: How to sell on Walmart marketplace in 7 easy steps

world wide web letters hand drawn

Website - this is by far your most important marketing piece. It’s your 24/7 storefront and your sales rep that never sleeps. Any marketing efforts that you take will end up on your website. I mentioned 3rd party sources like Walmart Marketplace or Amazon, but I still highly recommend you focus on your own website first and use other sources as secondary. Why? Because you own it and you control it.

Any 3rd party retailer could change their policies tomorrow and you might be out of business. Plus, websites grow more powerful over time if supported by thoughtful and consistent marketing decisions. When you build your website, the decisions on design, structure and content should be made based on your promotional strategies.

thumbs up icon hand drawn

3rd party platforms - Your audience is on or a few of these platforms already. Identify those platforms and utilize them. It can take the form of direct eCommerce platforms like Amazon, or it can be social channels like LinkedIn or Facebook etc.

PROMOTION is in your inbox

Search engine optimization (SEO), social media, email marketing and paid search. I hear that Super Bowl ads are worth their weight in gold, but if you can afford a Superbowl ad, you are on the wrong blog!

Jokes aside, make sure your marketing strategy is built around driving traffic to your website and converting it to leads or sales.

growth bar chart hand drawn

Traffic generation - getting targeted visitors to come to your website is the ultimate #1 goal. There are numerous ways you can achieve that, and they’re all worth considering:

Search engine optimization (SEO) - is the practice driving traffic to your website through organic search engine results by optimizing (making relevant) your website for targeted keyphrases. SEO is an ongoing process that requires patience and consistent efforts.

Paid search - in other words - “bought traffic.” Platforms like Google AdWords, Bing Ads or Facebook Ads allows you to buy highly targeted traffic in an auction-type of fashion. It’s typically based on “per click” pricing, where each visitors cost you x amount of dollars.

Social media marketing - is the process of gaining traffic or attention through social media sites. If you sell to people then it’s a great idea to invest time and effort (and sometimes money) into one or several social media sites. That’s where the people hang-out these days. Resource: Welcome to the beginner's guide to social media!

Email marketing - is the modern equivalent of oldschool direct mail, I believe. Even if one more email in our inbox is the last thing we want or need - email is still one of the best performing marketing tools. Resource: A beginner’s guide to successful email marketing Resource: A comprehensive guide to email marketing platforms

fish and fishing hook hand drawn

Conversion rate optimization - converting website visitors into leads is the ultimate goal #2 to achieve. Firstly, to be able to calculate conversions you need to have Google Analytics or other tracking system integrated to your website. Conversion rate optimization are an ongoing process where you optimize your website and measure the outcome looking for the optimal version of each page. Resource: Conversion optimization made simple: a step-by-step guide Resource: Learn Google Analytics with free online courses

2 extra P’s from Angle180

The team at Angle180 takes the “4 P's of marketing (Plus 3)” two steps further, to include Positioning and Positive Reviews.

Positioning - again and again. Positioning is a fundamental piece of your marketing plan and your overall business success. Essentially, if you answer all the questions related to each P you’ll arrive to your business positioning statement.

Positioning is how you differentiate your product or service from your competitors in your niche market.

A good positioning statement is the first thing people read when they visit your website. Typically, it’s a 7-10 word sentence on your Home Page that succinctly answers:

There’s a science behind positioning, and it’s wise to research how others in your field describe themselves.

five little stars hand drawn

Positive reviews - positive online reviews are pretty self explanatory, but I recommend creating a strategy for collecting positive reviews, as well as dealing with negative ones.

Unfortunately, it’s human nature to take positive experiences for granted and feel revengeful about the negative ones.

Reviews definitely affect local search rankings and customer buying decisions.

Local consumer review survey by BrightLocal reveals the importance of reviews:

97% of consumers read online reviews for local businesses in 2017

85% of consumers trust online reviews as much as personal recommendations

49% of consumers need at least a four-star rating before they choose to use a business

Responding to reviews is more important than ever, with 30% naming this as key when judging local businesses

4 P's of Marketing Mix in a slideshow presentation (PPT) and downloadable PDF

Here is a PDF version of 4 P's of marketing presentation.

Our conclusion? The original 4 P’s of the marketing mix withstand the test of time

There is one common trait to all classic things - they never get old or obsolete. So, even with all the changes that technology has brought us, the 80 year concept of The 4 P’s of marketing mix are still relevant and applicable today. Marketing platforms and tools have certainly changed, but the foundation is rock solid. And, let’s hope it always remains personalized and people-driven.

Sarunas Budrikas - CEO of Angle180

I'm Sarunas Budrikas, CEO of Angle180, a B2B marketing company delivering results through high performance web design and traffic generation.

You can also find me on LinkedIn and Twitter .


Get news and tips to grow your business

© 2009-2023 Angle180 141 W. Jackson Blvd., Chicago, IL 60604 (720) 575-0003 , (847) 439-6226 Privacy Policy

We use cookies to ensure you get the best experience on our website. By continuing to use the site, you consent to the use of these cookies and agree to our privacy policy .

  • Search Search Please fill out this field.

What Are the 4 Ps of Marketing?

  • Understanding the 4 Ps
  • These Are the 4 Ps

How To Use the 4 Ps of Marketing in Your Marketing Strategy

  • 4 Ps of Marketing FAQs

The Bottom Line

  • Business Essentials

The 4 Ps of Marketing and How To Use Them in Your Strategy

Product, price, place, and promotion are the four factors of the marketing mix

business plan 4ps example

The four Ps are the key considerations that must be thoughtfully reviewed and wisely implemented in order to successfully market a product or service. They are product, price, place, and promotion.

The four Ps are often referred to as the marketing mix . They encompass a range of factors that are considered when marketing a product, including what consumers want, how the product or service meets or fails to meet those wants, how the product or service is perceived in the world, how it stands out from the competition, and how the company that produces it interacts with its customers.

Since the four Ps were introduced in the 1950s, more Ps have been identified, including people, process, and physical evidence.

Key Takeaways

  • The four Ps are the four essential factors involved in marketing a product or service to the public.
  • The four Ps are product, price, place, and promotion.
  • The concept of the four Ps has been around since the 1950s. As the marketing industry has evolved, other Ps have been identified: people, process, and physical evidence.

Investopedia / Julie Bang

Understanding the 4 Ps of Marketing

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. His 1964 article "The Concept of the Marketing Mix" demonstrated the ways that companies could use advertising tactics to engage their consumers.

Decades later, the concepts that Borden popularized are still being used by companies to advertise their goods and services.

Borden's ideas were developed and refined over a number of years by other key players in the industry. E. Jerome McCarthy, a marketing professor at Michigan State University, refined the concepts in Borden's article and named them the "four Ps" of marketing. McCarthy co-wrote the book Basic Marketing: A Managerial Approach , further popularizing the idea.

At the time the concept was introduced, it helped companies breach the physical barriers that could hamper widespread product adoption. Today, the Internet has helped businesses to overcome some of these barriers.

People, process, and physical evidence are extensions of the original Four Ps and are relevant to current trends in marketing.

Any successful marketing strategy should be revisited from time to time. The marketing mix you create is not intended to be static. It needs to be adjusted and refined as your product grows and your customer base changes.

These Are the 4 Ps of Marketing

Creating a marketing campaign starts with an understanding of the product itself. Who needs it, and why? What does it do that no competitor's product can do? Perhaps it's a new thing altogether and is so compelling in its design or function that consumers will have to have it when they see it.

The job of the marketer is to define the product and its qualities and introduce it to the consumer.

Defining the product also is key to its distribution. Marketers need to understand the life cycle of a product , and business executives need to have a plan for dealing with products at every stage of the life cycle.

The type of product also dictates in part how much it will cost, where it should be placed, and how it should be promoted.

Many of the most successful products have been the first in their category. For example, Apple was the first to create a touchscreen smartphone that could play music, browse the internet, and make phone calls. Apple reported total sales of the iPhone for FY 2022 at $205.4 billion. In 2021, it hit the milestone of 2 billion iPhones sold.

Price is the amount that consumers will be willing to pay for a product. Marketers must link the price to the product's real and perceived value, while also considering supply costs, seasonal discounts, competitors' prices, and retail markup.

In some cases, business decision-makers may raise the price of a product to give it the appearance of luxury or exclusivity. Or, they may lower the price so more consumers will try it.

Marketers also need to determine when and if discounting is appropriate. A discount can draw in more customers, but it can also give the impression that the product is less desirable than it was.

UNIQLO, headquartered in Japan, is a global manufacturer of casual wear. Like its competitors Gap and Zara, UNIQLO creates low-priced, fashion-forward garments for younger buyers.

What makes UNIQLO unique is that its products are innovative and high-quality. It accomplishes this by purchasing fabric in large volumes, continually seeking the highest-quality and lowest-cost materials in the world. The company also directly negotiates with its manufacturers and has built strategic partnerships with innovative Japanese manufacturers.

UNIQLO also outsources its production to partner factories. That gives it the flexibility to change production partners as its needs change.

Finally, the company employs a team of skilled textile artisans that it sends to its partner factories all over the world for quality control. Production managers visit factories once a week to resolve quality problems.

Place is the consideration of where the product should be available—in brick-and-mortar stores and online—and how it will be displayed.

The decision is key: The makers of a luxury cosmetic product would want to be displayed in Sephora and Neiman Marcus, not in Walmart or Family Dollar. The goal of business executives is always to get their products in front of the consumers who are the most likely to buy them.

That means placing a product only in certain stores and getting it displayed to the best advantage.

The term placement also refers to advertising the product in the right media to get the attention of target consumers.

For example, the 1995 movie GoldenEye was the 17th installment in the James Bond movie franchise and the first that did not feature an Aston Martin car. Instead, Bond actor Pierce Brosnan got into a BMW Z3. Although the Z3 was not released until months after the film had left theaters, BMW received 9,000 orders for the car the month after the movie opened.

4. Promotion

The goal of promotion is to communicate to consumers that they need this product and that it is priced appropriately. Promotion encompasses advertising, public relations, and the overall media strategy for introducing a product.

Marketers tend to tie together promotion and placement elements to reach their core audiences. For example, In the digital age, the "place" and "promotion" factors are as much online as offline. Specifically, where a product appears on a company's web page or social media, as well as which types of search functions will trigger targeted ads for the product.

The Swedish vodka brand Absolut sold only 10,000 cases of its vodka in 1980. By 2000, the company had sold 4.5 million cases, thanks in part to its iconic advertising campaign. The images in the campaign featured the brand's signature bottle styled as a range of surreal images: a bottle with a halo, a bottle made of stone, or a bottle in the shape of the trees standing on a ski slope. To date, the Absolut campaign is one of the longest-running continuous campaigns of all time, from 1981 to 2005.

The four Ps provide a framework on which to build your marketing strategy. Think through each factor. And don't worry when the factors overlap. That's inevitable.

First, analyze the product you will be marketing. What are the characteristics that make it appealing? Consider similar products that are already on the market. Your product may be tougher, easier to use, more attractive, or longer-lasting. Its ingredients might be environmentally friendly or naturally sourced. Identify the qualities that will make it appealing to your target consumers.

Think through the appropriate price for the product. It's not simply the cost of production plus a profit margin. You may be positioning it as a premium or luxury product or as a bare-bones, lower-priced alternative.

Placement involves identifying the type of store, online and off, that stocks products like yours for consumers like yours.

Promotion can only be considered in the context of your target consumer. The product might be appealing to a hip younger crowd or to upscale professionals or to bargain hunters. Your media strategy needs to reach the right audience with the right message.

Product, price, promotion, and place form the four Ps of the marketing mix. These are the key factors that are involved in introducing a product or service to the public.

When Did the 4 Ps Become the 7 Ps?

The focus on the four Ps—product, price, place, and promotion—has been a core tenet of marketing since the 1950s. Three newer Ps expand the marketing mix for the 21st century.

  • People places the focus on the personalities who represent the product. In the current era, that means not only sales and customer service employees but social media influencers and viral media campaigns.
  • Process is logistics. Consumers increasingly demand fast and efficient delivery of the things they want, when they want them.
  • Physical evidence is perhaps the most thoroughly modern of the seven Ps. If you're selling diamond jewelry on a website, it must be immediately clear to the consumer that you are a legitimate established business that will deliver as promised. A professionally designed website with excellent functionality, an "About" section that lists the principals of the company and its physical address, professional packaging, and efficient delivery service are all critical to convincing the consumer that your product is not only good, it's real.

What Are Some Examples of the 4 Ps of Marketing?

  • Place refers to where consumers buy your product, or where they discover it. Today's consumers may learn about products and buy them online, through a smartphone app, at retail locations, or through a sales professional.
  • Price refers to the cost of the product or service. Properly determining product price includes an analysis of the competition, the demand, production costs, and what consumers are willing to spend. Various pricing models may be considering, such as choosing between one-time purchase and subscription models.
  • The product a company provides depends on the type of company and what they do best. For example, McDonald's provides consistent fast food in a casual setting. They may expand their offerings, but they wouldn't stray far from their core identity.
  • Promotion refers to specific and thoughtful advertising that reaches the target market for the product. A company might use an Instagram campaign, a public relations campaign, advertising placement, an email campaign , or some combination of all of these to reach the right audience in the right place.

How Do You Use the 4 Ps of Marketing?

The model of the 4Ps can be used when you are planning a new product launch, evaluating an existing product, or trying to optimize the sales of an existing product.

A careful analysis of these four factors—product, price, place, and promotion—helps a marketing professional devise a strategy that successfully introduces or reintroduces a product to the public.

The four Ps of marketing—product, price, place, promotion—are often referred to as the marketing mix. These are the key elements involved in planning and marketing a product or service, and they interact significantly with each other. Considering all of these elements is one way to approach a holistic marketing strategy .

Neil Borden. " The Concept of the Marketing Mix ."

E. Jerome McCarthy. "Basic Marketing: A Managerial Approach." Richard D. Irwin, Inc., 1960.

Apple. " Condensed Consolidated Statements of Operations (Unaudited) Q4 2022 ," Page 1.

Apple Insider. " At 2 Billion iPhones Sold, Apple Continues to Redefine What Customers Want ."

Harvard Business School: Technology and Operations Management. " UNIQLO: What’s Behind the Low-Cost High-Quality Casual Wear? "

Smart Insights. " Campaign of the Week: The Longest Running Print Ad Marketing Campaign in History ."

business plan 4ps example

  • Terms of Service
  • Editorial Policy
  • Privacy Policy
  • Your Privacy Choices

By clicking “Accept All Cookies”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.

What Are the 4 Ps of Marketing? The Marketing Mix Explained [Example]

Rebecca Riserbato

Published: October 03, 2023

If you've been a marketing professional for years now, learning about the four Ps of marketing might seem like a throwback to you.

the four Ps of marketing

However, for those of us who work in the industry but didn't study marketing in college, it's entirely possible you haven't heard of the marketing mix.

Below, let's learn about the four Ps of marketing and how they're still relevant in today's marketing landscape.

→ Free Resource: 4 Marketing Mix Templates [Access Now]

What are the 4 Ps of marketing?

The four Ps of marketing are product, price, place, and promotion. These are the key factors that are involved in marketing a product or service. You take the four Ps into account when creating strategies for marketing, promoting, advertising, and positioning your product or brand.

The four Ps are meant to help marketers consider everything about a product or service when they're deciding how to market it for their business. Framing your marketing around the four Ps will help you learn what the competition is doing and what customers want from you.

4Ps of marketing

How to Use the 4 Ps of Marketing

You can use the four Ps to answer questions about the product, price, place, and promotion of your product or service.

For example, you can ask yourself:

  • Product : How does your product meet your customer's needs? What problem(s) does it solve? What unique value or features does it offer?
  • Price : What is the value of your product? What are my competitors charging?
  • Place : Where are customers looking for your product?
  • Promotion : How can you differentiate your product from competitors? Where can you reach your audience?

Always consider the needs and preferences of your target audience. Ultimately, your product, its price, its place of distribution, and its promotional strategies should appeal to your customers the most.

Thinking about your marketing in terms of the four Ps will help you strategize how to reach your customers. The 4 Ps of Marketing are also known as your marketing mix — more on that below.

What is the marketing mix?

The marketing mix is also known as the four Ps of marketing. It refers to the four key elements of a marketing strategy: product, price, place, and promotion. These elements guide the marketing initiatives, wording, and positioning for a product or brand.

To develop a marketing mix, you'll need to think about how you can uniquely position your brand amongst the competition. The most important part of thinking about the marketing mix — or the four Ps of marketing — is to understand the customer, the competition, and your company. You'll evaluate your product and how to promote it.

But getting started isn’t easy. That’s why we’ve created the ultimate collection of marketing mix templates you can use to visualize your marketing mix and share it with your employees or investors. Use the templates to organize your initiatives and activities by the right section.

Featured Resource: Marketing Mix Templates

Four P's of marketing templates.

Click here to download the templates for free .

Use the template to follow along with the 4 Ps of marketing below.

The 4 Ps of Marketing (Example)

1. the first p of marketing: product.

When you think about your product, consider exactly what you're selling. Is it a specific product? Or is it a service? Your product can be a physical product, an online app, or a service such as house cleaning. Really, anything that you're selling is the product.

Then, think of your brand messaging, the services you offer, and even packaging. When you define your product, think about what problem your product solves for your customers. Consider how your product is different from competing products. What features are unique to your product?

It's important to know your product intimately so you can market it.

Product Example

We’ll use Marketing Hub as an example.

What is it? “Marketing automation software to help you attract the right audience, convert more visitors into customers, and run complete inbound marketing campaigns at scale — all on one powerful, easy-to-use platform.”

Who is it for? Modern marketers who juggle too much data and who are stuck with impossible-to-use software solutions that make their job harder, not easier.

Which features does it have? Marketing Hub offers blogging, SEO, social media management, email marketing, and ad tracking tools in a single, intuitive platform.

What problem does it solve? Marketing Hub simplifies the marketing automation process for busy marketers by bringing all data and tools under one roof.

2. The Second P of Marketing: Price

When it comes to price, you have to consider how much you're going to charge customers for your products or services. Of course, you need to make a profit.

When coming up with your pricing strategy , you also need to think about what competitors are charging for the same product or service and how much customers are willing to pay. You can also think about what discounts or offers you can use in your marketing.

When you decide on a price, you want to think about perception. Do you want to be known as a cost-effective option in your industry? Or perhaps you're a luxury brand and the price is slightly higher than competition on the market. Keep in mind that pricing SaaS products is a little different than pricing physical products.

Either way, the language you use to market your product will be greatly impacted by the price of your product.

Download a sales pricing calculator for free .

Price Example

Marketing Hub is priced to grow with you as you grow.

We offer the following subscription tiers:

  • $0/month (Free)
  • $45/month (Starter)
  • $800/month (Professional)
  • $3,200/month (Enterprise)

3. The Third P of Marketing: Place

When it comes to place, this might mean the physical location of your company, but it could also be defined as anywhere you sell your product, which might be online.

The place is where you market and distribute your product.

Remember that not every place makes sense for every product. For example, if your target market is seniors, then it won't make sense to market on TikTok. It's important to choose the right places to market your product and meet your customers where they're at.

Think about possible distribution channels and outlets you could use to sell your product. Be sure to take into account whether your business is B2B or B2C .

At this point, you'll need to think about how to market your product on all the various channels that make sense for your company.

Place Example

As a provider of a SaaS product, we offer Marketing Hub directly on our website.

Marketers can sign up for Marketing Hub by creating an account directly on our platform. We’ve created a convenient sign-up page for free subscriptions — or they can request a demo from our friendly sales team.

4. The Fourth P of Marketing: Promotion

Promotion is the bread and butter of marketing. This is when you'll think about how to publicize and advertise your product.

Additionally, you'll discuss brand messaging, brand awareness, and lead generation strategies .

When it comes to promotion, keeping communication in mind is of the utmost importance. What messages will resonate with your target market? How can you best promote your product to them?

Think about where, when, and how you'll promote your brand.

Promotion Example

We want to be where marketers are. Most importantly, we want to help them grow in their careers — as well as grow their businesses.

Our inbound marketing strategy will focus primarily on organic acquisition. We’ll promote Marketing Hub over the following channels:

  • The HubSpot Marketing Blog
  • HubSpot Academy

The 4 Ps of Marketing Examples: Apple and e.l.f. Cosmetics

Let's break down the 4 Ps of marketing for Apple and e.l.f. Cosmetics.

The 4 Ps of Marketing: Apple example

( Image Source )

  • Product: iPhones, Macs, iPads, Apple Watch, AirPods, Software, and Services (i.e., Apple Music, Apple TV, iTunes, etc.).
  • Price: Apple products are often priced at the higher end of the market. The brand commands premium pricing due to its reputation for innovation, quality, and design.
  • Place: Consumers can purchase products online and in retail stores. Apple products are sold worldwide and have a significant global market presence.
  • Promotion: Apple places a strong emphasis on cultivating a dedicated and loyal consumer base. Their marketing campaigns reinforce the idea of being part of an "Apple ecosystem." Once users buy one product — like an iPhone – they're more likely to choose other Apple products like MacBooks, iPads, Apple Watches, and more. This ecosystem fosters a deep brand loyalty. This sense of loyalty is evident in their product launches, which are a must-see event in the tech industry.

e.l.f. Cosmetics

The 4 Ps of Marketing: elf cosmetics example

  • Product: e.l.f. offers a comprehensive range of makeup and skincare products, brushes, and beauty tools.
  • Price: One of e.l.f.'s main value propositions is its affordability. Many of their products have a low price point, making the brand accessible to a wide range of consumers. Its lower price point sets it apart from other brands in the beauty space.
  • Place: e.l.f. products are widely available in drugstores and big-box retailers like Target and Walmart. It also has a a strong online presence, selling products directly through their website and other online retailers.
  • Promotion: As a challenger brand in the beauty space, e.l.f. seeks to establish itself as a recognizable and reliable option at the drugstore and beyond. The brand is proactive across social media, including TikTok, Instagram, and YouTube, to engage with younger demographics. In addition, their campaigns often involve user-generated content to foster a sense of community with their audience. 

Back to You

Even though marketing has changed since the four Ps were developed, the foundational elements of the industry haven't. You can apply the concepts of the marketing mix to create winning marketing strategies that help you profitably launch and promote your company’s products.

Editor's note: This post was originally published in October 2020 and has been updated for comprehensiveness.

marketing mix

Don't forget to share this post!

Related articles.

8 Steps to Create a Complete Marketing Strategy in 2023

8 Steps to Create a Complete Marketing Strategy in 2023

Marketing Techniques: What to Try in 2023

Marketing Techniques: What to Try in 2023

Lifecycle Marketing: The Complete Guide

Lifecycle Marketing: The Complete Guide

The Scarcity Principle: How 7 Brands Created High Demand

The Scarcity Principle: How 7 Brands Created High Demand

The Ultimate Guide to Marketing Strategies & How to Improve Your Digital Presence

The Ultimate Guide to Marketing Strategies & How to Improve Your Digital Presence

5 Steps to Create an Outstanding Marketing Plan [Free Templates]

5 Steps to Create an Outstanding Marketing Plan [Free Templates]

Marketing 101: The Ultimate Guide for Beginners

Marketing 101: The Ultimate Guide for Beginners

What is a Marketing Plan & How to Write One [+Examples]

What is a Marketing Plan & How to Write One [+Examples]

Technical Marketing: Best Practices and Career Tips

Technical Marketing: Best Practices and Career Tips

What is Global Marketing? See 13 Businesses with Brilliant Strategies

What is Global Marketing? See 13 Businesses with Brilliant Strategies

Organize your product, price, place, and promotion initiatives in a simple, single template.

  • Search Search Please fill out this field.
  • Building Your Business

What Are the 4 Ps?

business plan 4ps example

Klaus Vedfelt / Getty Images

The 4 Ps is a marketing term that stands for product, price, place (or placement), and promotion. This “marketing mix” of four key marketing factors is the foundation of successful marketing strategies around the world.

Key Takeaways

  • At least four key factors, known as the 4 Ps, go into a successful marketing mix and plan: product design, pricing, placement, and promotional strategies.
  • Use a marketing mix of all 4 Ps to ensure that your goods or services are marketed effectively to the right customers, in the right way, and in the right areas. 
  • Understanding the 4 Ps and creating an ever-evolving marketing plan can help your business adapt, thrive, and grow in a dynamic, ever-changing market environment. 

Definition and Examples of the 4 Ps of Marketing

The 4 Ps were notably identified by Neil Borden, an advertising professor at Harvard University, in a 1964 article entitled, “The Concept of the Marketing Mix.” However, the concept of four essential marketing factors has been around since the 1950s, although it has evolved significantly since then. 

This four-pronged marketing model is used by most successful businesses and is the foundation of comprehensive marketing plans. Here’s more on the 4 Ps:

  • Product : The goods or services your business is offering.
  • Price : How much the consumer can or will pay for your goods or services.
  • Place(ment) : The location or environment where the product will be sold.
  • Promotion : How your product is positioned and advertised.

The easiest way to incorporate the 4 Ps is by answering these four questions: What are you offering? How much is it worth? Where can consumers find it, is it priced well, and why should they care?

In the marketing world, these considerations are referred to as “positioning” and help businesses examine their offering in relation to consumers and the market as a whole.

Sometimes, these 4 Ps are expanded to include three more “P” components:

  • People : The employees responsible for creating, marketing, and curating your products.
  • Process : Procedure management of your products and/or the methods and flow of your services.
  • Physical evidence : The physical assets (location, furniture, signage, layout) used to present your product.

The 4 Ps are more than a simple, static marketing plan; the approach is an evolving and cyclical explanation of your business's offering. Using a blend of techniques, strategies, and focus areas, the 4 Ps help business owners ensure that their marketing plan is hitting all the right points of emphasis, consistently, and over time. 

There is a subtle but essential difference between a marketing strategy and a marketing plan. Marketing strategies are the methods used to execute a marketing plan. Marketing plans are the road maps, or blueprints, businesses create to implement effective marketing strategies.

How Do the 4 Ps of Marketing Work? 

An effective business marketing plan based on the 4 Ps depends on what you're providing to the public, who wants or needs it, how rare or valuable it is, and the strength of your competition. Let's look into what roles product, price, place, and promotions play in building a marketing plan and shaping marketing strategies for businesses.

Quality, packaging, design, materials, and production cost are vital considerations when designing and branding products. To fully understand this part of the 4 Ps, ask yourself, do I have a product worth buying? What makes this a good product? Who would want it and why? 

It’s important to ask questions such as, who is not interested in my product and why? How could I alter my product or marketing mix to accommodate new or more customers? Which designs, price points, promotional tactics, or product placements aren’t working effectively? 

For example, paper plates should be able to hold food well, be made of sanitary materials, have a low cost, be disposable, and readily available. Therefore, marketing gold-rimmed paper plates as a product would be a marketing failure. Offering expensive paper plates defeats the purpose of their invention.

The sizable current target market for paper plates would not be interested in paying more for this product, or in throwing away something of value (gold) when they only desired a time-saving, low-cost convenience product.

Conversely, offering gold leaf on fancy desserts at a top-tier restaurant to a clientele that spends more makes sense. Those kinds of extravagant products are almost an expected part of a high-end dining experience and, therefore, market well. It’s also worth noting that marketing that same high-end dessert on paper plates would not be as popular, for obvious reasons.

When considering the "price" element of the 4 Ps, it's important to consider the two different pricing structures businesses can adopt: cost-based and value-based. Using market research to determine how much niche, mass appeal, or interest your product has is an excellent place to start.

For readily available products in flooded markets with much competition, cost-based pricing is the norm. If the product is not costly, sought after, or unique, basing the price on the cost to consumers makes more sense, and pricing your product competitively will be effective.

Value-based pricing is dependent on the subjective assessments of worth from consumers. Designer clothing, luxury cars, and rare gemstones are examples of value-based-priced products. The rarer the item, the stronger the social and societal value placed on it—and the greater the demand—the higher a price it can command.

In the marketing mix, "place" refers to the location (virtual or real-world) where you will market your goods or services. Consider who wants your product and where they spend the most time. This explains why most marketers spend their largest marketing ad budget on social media and search engines now rather than on TV or Radio. The reason is that the customers spend their time there. The common expression used now is "meet where they are."

Also, consider which kind of promotions work well with that target audience in order to work this angle successfully. Certain kinds of products perform better when marketed in different venues or environments.

Hardware supplies still sell well in physical stores for a large number of reasons. Consumers enjoy being able to handle such products before they buy them. Often, a trip to a hardware store leads to a few more purchases than the customer realized they needed. Selling a tool in a hardware store or lumberyard is still a smart move, in addition to offering it online .

Placing your product where it makes sense to do so (and where your target audience expects it to be) is smart marketing. That said, innovative, guerrilla marketing (a term for marketing in an unexpected location where consumers least expect it) can also be highly effective. Sometimes the element of surprise can be a powerful addition to a marketing plan.

For other products, sales in physical stores don't make sense anymore. Streaming services , apps, and software programs or services are great examples of this. There is nothing physical to buy, so the promotion, price, place, and product all happens in one place—virtually. This keeps production and advertising costs down and ensures that the products or services are readily accessible and serviceable, improving customer satisfaction and word-of-mouth marketing.

Promoting your product successfully depends heavily on the other three marketing-mix factors as well. For example, how you promote your product or service depends on what kind of offering you have, where it will be sold, how much it costs, and who your target market is.

For example, promoting the launch of your new app through a newspaper advertisement may not make much sense logistically (as your target market may not even see it), but promoting its launch through TikTok videos or Instagram ads does.

Within the 4 Ps marketing mix, you can morph promotional ideas from your marketing plan. Which blend of promotional tactics or strategies will work best for your product? Consider possibilities such as advertising on social media, targeted public relations (PR) releases, personal selling campaigns, direct marketing, and sought-after sales promotions.

Prof. Neil Borden. " The Concept of the Marketing Mix ." Accessed June 14, 2021.

Harvard Business Review. " A Quick Guide to Value-Based Pricing ." Accessed June 14, 2021.

By clicking “Accept All Cookies”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.

The 4 Ps of Marketing: How to Apply Them to Your Business

February 28, 2022

by AbdulGaniy Shehu

4 ps of marketing

In this post

What are the 4 ps of marketing , how do the 4 ps of marketing work  , how to grow your business using the 4 ps of marketing .

Marketing a business goes beyond advertising. 

While advertising is important,  you need to consider various other factors to convince prospects that your product or service is exactly what they need.

The 4 Ps of marketing - product, price, place, and promotion - also known as the marketing mix, is a popular marketing concept essential to ensure any business’ success.

This idea dates back to the 1940s, when Neil H. Borden , Professor of Advertising at the Harvard  Graduate School of Business Administration, coined the term “marketing mix”.

Borden identified the 12 components of the marketing mix:

  • Product planning
  • Channels of distribution
  • Personal selling
  • Advertising
  • Physical handling
  • Fact-finding and analysis

Later, in 1960, Edmund Jerome McCarthy , an American professor and author, developed the concept of the 4Ps of marketing in his book "Basic Marketing: A Marketing Strategy Planning Approach".

He summarized the 4 Ps as follows:

  • Product: A good or service
  • Price: The amount a customer or consumer pays for a good or service
  • Place: The location where you market a good or service
  • Promotion: How you advertise a good or service

McCarthy published his book 50 years ago, but many marketers today rely on his approach to grow their businesses and train their teams.

The first P of marketing: product

A product is a value your company creates and what people pay you for. It can be tangible (like goods) or intangible (like consulting services).

A product is the most important part of the marketing mix. Without it, you have nothing to sell. Consumers today have countless options to choose from. So if your product isn’t noticed, it’ll most likely lose to another competitor.

The 4 Ps of marketing emphasize creating a unique product. This allows you to stand out against competitors and get customers to trust you.

What does it take to build an amazing product?

If you want people to use your product, create something they love, and stand a better chance of competing.

So, how do you build a great product?

Former Evernote CEO Phil Libin highlighted two characteristics of great products.

  • Great products have a point of view. They aren’t neutral. So, the creators have a specific perspective of how the world should work through this product.
  • Great products don’t rely on the user to do anything. They should reduce or eliminate the amount of work a user needs to get things done.

Apple, the first publicly-traded company to reach $1 trillion , is an example of a great product. 

One of the things that made their product stand out was that the company's founders, Steve Jobs and Steve Wozniak, set out to make computers user-friendly. This vision was and still is at the company’s heart and has distinguished it despite the intense competition in the technology industry.

How would you know if the market wants your product?

Building a great product is good. Guess what’s better? A product that the market actually wants. 

Simply put, if no one’s interested in your product, it won’t stand the test of time, no matter how great it is.

This is why performing in-depth market or user research before building any product is important. Proper preparations help you know what people want and don’t want.

If you want to go after a specific market, you can create an online survey to see if your target audience is interested in your product. This will help you identify pain points and know if the product you have in mind will solve them.

Let's say you want to build a team collaboration software for B2B offshore development agencies. Instead of directly building the minimum viable product (MVP), create a survey targeting your ideal audience. You can ask them various questions to confirm if you should proceed with a specific idea.

Another way to know if your product is in demand is to look at how it’s trending online. Here’s how a free tool like Google Trends can help you.

Google trends

As you can see, searches related to remote work have been growing steadily in the last five years. This shows that a remote-work product will most likely perform well in the market.

The second P of marketing: price

The price can be defined as how you capture your product’s value. This is simply the amount your product or service is worth and what the market is willing to pay for it.

While pricing seems simple on the surface, it’s difficult to estimate. As a marketer, you want to choose a price that’s attractive to your consumers, generates sales, and ensures your business is profitable.

Conduct audience analysis . The demographics and your audience's perception of your product also affect pricing. For example, if you run B2C software for college students, you’ll likely charge a lower price. Alternatively, if you offer B2B software for enterprise companies, you set a premium price for it.

If you charge college students a higher price, chances are they won’t go for it. They may not take you seriously if you charge enterprises a cheaper price.

How to determine the right pricing for your product

When pricing your product, you don’t want to underprice yourself and end up with less profit. Also, you don’t want to overprice your product and chase customers away. 

Here are some things to keep in mind so that your pricing best suits the product.

Know your niche 

Before setting a price, you need to learn more about your industry. Check your competitors' prices and how they change over time. You should also understand what your target audience thinks about your product.

Set the goal for your pricing

You need to reason out before you price your product. Are you looking to penetrate a competitive market or establish yourself as an industry leader? 

If you’re new to an industry, starting with a low-pricing strategy might make more sense. However, if you’re selling a premium product, a higher price might appeal more to your target audience.

Conduct in-depth audience research

Some products serve one single audience persona; others work for different audiences. If you can create different audience segments , that could help you create pricing that resonates with each of them.

Calculate costs 

You incur direct and indirect costs when creating a product. Before determining your price, make sure that it covers these costs. That way, you won’t run at a loss. 

Let's say you run a web development agency, and it costs you around $499 to design a WordPress website from scratch. This includes the hosting fee , development costs, hiring costs, etc. To break even, your pricing must be above $499. Else, you would be running your agency at a loss.

Think about other factors 

Aside from the direct and indirect costs, other factors might affect your pricing as well. For example, paying a value-added tax (VAT) for the end product will influence your pricing.

Pricing strategies that work for different products

Confused about the pricing strategy for your product?

Here are different pricing strategies available and how to use them for different types of business.

The third P of marketing: place

If no one knows about your product, they won’t use or recommend it to others. This is where place, the third p of marketing, comes into play. The place is the location where you deliver value to your target audience. It’s also where your target audience hangs out.

If you’re a local business serving people who live in a particular city, your local marketing will be limited to that city alone. So, a local radio station that most people in your city listen to might work well for you in this case.

With the internet, a lot of activities have gone online. So, the best way to find your target audience is online.

How to identify the right place to sell your product/service

The first thing you need to do is determine your target audience. That's because if they're not where you're looking, it might be difficult to sell to them. The best way to find out is to reach out to your new and existing customers to get the information from them.

Here are some questions you can ask them to help unravel these locations:

  • Where do you go for advice and information regarding the {x} industry?
  • What are some of the top industry blogs you read?
  • Which publications, newspapers, or magazines do you read weekly or monthly?
  • What online communities, Facebook groups, LinkedIn groups are you a member of?

The different places you can leverage for any type of business

Depending on your type of business, here are a few places to convey the value of your product to your audience.

Social media platforms

Social media continues to grow every day. There are now around 4.55 billion social media users in the world . This means that social media is a great place to reach your target audience faster.

When using social media, you should understand the demographics and behavior of your target audience. If you want to target C-level B2B executives, LinkedIn might make more sense than Instagram. If your audience is mostly Gen Z who are still in college, Tiktok might work better for them.

Online communities and forums

Online communities and forums are great, too, depending on the type of business you run. Take Reddit as an example. The gaming subreddit has around 31 million members, while the technology subreddit has more than 11 million members. 

If you have a technology-related product or service, these are great places to turn to. That's because most of the people on these subreddits are also interested in learning from others and discussing these topics.

Other online communities to leverage are Facebook groups, LinkedIn groups, Slack communities, Quora spaces, and so on.

Review websites

Most users want to read other people's experiences about a product or service before purchasing. For this reason, review websites are a great way to convey your product’s value to your target audience.

If you're a local business owner, you can create a profile on Yelp to showcase your business to your audience. If you have a software or services company, you can use the power of G2 to show prospects what customers think of your product.

Apart from helping you collect reviews and testimonials from existing customers, review websites also make your product or service discoverable in the search engines.

The fourth P of marketing: promotion

The final and most popular marketing mix is ​​promotion. This is simply how you communicate the value of your product or service to your target audience.

Promoting your value is important because your audience’s perception determines whether or not they want to use your product or service. One of the most effective ways to communicate this is by talking about your product. 

While many business owners are afraid to promote their products because they don't want to sound salesy. However, if you have a great product and aren't actively promoting it to your target audience, you're doing them a disservice.

Here’s a quick example. 

Let's say you're a software company competing in a crowded niche. One of the ways to help your audience discover your product is to use a pain-point content marketing strategy .

This way, you can show your target group why they should use your product over other options. You can do this by creating a comparison post, alternative page, best {X} products page, and more. And you have a better chance of converting people who stumble across these pages into user sign-ups and paying customers for your SaaS.

That means if you don't tell anyone about your product or show them why it's better than other competitors, they won't find or use it.

How you should approach promotion for any business

The best way to promote your business is to understand your audience's pain points and create content that helps solve these problems.

For example, if your target audience is CMOs who want their marketing teams to be more productive, creating a content piece that shows them tips and tools for improved productivity works wonders. And if you have a relevant service or product to solve this problem, you can mention that as well.

The truth is, when you help people and add value to their lives, they pay attention to you and are likely to pay you to solve their problems.

Promotion strategies that work and how different companies use them

Below are some promotion strategies you can leverage for your business.

Search engine optimization (SEO)

One of the most reliable and proven ways to promote a business online is SEO . It allows you to optimize certain web pages to rank in search engines, especially Google.

SEO determines how your page or website appears when someone searches for keywords relevant to your product or service. This is effective as many people search on Google every day. In fact, Google processes over 4 billion searches per day .

The downside of SEO is that it usually takes a long time to deliver results that amplify over time. A good example of a company leveraging SEO to promote its business over the years is HubSpot. HubSpot's blog receives about 8 million visitors from organic traffic each month and ranks for about 3 million keywords.

Hosting webinars is an effective way to promote your business online. This works really well because it involves interacting live with prospects and customers.

Seventy-six percent of businesses believe hosting webinars helps them reach more leads, and 69% believe it has helped them scale their marketing efforts.

The disadvantage of webinars is that it takes a lot of resources and time to create one. If you're not good with videos, it might not work well for you. The advantage over other advertising channels is that it leads to more conversions. For example, if someone attends a webinar for 45 to 60 minutes, they’re more likely to be convinced to use your product or service.

One company that has harnessed the power of webinar tools to boost its business is Monday. They have a daily webinar hub on their website. You can register for a live and on-demand webinar from the company. They also have webinars in other languages ​​to cater to their non-English speaking audience.

Google Business Profile

Google Business Profile (formerly Google My Business ), is another effective promotional strategy for business owners. This is highly beneficial for local businesses serving a specific audience in a city, state, or county.

Anyone with a Gmail account can easily create a Google listing. Once you create and optimize this profile, your business shows up on Google when someone searches for it near you.

With this tool, you can know how customers found your business and what actions they took before contacting you. You can also interact with them, share images of your products, and easily get reviews.

The benefit of using this free tool is that it's easy to set up. However, if you're in a location with a lot of small businesses, it can be difficult to get a foothold quickly.

Paid advertising

Paid advertising is another great way to promote a business online. When you advertise, you reach your audience right where they are and convince them to use your product or service.

You can use various advertising channels to promote a business, including:

  • Paid search: Bidding on keywords that your audience is searching for on Google. In this case, your website shows up in the search engines when someone searches for the keyword you bid on.
  • Paid social: Run ads on various social media platforms like Facebook, LinkedIn, Twitter, Instagram, and Pinterest. Paid social helps your ads reach a specific audience based on your selected targeting options when creating the ads.
  • Podcast sponsorship: Reach out to popular and relevant podcasts in your niche to sponsor them. Once sponsored, the Podcast host mentions your product or service before, during, or after the Podcast’s episode.
  • Newsletter sponsorship or advertising: Sponsoring a newsletter in your niche to reach readers. The newsletter can mention your product or service before the body or within the newsletter, depending on the agreement.

With paid advertising, you can reach your target audience quickly and, in most cases, see ROI immediately. However, these don’t add up. Once you stop promoting, you stop getting results.


About 4.3 billion people around the world use email. This shows that email is a huge promotional channel any business can use. It's a personal communication channel for most people, so they check it regularly.

You may see excellent results by creating valuable and helpful content for your audience and delivering it via email. 

Other promotion channels include:

  • Virtual events
  • Medium publications
  • Community marketing

When the 4 Ps of marketing work together, it becomes easier to deliver predictable results for your business. You need to be consistent with your marketing across the board. Otherwise, you risk losing your audience’s trust.

For example, if you sell a high-quality B2B product, promoting it on TikTok can bring poor results. This is because a B2B audience may not even know a platform like TikTok exists, so they don't go there.

Also, if you’re just starting in an industry, you may need to spend more time promoting your products or services. This may not be the case if you are a market leader in your niche.

The illustration below shows how to apply the 4 Ps of marketing in any business.

4ps of marketing

To grow a business successfully, you need the 4 Ps of marketing. First, you should have a clear idea of ​​what you’re selling and why it’s different from anything else out there.

Here are some fundamental questions to ask:

  • Who is the target audience?
  • What do you want to sell to them?
  • What is your market size?
  • What exactly is the market looking for?
  • What gap in the market does your product fulfill?
  • How is your product different from others?

Second, you need to set the prices for your product. This must match the type of product you’re selling.

At this stage, answer the following questions:

  • How important is the product’s pricing to your target audience?
  • Will the pricing be enough for you to make profits?
  • What are your competitors currently charging for this product?
  • Will your target audience have any problems paying the price? 
  • What is the lowest amount you’re willing to accept for this product?

Additionally, determine where to find your target audience and convey your message and value proposition via those channels.

  • What online habits do your prospects and customers have?
  • Where are competitors currently selling their products?
  • How much does it cost to reach your customers in a specific channel?
  • What kind of support do the customers need before purchasing the product?
  • How seamless is the buying experience?

Finally, promote your product to your target audience.

  • Who exactly do you want to sell to?
  • What channels will you use to reach them?
  • What content marketing strategy would you like to focus on?
  • How are competitors currently promoting their products/services?
  • What resources do you need to do this successfully?
  • What does the buyer journey look like?

More than just the 4Ps

Building a business from scratch is difficult. You need to create a great product that can successfully compete in your niche, set a price point that resonates with your target audience, and grow your business. Additionally, you should also identify places where your target audience hangs out and deliver the expected value.

Leverage advanced marketing strategies to predictably and successfully develop a business in any niche.

Account-based marketing (ABM) software

Identify target accounts on the go

Use ABM software to create unified marketing and sales messaging for your target accounts.

AbdulGaniy Shehu photo

AbdulGaniy Shehu runs Your Content Mart , a results-driven content marketing agency that helps B2B SaaS companies generate qualified traffic and increase user sign-ups. His work has been featured on Entrepreneur, Moz, Smart Insights, Hackernoon, and more.

Recommended Articles

business plan 4ps example

What Is a Marketing Deck? Tips, Examples, and Templates

One of the frustrating things about marketing a brand or business is capturing your target...

by Kai Tomboc

business plan 4ps example

NFT Launch Strategy: How to Enter the Booming NFT Market

The non-fungible token (NFT) market is on the rise, with different projects serving as fuel...

by Yurii Filipchuk

business plan 4ps example

Implementing Product Localization for International Markets

Product localization is one of the first marketing strategies you need to nail when expanding...

by Ilya Krukowski

Never miss a post.

Subscribe to keep your fingers on the tech pulse.

By submitting this form, you are agreeing to receive marketing communications from G2.

4Ps Marketing Mix

4P Marketing Mix Template

Map a marketing mix that meets the needs of your target audience.

About the 4P Marketing Mix template

What is a 4p marketing mix.

A marketing mix comprises the elements an organization might use to execute a successful marketing plan. The term was coined in the late 1940s, and Harvard professor Neil Borden used it in his 1953 address to the American Marketing Association. 

The 4P Marketing Mix Template allows you to map out four controllable factors affecting your company profits: product, place, promotion, and price. By deciding on the mix of these four factors, you can determine the ideal way to take a new product or service to market. Read on to find out more about how this template can help your team

What are the 4 Ps?

The 4 Ps stand for: Product, Place, Promotions, and Price. Let’s look at each one in more detail.

Product: is the tangible good or service that satisfies the target audience’s needs.

Place: refers to where and when the product is available.

Promotions: include advertising, digital marketing, PR, event marketing, direct marketing, personal selling, channel marketing, and alliances.

Price: consists of the policies regarding basic price, upgrades, discounts, coupons, distributor price, etc.

Benefits of marketing mixes 

An effective marketing mix can help your business develop strengths and limit weaknesses, become more competitive, adapt to the market, and collaborate with partners. Specifically, a marketing mix can help your organization answer the following questions: Who is your customer? What problem do they have? What prevents them from solving it? How does your product or service solve that problem? How does your customer or potential customer feel about your competitors? How do they feel about your business? What motivates them to make a purchasing decision? 

When to use a 4P marketing mix

Organizations can develop a marketing mix at any stage of growth. Once you’ve answered the questions above, you can begin to build your marketing strategy.

Create your own 4P marketing mix 

Miro’s simple whiteboard tool is the perfect canvas to create and share your marketing mix. Here’s how to create yours using this template:

Step 1:  Start by selecting this 4P Marketing Mix template. 

Step 2:  Choose a specific product or service to analyze.

Step 3:  Go through each quadrant, adding relevant information in sticky notes or uploading other file types. 

You may also want to color code your sticky notes so you can distinguish between positive and negative points. Once your team is satisfied with the result, you can easily share with other teams to get their feedback.

Get started with this template right now.

Empathy Map Thumbnail

Empathy Map Template

Works best for:.

Market Research, User Experience, Mapping

Attracting new users, compelling them to try your product, and turning them into loyal customers—it all starts with understanding them. An empathy map is a tool that leads to that understanding, by giving you space to articulate everything you know about your customers, including their needs, expectations, and decision-making drivers. That way you’ll be able to challenge your assumptions and identify the gaps in your knowledge. Our template lets you easily create an empathy map divided into four key squares—what your customers Say, Think, Do, and Feel.

Check-in Icebreaker

Check-In Icebreaker Template

Icebreakers, Meetings

Run a dynamic online session with the Check-in Icebreaker Template. Use this icebreaker before your meeting to boost energy levels, connect people, and warm up the room.


Event Planning Template

Planning, Workshops

Whether you’re planning a product launch, fully remote conference, or milestone event, the Event Planning Template will act as a visual checklist and map for all the details you need to consider before the big day. The Event Planning Template is an adaptable way to make sure the creative and strategic vision of your event doesn’t get lost in the details. By mapping out different sections - from the marketing plan, to the agenda, to snacks and swag for guests — you and your team can focus on the details most important to your functions, and collaborate as needed when overlaps occur.

meeting-organizer-thumb-web (1)

Meeting Organizer Template

Meetings, Workshops, Project Planning

When it comes to ideas generated during a meeting, you want quantity AND quality. So why choose? Our meeting organizer template will maximize your meeting’s chances of yielding lots of great ideas. It will give you a simple, efficient way to design any activity (including meetings and daily planning) and make sure remote teammates know just what the meeting aims to accomplish. And you can give your meeting organizer power by connecting Miro to your favorite apps and services: Atlassian’s JIRA, Google Drive, Slack, Trello, DropBox and OneDrive.

Flyer Maker Thumbnail

Flyer Maker Template

Design, Marketing

Whether it’s a client party or a nonprofit fundraiser, your event needs one key thing to be a smashing success: people to show up. That’s why promoting it is such an important part of the planning—and creating and sending a flyer is the first step. These single-page files will grab your guests’ attention and give them the key details, such as the time, date, and location (and if it’s a fundraiser, who/what the funds will benefit). This template will let you lay out text and customize a flyer design.


Product / Market Fit Canvas Template

Market Research, Strategic Planning, Product Management

The product/market fit canvas template is used to help product teams meet customer and market needs with their product design. This template looks at a product in two dimensions: first, how the product fits user needs, and second, how the fully designed product fits within the market landscape. This combined metric understands a product holistically from the way customers use and desire a product, to the market demand. By comparing customer and product qualities side by side, users should better understand their product space and key metrics.

  • Online Degree Explore Bachelor’s & Master’s degrees
  • MasterTrack™ Earn credit towards a Master’s degree
  • University Certificates Advance your career with graduate-level learning
  • Top Courses
  • Join for Free

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

Learn what the 4 Ps of marketing are and how to use them to market a product or service.

[Featured image] A digital marketer in a white lace shirt sits in front of a laptop computer reviewing the 4 ps of marketing for a new product launch.

The four Ps — product , price , place , and promotion — are key elements of marketing a product or service. These elements are considered part of a “marketing mix,” a combination of factors a company controls when creating a marketing strategy.

There are many possible components of a marketing mix; the four Ps are the most common, foundational factors to a successful marketing plan. In this article, you will learn more about their purpose and history and find a detailed breakdown of the four Ps.

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

The four Ps are product, price, place, and promotion. They are an example of a “marketing mix,” or the combined tools and methodologies marketers use to achieve their marketing objectives.

The 4 Ps were first formally conceptualised in 1960 by E. Jerome McCarthy in the highly influential text, Basic Marketing, A Managerial Approach [ 1 ]. There, McCarthy noted that while the book's text was “similar to that found in the traditional texts, the approach is not.” 

McCarthy’s novel approach was influenced by the still-recent “marketing mix” concept, which Harvard Business School professor Neil. H. Borden popularised in the 1950s. In fact, Borden himself had been influenced by a 1948 study written by James Culliton, in which the author equated business executives to “artists” or “mixer[s] of ingredients” [ 2 ]. Rather than using the same approach for every situation, Culliton and Borden recognised that successful executives instead mixed different methods depending on variable market forces. 

McCarthy streamlined this concept into the four Ps—product, place, price, and promotion—to help marketers design plans that fit the dynamic social and political realities of their time and target market. In effect, the purpose of the four Ps remains the same today as when McCarthy first published his book: “developing the ‘right’ product and making it available at the ‘right’ place with the ‘right’ promotion and at the ‘right’ price, to satisfy target consumers and still meet the objectives of the business” [ 3 ].

The four Ps

The four Ps form a dynamic relationship with one another. Rather than one taking priority over the other, each is considered equally important in crafting a strategic marketing plan.

The product is the good or service being marketed to the target audience.

Generally, successful products fill a need not currently being met in the marketplace or provide a novel customer experience that creates demand. For example, the original iPhone filled a need in the market for a simplified device that paired a phone with an iPod.    

As you are working on your product, it is essential to consider your target audience and their unique needs. Some questions to consider when working on a product include: 

What is your product? 

What does your product do? Does the product meet an unfilled need or provide a novel experience? 

Who is your product’s target audience? 

How is your product different from what others offer?

Price is the cost of a product or service. 

When marketing a product or service, it is important to pick a price that is simultaneously accessible to the target market and meets a business’s goals. Pricing can have a significant impact on the overall success of a product. For example, if you price your product too high for your targeted audience, very few will likely purchase it. Similarly, if you price your product too low, then some might pass it up simply because they are concerned it might be of inferior quality and cut into your potential profit margins. 

To identify a successful price, you will want to thoroughly understand your target audience and their willingness to pay for your product. Some questions you might ask yourself as you are considering your product’s price include:

What is the price range of your product’s competitors? 

What is the price range of your target audience? 

What price is too high for your audience? What price is too low? 

What price best fits your target market?

Place is where you sell your product and the distribution channels you use to get it to your customer. 

Like price, finding the right place to market and sell your product is key to reaching your target audience. If you put your product in a place that your target customer doesn’t visit—on or offline— you will likely not meet your sales target. The right place can help you connect with your target audience and set you up for success. 

For example, imagine you are selling an athletic shoe. Your target market is athletes in their early twenties to late thirties, so you decide to market your product in sports publications and sell it at specialty athletics stores. By focusing on sports stores over shoe stores in general, you target your efforts to a specific place that best fits your marketing mix.  

To decide the best place to market and sell your product, you should consider researching the physical or digital places where your target audience shops and consumes information. Some questions to consider include: 

Where will you sell your product?

Where does your target audience shop? 

What distribution channels are best to reach your target market?

Promotion is how you advertise your product or service. Through promotion, you will get the word out about your product with an effective marketing campaign that resonates with your target audience. 

There are many different ways to promote your product. Some traditional methods include word of mouth, print advertisements, and television commercials. In the digital age, though, there are even more marketing channels that you can use to promote your product, such as content marketing, email marketing, and social media marketing.  

Some questions to consider as you are working on your product promotion include: 

What is the best time to reach your target audience? 

What marketing channels are most effective for your target audience? 

What advertising approaches are most persuasive to your target audience?

Other marketing mixes

The four Ps aren’t the only marketing mix used today. Some other modern marketing mixes include the five Ps, the seven Ps, and the 5 Cs. Although each reflects certain aspects of the four Ps, they also possess some unique elements that alter their emphasis on the marketing process. 

The five Ps

The five Ps are product , price , place , promotion , and people . 

Today, many marketers use the five Ps over the four Ps because it centres the experiences of customers and staff in the marketing process. Typical considerations include how a customer behaves, their product experience, and overall satisfaction with the business.

The seven Ps

The seven Ps are product , price , place , promotion , people , processes , and physical evidence . 

The seven Ps further elaborate the five Ps, adding considerations of the processes defining the customer experience and the physical evidence the target market needs to see to become customers. While processes might involve the specific customer service processes that define a product, physical evidence can be websites or store displays that help the target market imagine themselves using the product.

The five Cs

The five Cs are customer , company , competition , collaborators , and climate . 

In some respects, the five Cs reflect many of the same concerns of the four and five Ps, but with added emphasis on external factors, such as possible outside collaborations and competitive research. 

Furthermore, while “climate” refers to the social, political, and economic context surrounding the market, “customer” refers to the target market and customer experience. “Company” refers to the place of the company and its available resources in the marketing process.

Build your marketing skills

You can learn some of the most important components of marketing with lessons from the Google Digital Marketing & E-Commerce Professional Certificate . Gain in-demand skills to prepare for a career in marketing as you gain experience with the tools used to implement them.

Digital marketing and e-commerce are rapidly growing fields, and knowledge in these areas is essential to marketing success in business. E-commerce is emerging as an important factor in marketing; global e-commerce sales are expected to grow by nearly $2 trillion by 2025 [ 4 ].

Article sources

Oxford Reference. “ E Jerome McCarthy , https://www.oxfordreference.com/view/10.1093/oi/authority.20110803100143321.” Accessed July 29, 2022. 

Guillaum Nicaise. “ The Concept of the Marketing Mix , http://www.guillaumenicaise.com/wp-content/uploads/2013/10/Borden-1984_The-concept-of-marketing-mix.pdf.” Accessed July 29, 2022.

HathiTrust. “ Basic Marketing: a managerial approach , https://babel.hathitrust.org/cgi/pt?id=inu.30000041584743&view=1up&seq=1.” Accessed July 29, 2022.

Insider Intelligence. “ Global Ecommerce Forecast 2021 , https://www.insiderintelligence.com/content/global-ecommerce-forecast-2021#page-report.” Accessed November 2, 2022.

This content has been made available for informational purposes only. Learners are advised to conduct additional research to ensure that courses and other credentials pursued meet their personal, professional, and financial goals.

Develop career skills and credentials to stand out

  • Build in demand career skills with experts from leading companies and universities
  • Choose from over 8000 courses, hands-on projects, and certificate programs
  • Learn on your terms with flexible schedules and on-demand courses

business plan 4ps example

The 4 P’s of Marketing + Marketing Mix Examples

business plan 4ps example

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. 

What are the 4 P’s of Marketing? 

The 4 P‘s stands for: 

  • Price 
  • Place 

All aspects of marketing can be categorized under one of these 4 terms. According to conventional marketing wisdom, optimizing each of these 4 categories is a successful strategy for marketing. 

4ps of marketing

Marketing Mix Definition 

Because each of t he 4 P’s are supposed to work together like ingredients in a recipe, the 4 P’s are also called The Marketing Mix.

What is the marketing mix? Just your business’s unique blend of the 4 P’s to create your own custom recipe for marketing success. 

History of the 4 P’s 

The term “marketing mix” came first, when Harvard professor James Culliton used the recipe metaphor to describe the components of marketing in a 1948 paper. The book The Concept of the Marketing Mix further refined the idea and by 1960 the elements had been reduced to the 4 P’s we know today. 

This concept has proved remarkably useful through the decades, even as businesses move increasingly online. 

The First P of Marketing: Product + Example 

Defining your product is the first step in determining your unique marketing mix. What do you sell or provide to the customer? 

This can be a physical product like cars or hair accessories; a service like business consulting, or even a digital product like a membership to an online forum. 

The marketing mix 4P approach suggests that you clarify your product as much as possible by defining the following attributes:

  • Who is my target customer?
  • What are they searching for?
  • How does my product meet their needs? 
  • What makes my product distinctive? 
  • What makes my product stand out from competitors? 
  • What are my product’s features? 
  • What are my product’s benefits? 

This will help you craft the most appealing description of your product and drive more consumer interest and sales. 

4 P’s of Marketing Example: Product 

Let’s take a barbershop that caters to families with young children. Their product is - obviously - haircuts. 

fun haircuts

Applying the 4 Ps, the barbershop might describe its product this way:

“ We know your kids may be nervous about a new haircut. We offer a fun, no-pressure shop where your kids can watch their favorite cartoons from our custom-painted chairs. Our trained stylists can give your little ones the latest style or just a trim quickly and easily. It’s so much fun, your kids will want to come back every week!”

In this example, the barbershop is offering a very ordinary product -haircuts. But they know that their target customers are parents who are worried about their children not sitting still for haircuts. Therefore, they position their product as unique - a “fun” haircut. 

The Second P of Marketing: Price + Example 

Much ink has been spilled determining the pricing sweet spot for any given product. The marketing mix strategy acknowledges that different businesses will use different pricing strategies. 

  • Premium pricing - especially for “luxury” or “premium” brands
  • Undercutting competitors 
  • Offering a loyalty program
  • Offering purchase points redeemable for rewards 
  • Coupons 
  • Sales 
  • Free shipping 
  • Bonus offers/free gift with purchase 
  • Entry-level pricing 
  • Accepting credit or pay-later systems 
  • Financing 

4 P’s of Marketing Example: Pricing 

Google now offers a range of smartphones that are positioned to compete with the iPhone. 

Google Pixel Phones

We can see that Google is using several pricing strategies here to promote the Pixel: 

  • Trade-in old phone for purchase credit
  • Free shipping
  • Added products (phone protection; Google One storage) 

As part of the 4ps, Google is choosing pricing strategies that will appeal the most to its customers: those who want a good phone but still want a deal and those who want easy integration with their existing Google products. 

The Third P of Marketing: Place + Example 

Since a big part of the marketing mix definition is place, it’s not a relevant concept in the digital age, right? Not quite. 

Keep in mind that some businesses will always be local: you can’t hire a remote plumber, for example. 

Furthermore, around 70% of Americans say that shopping locally is important to them. So actual geographic location is still quite important. 

That said, over 80% of consumers worldwide shopped online. Unquestionably, customers are online. But located exactly where online will be a key to deciding where to place your product’s promotion.

The Third P of marketing refers more to where your product is marketed than your actual physical location. This means finding where your customers spend time online and placing your product there. 

Do your target customers frequent any of the following sites:

Determining this will rely primarily upon your demographic research, but competitor research can help too. 

Are your competitors placing their products on Facebook? Have they ignored Instagram because your audience doesn’t spend time there, or is this an opportunity for you to locate your product near customers but away from competition? 

4 P’s of Marketing Example: Place 

Popular skincare brand Curology uses the marketing mix to reach its target customer on social media. The company’s headquarters is in San Francisco, but that is irrelevant to the “place” component 4P. 

Curology sells customized skincare 100% online, so it places its promotions where customers are - social media. 

Take a look at the promoted ad from Facebook below:

Facebook Ad

This ad uses the marketing mix concept well because it summarizes the product by highlighting a few of its key benefits - it's customizable, and it’s delivered to you (which means convenient). 

The ad is placed on a site that people check almost reflexively, so they are likely to see the ad and follow it for more information on the brand. 

Next, we’ll turn to the final element of the marketing mix definition: promotion .

The Fourth P of Marketing: Promotion + Example 

The 4Ps wouldn’t be complete without promotion. This refers to how you reach your customers and what strategies you use to incentive purchases.

This may include some of the following tools and types of digital marketing : 

  • Search engine marketing
  • Direct emails
  • Targeted ads
  • Content marketing 
  • Word of mouth
  • Influencer marketing
  • Billboards 
  • Direct Mail 
  • Radio 

Anything that gets your product in front of your target audience is part of your marketing strategy. 

Now, many new businesses are inclined to go for all the promotion strategies.

As any seasoned marketer can tell you, this is a waste of time and effort. It’s better to research which strategies work best for your product and audience and build quality promotions. 

Remember, The 4 Ps of marketing maintain that each business has its own unique recipe. Just because billboard advertising works great for the auto repair shop down the street doesn’t mean it will work for your marketing consulting firm. 

4 P’s of Marketing Example: Promotion 

Email marketing is an effective strategy, with studies showing it has some of the highest return on investment of all digital marketing strategies. 

Here is how an online vitamin company, Puritan’s Pride, used email marketing over a holiday weekend sale: 

Promotion Example

In this image, you can see how the company is using price to incentivize a sale in the form of 75% off. 

The promotion comes as an email. These are quickly skimmed, so this promotion is visual and easy to scan, relying on images rather than text to get its message across quickly before the potential customer moves on to a different email. 

Do You Know the 4Ps of Your Business?  

Does your business have a well-defined marketing mix? Here are some ways you can tell:

  • Your marketing goals are clearly defined 
  • You have a strong brand voice
  • You know what percentage of business occurs in-person and online
  • You know what online channels your customers frequent 
  • You are clear about your product(s) benefits
  • You’ve invested in market and competitor research
  • You have chosen your distribution channels
  • You have a clear pricing strategy

If your business is fuzzy on some of these basics, you probably need to revisit your unique marketing mix. 

How to Apply the 4Ps in Your Own Business 

So - what is the marketing mix you should be using? 

Your marketing mix may be different for any given product or phase of your business growth. Ideally, you will be determining your mix before you even finish developing your first product.

This is because you want to make sure you are actually offering something customers need. 

Step 1: Research: Customers, Competition, and Market

  • What products or services are people looking for?
  • Is there dissatisfaction with the current offerings? 
  • How can you offer something distinctive?
  • What is your competition doing well and poorly? 

Step 2: Determine your Pricing Strategy

  • Will you position your product as a luxury/premium offering?
  • Will you undercut existing prices?
  • Do you plan to offer customer loyalty incentives?
  • Do you plan to offer free services or loss leaders?
  • Do you anticipate raising prices over time? 

Step 3: Placement 

  • What are your primary distribution channels?
  • Online, in-person, or hybrid purchase offers?
  • Will you need a physical location for promotion?
  • Do you plan to work through wholesalers and retailers?
  • What online channels will you place your ads on? 

Step 4: Determine Promotional Strategies 

  • What is your promotional budget? 
  • Do you have a digital promotion strategy?
  • What promotions are most effective with your target audience?

These are a lot of questions to ask. The more time and thought you can invest in the front-end of developing a new product, the more specific you can be about your approach to business. 

Ultimately, this means you can more effectively track the success of your chosen strategy and determine what is and is not working. 

Case Study: The 4Ps of SEOptimer.com 

Since we are a marketing company, after all, let’s use the SEOptimer website as an example of the 4 P’s at work. 

4 P’s of Marketing: Product 

SEOptimer offers numerous tools to make online marketing easier. One of our key products is the SEO Audit and Reporting Tool.

SEOptimer landing page

The headline of this page immediately tells visitors what they will get: a free, comprehensive SEO audit of their URL. When visitors scroll down, they learn the features and benefits of this product. 

Search Engines rely on many factors to rank a website. SEOptimer is a Website SEO Checker which reviews these and more to help identify problems that could be holding your site back from its potential.

Additionally, we provide a clear, actionable, prioritized list of recommendations to help improve.

This further defines the value of the product for potential customers and increases their chances of trying it out. 

4 P’s of Marketing: Price 

SEOptimer offers the free SEO audit tool (and lots of other SEO tools), as part of a “freemium” strategy. This means that our tools are freely available, but advanced features require a paid subscription.  

This is a pricing strategy. We also offer paid SEO consulting services. Customers use our free tools, which builds their confidence in us as digital marketing experts. If they need professional services, they are then more likely to turn to our company. 

4 P’s of Marketing: Place

Since our products are digital, they are accessible from anywhere in the world. For a company like ours with a global reach, “place” is more about reaching customers digitally. 

SEOptimer Twitter

Maintaining a strong presence on multiple social channels is one way we do this. Another is by focusing on our SEO strategy, which reaches costumes across the world, rather than in one limited geographic location. 

4 P’s of Marketing: Promotion

While SEOptimer uses multiple promotional strategies, one good example is our organic search strategy.

Not only do we provide free and paid SEO tools, but we also offer valuable guides, articles, and how-tos to our customers. 

This content is indexed by Google and other search engines, making it more likely that potential customers will find our content, read it, and then engage with our brand. 

SEOptimer Blog

The 4P’S - Find Your Custom Marketing Recipe 

The 4 P’s of marketing have successfully guided marketers for over 6 decades. Far from being obsolete, combining these 4 elements is a tried-and-true method of defining your business’s overall goals and strategy. 

Try this exercise today: see if you can clearly define the 4 P’s for any given product in your company: 

If you’re clear on these 4 elements, then chances are you have the marketing mix for your business mastered. 

business plan 4ps example

Adam Krzywda

SEOptimer's CEO and venerable leader. Adam has a wealth of experience across Digital Marketing, SEO and software, and enjoys sharing his learnings from growing SEOptimer to an audience of over 100,000 monthly users.

business plan 4ps example

SEO Audit & Reporting Tool. Improve Your Website. Win More Customers. Get a Free Website Audit Instantly

Featured Articles

Recent articles, related articles.


SEOptimer - SEO Audit & Reporting Tool. Improve Your Website. Win More Customers. Get a Free Website Audit Instantly

Home > Marketing > Sales

What is the 4P Marketing Matrix?

Micah Pratt

We are committed to sharing unbiased reviews. Some of the links on our site are from our partners who compensate us. Read our editorial guidelines and advertising disclosure .

The principle of the 4P Matrix is that marketing decisions usually fall into four controllable categories: product, place, price and promotion. Carefully positioning your product in each category will generate the greatest response from your target market.

The 4P Matrix dates back to the 1960s, and is arguably the most frequently used marketing mix matrix because it’s simple and it works. This marketing mix matrix can help you define your options and identify marketing strategies , whether you’re planning to launch a new product or you’re evaluating an existing one.

As a small business owner, learning to use the 4Ps successfully gives you an advantage over the competition—and that’s good for your bottom line.

The 4Ps of marketing: product, price, place, and promotion.

Considerations include: benefits, features, and product interaction From the most basic to extremely detailed, there are a number of questions to ask when making product marketing decisions. Here are a few of the most important:

  • What need does your product satisfy? What problem does it solve, or what challenge does it help the customer overcome? In other words, what will the customer gain by using your product? How will it benefit him or her?
  • What features does the product have that help it meet the needs of your customer?
  • What is your product’s competitive advantage? How is your product different from your competitors? Why should the customer buy your product instead of your competition’s?
  • Let others interact with your product, and then ask if it includes any features that aren’t really useful. Also, ask if there are features the product should offer, but doesn’t.

Under what circumstances do you anticipate the customer with interact with the product? How and where will they engage with it?

Real life example: In Coca Cola's case, they have a wide product range, and many of them have been invented due to the needs of their audience (caffeine-free, zero-sugar, etc). They have adapted well to the concerns of the public regarding their original sugary drinks and continue to be a very valuable brand.

business plan 4ps example

By signing up I agree to the Terms of Use and Privacy Policy .

Considerations include: location, how to get product into the market , and distribution Questions to ask about place range from how it will be distributed to what market it will be found in. Here are a few questions to get you started thinking about place:

  • Where will your potential buyer look for your product? Will it be found in a brick and mortar store, in a catalog, only on the web or a combination of one or more locations?
  • If your product will be sold in a brick and mortar store, what characteristic will the store have? For example will it be sold in a boutique, or sold through a discount store? Will it be found in a house wares store, grocery store, children’s store, etc?
  • What is your plan for getting your product into the market.
  • Will you sell directly to your customers or use a distributor or a sales team?

How will you manage inventory?

Real life example: With Coca Cola, they have a wide network of distributors that sell their products across the world. This includes in grocery stores, gift shops, cafes, and restaurants. 

business plan 4ps example

Considerations include: price strategy, discounts, and profit margin When considering what price to set your product at, remember that your customer must perceive value in your product and that means you won’t win customers on price alone. Consider these questions when trying to set your product price:

  • What amount does your competition sell the product for? Are you able to set and maintain a competitive market price? How will your price compare to your competitors?
  • Will you offer discounts or buying advantages? Will you offer a loyalty program or rewards program?
  • Will your product be offered at more than one price point? If so, why?
  • What is the lowest price you can set for your product and still maintain the profit margin you need?

What part or process is the biggest contributor to the product’s retail price? Can you do anything to lower the cost of that part or process?

Real life example: Coca Cola is known for it's competitor pricing, meaning it prices its products according to its competitors (Pepsi). They also offer different price points based on location.

4. Promotion

Considerations include: marketing channels, marketing strategy , and seasonality Even the best products won’t sell if your customer doesn’t know about them. When considering how you will promote your product, ask yourself these important questions:

  • By what means will you get your marketing message to your potential customer? For example, will you use direct mail, billboards, the web, social media, etc?
  • When will you start promoting your product and what is your reason for promoting it at that time? Will you promote the product two months before its release? Six months prior?
  • Is the product seasonal? If so, how will that impact when, where and how you promote it?

If you’re using a social media platform to promote your product , when (what day/s of the week and what time/s) does your target engage with that social media outlet? For example, moms who work outside the home interact with social media at different times of the day than college students.

Real life example: There are numerous strategies Coca Cola uses to promote its global brand—from different types of media advertising campaigns to sponsorships and partnerships.

Use the 4P Matrix to analyze your current products as well as any new products you're developing. Make sure to follow up with products periodically to make sure it's still on target with your demographic. The 4Ps model is just one of several marketing mix matrixes that have emerged over the last several decades, but it’s simple yet comprehensive framework makes it one of the very best.

Related reading

  • 4Cs Marketing Model & Why It’s Good for Business
  • 5 Steps to Improve Your Marketing Strategy
  • 9 Top Marketing Strategies for Startups
  • 6 Effective Ways to Engage Your Customers With Social Media Marketing
  • Digital Marketing 101

4Ps of Marketing FAQ

The 4P framework is used to help marketers make decisions regarding their target audience using 4 different variables in the marketing mix.

The 4Ps are product, place, price, and promotion. The 4Cs consist of customer, cost, communication, and convenience.

The 4Ps take a producer-oriented approach to marketing, while the 4Cs take a customer-oriented approach.

First, identity the product or service you're working with. Then, go through each variable and answer the relevant questions. Keep asking questions until you feel you've satisfied your marketing mix. 

Jerome McCarthy invented the framework (also referred to as the producer-oriented model) in 1960.

At Business.org, our research is meant to offer general product and service recommendations. We don't guarantee that our suggestions will work best for each individual or business, so consider your unique needs when choosing products and services.


5202 W Douglas Corrigan Way Salt Lake City, UT 84116

Accounting & Payroll

Point of Sale

Payment Processing

Inventory Management

Human Resources

Other Services

Best Small Business Loans

Best Inventory Management Software

Best Small Business Accounting Software

Best Payroll Software

Best Mobile Credit Card Readers

Best POS Systems

Best Tax Software

Stay updated on the latest products and services anytime anywhere.

By signing up, you agree to our Terms of Use  and  Privacy Policy .

Disclaimer: The information featured in this article is based on our best estimates of pricing, package details, contract stipulations, and service available at the time of writing. All information is subject to change. Pricing will vary based on various factors, including, but not limited to, the customer’s location, package chosen, added features and equipment, the purchaser’s credit score, etc. For the most accurate information, please ask your customer service representative. Clarify all fees and contract details before signing a contract or finalizing your purchase.

Our mission is to help consumers make informed purchase decisions. While we strive to keep our reviews as unbiased as possible, we do receive affiliate compensation through some of our links. This can affect which services appear on our site and where we rank them. Our affiliate compensation allows us to maintain an ad-free website and provide a free service to our readers. For more information, please see our  Privacy Policy Page . |

© Business.org 2023 All Rights Reserved.

Conceptboard Logo black

What are the 4ps of marketing and why they’re important

4Ps marketing mix

What are the 4Ps of marketing?

The 4Ps of marketing is a simple way of thinking about marketing plans across four main areas: product, price, place, and promotion.

This ‘marketing mix’ can help you formulate a plan to ensure the introduction of your product or service to the market is successful. It’s important to always put the customers needs at the center of your marketing plans. This will ensure you are always delivering a product they actually want, not what your company wants. 

While it’s an essential step in any product launch, it’s not easy. A well thought-out marketing mix can lead to huge sales, while overlooking just one tiny element could spell disaster. Imagine if you were trying to launch a new steak restaurant during Vegan week, or you planned on launching a new toy after the Christmas period. Taking the time to create this plan with your team can help you in the long run.

So let’s take a look at what the 4Ps are:

Definition of the 4Ps of marketing

Product: Define what exactly is the product/service you are offering, and what benefit it will give customers. Plus, why will it stand out compared to existing competitors in the market.

Place: Where will potential customers go to learn about and purchase your product. This covers the distribution channels, sales outlets and e-commerce markets.

Price: How much will this product be sold for, and how does this compare to competitors in the market. 

One rule of thumb from Neil Patel is: If you are in a new space or already a leader, you can charge a premium amount. If your space is saturated and you are late to the market, you’ll want to consider having a cheaper price.

Promotion: Where, when and how will you advertise your product to ensure it reaches your target audience.

4Ps of marketing template

The 4Ps model is a simple way of capturing and filtering through your ideas during the planning phase. Whether you are working alone, in a distributed team, or collocated, using an online template makes it easy for everyone to participate, and store your ideas for future reference. Follow the steps below to start defining your marketing mix using our template:

  • Invite your team members to join the Conceptboard template by sending them a link.
  • Collaborate together on identifying the product or service you want to work on.
  • Go through each of the four sections, encouraging all participants to add their ideas using the existing sticky notes or add more as ideas progress.
  • Once the template is full, you can further evaluate points by asking Why? or What If? to determine their importance or flow-on effects.
  • The final step is to review and make sure the elements all meet your customer’s needs. You can do this by asking questions from the customer’s perspective: -Does the product meet a current real need? (Product) -Do my customers actually shop here? (Place) -Does this price seem valuable? (Price) -Do my customers watch/read this channel? (Promotion)

After the template is approved by all team members. You can begin taking steps to implement those ideas. Remember, this plan is not static, and it can be reviewed and changed as often as necessary to deliver results.

4Ps Marketing Template

Use template

4Ps of marketing example

If you want to see an example of 4Ps marketing mix, check out this example below for Nike.

business plan 4ps example

Now that you understand what the 4Ps are and how to create a marketing mix, it is time to get started on your own. Using our  free temp late , you can invite your team to start collaborating together in real-time, and begin implementing a plan of action to how you are going to differentiate yourself from the competition through a clever marketing mix.

If you want to explore more of Conceptboard’s library of free business strategy templates, check them out here . Plus, our blog is full of helpful advice and tools to ensure your team can adapt to remote working with ease.

First Name *

Last Name *

Company *

E-Mail (business) *

Phone *

Message *

More interesting articles for you

A person next to a board with a prototype or wireframe template

Wireframe Template – A structure to build something great | Free Template

Onboarding journey template

The Complete Guide to Hybrid Employee Onboarding in 2023

Onboarding Template for HR process with Conceptboard

How do we handle the onboarding of new employees at Conceptboard? With Conceptboard!

Your thoughts on, 1 comment . leave new.

Good! But remember each target segment needs a different plan!

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Post Comment

Experience the power of visual collaboration

Experience how Conceptboard boosts your team’s hybrid collaboration and communication.

No credit card

No commitments

Start right now

business plan 4ps example

The Only Course You'll Need To Understand Marketing Like Never Before

How to Get Started with Marketing and Design Your Career in 5 Steps

business plan 4ps example

4Ps of Marketing (Marketing Mix with Examples) The 4Ps of Marketing or the Marketing Mix is one of the most basic concepts taught in Marketing. At the same time, it makes up for an extremely large part of a successful marketing plan. The fact is, the 4Ps of Marketing are really important because they, together, form the marketing strategy of your company. Let me tell you more about it.

Marketing Mix 4Ps Super Heuristics

Marketing mix - the 4Ps of marketing can never be overestimated when it comes to determining the success or failure of a marketing campaign.

In this article, I will explain to you what is marketing mix and also each of the 4Ps of marketing mix. Not just that, I will share with you four examples of how each of these elements of marketing mix makes a lot of difference in marketing.

Before that, let’s ponder over something basic. And also let me tell you what all I will be covering in this detailed article on the 4Ps of Marketing.

Let me begin by telling you, what exactly is Marketing Mix all about?

What is Marketing Mix? 

Marketing Mix is ideally a brilliantly coordinated combination of Product, Price, Place and Promotion strategies.

I wrote about marketing it in detail in my blog post titled ‘But really, what is Marketing?’. In simple terms, you could say marketing is about “ putting the right product in the right place, at the right price, at the right time”.

That is what it really is.

That one statement defines everything, from what is marketing to what is marketing mix to how to create and deliver an amazing marketing campaign.

4ps of marketing mix

Source: thefinancialbrand . com

If you’re in marketing, you have some basic ingredients that you would use to create some magic out of your marketing plan, these ingredients are called the 4Ps of Marketing or the Marketing Mix.

What is Marketing Mix? Marketing Mix is a set of elements, the 4Ps, that are the four decision-making areas in Marketing . Again, getting any of these elements wrong may destroy the rest of the factors you got right.

This is true because, the 4Ps factors are interdependent and rely on one another for an effective strategy. And if you begin to think, any marketing decision that you take essentially lies in any one of these areas.

business plan 4ps example

4Ps of Marketing and all other basic marketing concepts!

Get access to the expert curated Marketing Flashbook that would give you a quick revision of all the basic concepts of Marketing that you should know for interviews , placements or just for class preparation

What is the purpose of the 4Ps of Marketing Mix?

Its purpose is to ensure the creation and execution of a successful marketing strategy ; the attempt is to satisfy both the customer and the seller. You will often come across your managers telling you to create marketing plans.

And this is what a marketing plan predominantly covers. The purpose is to ensure that every marketing initiative that you take is brilliantly coordinated with each other.

Marketing incorporates all these physical and non-physical, real and perceptual attributes into four elements of the marketing mix.

The 4Ps is basically about asking relevant questions that will help you to define your marketing mix.

4ps of marketing infographic

Let me explain to you each of the elements of the Marketing mix , or the 4Ps of Marketing here. Stay tuned for the later part of the article where I will share with you the examples for each of the 4Ps.


First, it is important to understand the problems your product is trying to solve, because without it, you don’t have a place in the market, and you certainly can’t sell or advertise something that doesn’t exist or doesn’t have any demand.

The key to get this element of the marketing mix correct is by writing down a product definition .

This should include what is your product , what is your target market and most importantly why is your product different from the alternatives out there.

A product can be a physical object, an intangible service, an idea, a campaign or even a personality.

Also, the Unique Selling Proposition of the product must be determined as well as the potential buyers of the product.

There are questions you need to ask when you want to determine the kind of product you should have. They include:

  • What problems can this product solve for customers?
  • What features are included in the products to meet this need?
  • What will differentiate it from the competitor’s own if any?
  • How is it supposed to be used by the customer?

Let me know take you through the second P of the 4Ps of marketing - which is Price .


The price of a product should reflect its value to the customer. This also entails the relative price versus quality level that the product maintains against the competitors.

The marketer’s challenge is to come up with a price that is attractive to consumers while still turning an acceptable profit for the company.

The price of a product will directly affect how it sells . This must be determined by what value the customers attach to the product rather than the objective cost of the product.

If the product is priced higher or lower than its perceived value, then it will be difficult to make sales. Simply put, the value of the product in the eyes of the consumer determines the price.

I have written a series of articles on how to price a product and those articles shall help you with this particular element of the 4Ps of the Marketing mix . Here are some of those posts:

  • How to Price your Product – The Fundamentals
  • How to Price your Product better in 8 Steps (Part 1 of 2)
  • How to Price your Product better in 8 Steps (Part 2 of 2)

Hence, if the value is low or negative , the product may need to be under priced to make sales.

The questions to ask here are:

  • What is the perceived value of the product to the buyer?
  • What is the market fixed price for this kind of product?  
  • How much is your price when compared with the competitor’s?  

Moving on to the third element of the marketing mix and the 4Ps of Marketing - the Place .


There is a way how the product will be provided to the customer , this is the “Place” factor. Once the place has been decided, the marketing channel to reach the customer is chosen.

The place refers to where the product is to be sold (distribution) .

In the past, this meant how visible your product was in the physical marketplace. In today’s modern world: where your product appears on the Internet is even more important because your reach online can be global whilst as your reach in the physical marketplace is limited by physical space.

You can determine this by answering questions like:

  • Where is the first place buyers check when looking for your kind of product. Is it a store, or a boutique, or maybe they check a catalogue?
  • How can you determine the best distribution channels?
  • Do you need to take a multi-channel approach? If yes, then which channels?

And finally, let me tell you about the 4th element of the marketing mix - Promotion .


Promotion refers to the marketing communication methods used to inform, persuade, and remind the target market of the product or services , basically any interaction that your company has with the consumer regarding your product.

This may include advertising, sales, promotions, special offers, and public relations.  Promotion is quite different from marketing, because promotion is the communication aspect of the entire marketing function.

The marketing mix is a crucial tool to help understand what the product or service can offer and how to plan for a successful product offering. 

  • What are the promotion methods of your competitors?
  • Which digital channels does your target market use often?
  • What is the return-on-investment from each of the promotion channels?

After a brief explanation of the Marketing Mix and the 4Ps of Marketing , I am going to talk about them in a more direct and practical way. I explain elements of marketing mix with examples to show you how simple (and impact driven) the Marketing Mix can be.

Marketing Concepts Mastery

Marketing Concepts Mastery Course

Learn the essential marketing concepts. Create the best outcomes from MBA without depending on placements!

Understand the 4Ps and 7Ps of Marketing, Segmentation, Targeting, Positioning, SWOT Analysis and many other important marketing frameworks just like an expert MBA professional would. Solidify your concepts while building a personal brand in marketing

4Ps of Marketing - Video Explanation

Here is a decent video that I found on the 4Ps of Marketing. Purely Branded, explains in brief what the 4Ps of Marketing are all about and how to use them. For all of you who like to watch videos, I suggest you to have a look at it.

4Ps of Marketing - How to develop the Marketing Mix?

If you were to ask me the steps to determine the 4Ps of Marketing Mix , I would suggest to you the following 4 steps.

As you use these four steps in your marketing projects at your college or your work, you will realize that these are the exact steps that will help you bring out the best and the most coherent marketing plans.

4 Steps to Develop the 4Ps of Marketing Mix

  • Identify the product to be analyzed. 
  • Answer the 4Ps questions surrounding this product. 
  • After getting a well-defined marketing mix for the 4Ps, try relating them with the 4Cs (i.e. from the customer's perceptive).      a. Product - Consumer Value      b. Price - Cost      c. Promotion - Communication      d. Place - Convenience
  • Review your marketing mix regularly, because things can change.

4Ps of Marketing - Key Features

I had to write this out as a separate section because of how important it is for you to understand the nuances attached with the 4Ps of Marketing.

Let me share with you the 4 points, the 4 features that will make a lot of difference in your understanding of the marketing mix.

They are Interdependent variables. That is, they have different functions, but they must work together. One can hardly do without the other.

The 4Ps of marketing are flexible in such a way that, you can always play around with each of the variables. See the the 4Ps of Marketing as the four lever that you as a Marketing Manager will have with you to pull and do different things with.

Constant monitoring is required to make sure that the elements in the marketing mix stays relevant and updated. Again, as I mentioned, they are lever you can play around with.

The focal point of the marketing mix activity are the customers . Therefore, as I mentioned in one of the paragraphs above, you should at all times evaluate the 4Ps of the Marketing Mix from the 4Cs stand-point, i.e. the standpoint of the customers.

Elements of Marketing Mix with Examples

In this part of the article, my aim is to give you a feel of the four elements of the marketing mix through relevant real-world examples of the 4Ps of marketing . 

In each of these examples, I will take you through those examples that caught my attention and will help you understand the concepts better.

Product: Coca-Cola Life  

When you come to know that there is a Coca-Cola with the Green Label somewhere in the world and that it is still not sold worldwide you probably think


Most people still find it weird but after years of dominating the market with the product and powerful advertising campaign, Coca-Cola found itself in a world where everyone wanted to feel more sustainable and healthier.

So, after 5 years of research, they came up with the Coca-Cola Life , with less sugar and stevia, a natural sweetener.

business plan 4ps example

After a Market test in Chile and Argentina, the product was launched in different countries of the world.

What does this teach about the first P of the marketing mix?

Well, that products must always respond to the needs of the market .

No matter how strong your starting position is, no matter how strong your marketing is (so strong that in the case of Coca-Cola they influenced the way the Western World sees Christmas), there are moments where you have to start from a product.

Seth Godin said: Don’t find customers for your products, find products for your customers.  

Price: Organic Apples aren’t Cheap  

Pricing doesn’t just mean: go as lower as you can to attack the market.

The Book “Ecological Intelligence” by Daniel Goleman talks of how producers and sellers of organic products must raise prices otherwise none will believe it’s REALLY organic!

This is the concept of Price Positioning on which I happen to have done a blog post some weeks back. 

Same happens with Apple: considering the hardware and the competition they can be defined unreasonably overpriced but if Apple will launch a new iPhone for 200$ the strong Apple fan base most probably will not react in a positive way.

So, choosing one price instead of another can automatically identify your product to your customers. 

Also Read:  Edible Cutlery won't sell until you do this

Place: Don’t tell everyone what you did last Friday  

Another mistake that most people do is trying to get through as many channels as possible . A lot of “improvised” entrepreneurs without any education in that make this mistake to multiply their distribution channels. 

The problem is that people will also judge not just what you sell and how much you charge for it, but also where they see you.

Imagine that in your city there is a club that is famous for being a place where illegal activities happen.

Now imagine you end up there on a wild Friday night and your partner’s dad finds out: won’t he get a really bad impression of you?

At the same time, your friends will think you are a real bad-ass. 

So, the place where you are seen can give you a certain identity according to your target. You want your friends to know where you were Friday night but not your in-laws.

 This is the same reason certain brands decide to only sell in their own stores, others don’t sell online and some only sell online: you have to select your sales channels carefully. 

Promotion: Loud Enough doesn’t mean Louder  

This point can get into thousands of pages without saying anything. With the concept of promotion, you talk about marketing, advertising, sales strategy and a lot more. 

What people hardly understand at the beginning is that in a crowded market like our World, being loud enough to be heard in the constant buzz doesn’t mean being louder than everyone.

So, the promotion has nothing to do with exaggerated claims, fake claims, obsessive  advertising and all these old-school-tricks .

Yes, they still work for others in certain cases, but they don’t give long-lasting positive fame and sooner or later it will ruin your business.

These old tricks work when you didn’t work on the marketing mix for real (maybe because you don’t have anything valuable to sell) so you have to work all with the promotion.

We tend to think that the 4th P is the most important but this is just because it is the tip of the Iceberg. Promotion is what you see more but there is a lot more than you don’t see. 


At the end of the day if you want to succeed in business you have to be looking to create long-lasting relationships with your customers. 

The four elements must be in harmony and none most portray conflicting messages. The marketing mix must be customer-centric, that is why the 4Cs must be used alongside the 4Ps while determining answers to the variables.

  • The price must be a cost the customer can afford
  • The promotion must solely be based on communicating with the customers
  • The product must offer a solution to the problem of the customer
  • The place must be one that is convenient for the customers to reach  

And, just as in your personal life, you don’t create any long-lasting relationships by shouting loud, showing off and lying.

You May Also Like

Types of Market Research

What types of Primary Market Research study should I use?

SWOT Analysis of Starbucks

SWOT Analysis of Starbucks Starbucks is included in more than 20 rankings about innovation, valuable brands, best places to work, supply chain, corporate reputation, customer loyalty, and even the coolest brands on Earth. In other words, everyone loves Starbucks! In this article I have focussed on the SWOT Analysis of Starbucks.

Back of a Napkin Marketing Plan

How to Create a ‘Back of A Napkin’ Marketing Strategy Plan? Sometimes, you get stuck by an idea or a dream, and you get so mesmerised that you want to lay your hands on the next paper you find and start everything at once. We all have been there, but if I tell you businesses are no different in this aspect, would you believe me? Let’s find out more in this blog post and Create a Back of a Napkin Marketing Plan.

business plan 4ps example

Classification of Markets – Traditional Markets What is a Market? That question seems simple but becomes tough to answer in a Marketing 101 class. Here in this article, not only will I share with you what is a market but I will tell you in detail the classification of markets (with a focus on Traditional Markets)

promotion in marketing mix

Understanding Promotion in Marketing Mix What is Promotion in marketing mix? How to develop a promotion strategy? What are the elements of the promotion mix? Why is promotion of your product so important? Your mind might be wandering with all these questions if you are a marketing aspirant. Read on to learn everything in detail about one of the most powerful 4Ps of the marketing mix.

How to calculate the market share of a company

How to Find the Market Share of a Company? How to find the market share of a company when you have absolutely no data that you can get your hands on? I have been through similar situations so many times during my B-school projects and even at work. In this discussion, I elaborate on what is market share, what is its significance and how to really find it. You will also get to know whether it is worthwhile for you to fret on market share or not.

' src=

About the Author: Darpan Saxena


buy marijuana online in usa

[…]always a major fan of linking to bloggers that I adore but don’t get a whole lot of link adore from[…]

Buy Ruger Guns Online

[…]Here is an excellent Weblog You may Locate Interesting that we Encourage You[…]

business plan 4ps example

4Ps of Marketing Template

4 ps of marketing.

4 Ps of Marketing Template

More 4 Ps of Marketing Templates

Marketing Mix Template

About the 4 Ps of Marketing Template

Why use the 4 ps of the marketing template, how to use the 4 ps of marketing template, 4 ps of marketing examples, the 4 ps of marketing are summarised as follows:.

  • Product – What you sell
  • Price – How much you charge
  • Promote – How do your customers find out about you
  • Place – Where you promote your product

Marketing Mix Template

Related Templates

business plan 4ps example

Lorem ipsum test link amet consectetur a

  • Career Skills
  • Change Management
  • Communication Skills
  • Decision Making
  • Human Resources
  • Interpersonal Skills
  • Personal Development
  • Program Management
  • Project Management
  • Team Management
  • Learning Tracks
  • Free Productivity Course

author image

By Denis G.

The 4Ps of Marketing

In this article:

The 4Ps of Marketing, also known as the marketing mix, is a tool that can help you offer the right product in the right place, at the right time, and at the right price.

Imagine you run a one-person startup and are in the process of creating a new product. You feel that all you have to do is create your product and then offer it to the market, and you’ll have people falling over themselves to be your customer.

Unfortunately, it’s rarely this simple. Being product-focused in this way is a mistake that many people make. To be successful in the market, you need to be laser-focused on creating what your customers want, and the 4Ps of Marketing can help you do this.

The 4Ps of Marketing is a tool to help you think about the customer-focused choices you have to make when bringing a product to market. 

The 4Ps of Marketing

The 4Ps are:

  • Product:  What is it that you sell, and how does it fulfill your customers’ needs?
  • Place: Where do you promote or sell your product?
  • Price:  How much is your product?
  • Promotion:  How do your ideal customers find out about you?

As you can see, the 4Ps of Marketing is essentially a set of questions you have to answer to give your product or service the best chance of being successful in the marketplace.

Let’s examine each of the 4Ps of Marketing in more detail.

Creating a successful Marketing Mix begins with creating a product or service that fulfills a significant customer need. 

Consumers purchase your product because it satisfies a need or want. These needs and desires are rarely basic; for example, a customer may buy a luxury car to fulfill their need for status. 

Good marketers understand these needs and create and position products to cater to these needs. To understand your customer’s needs, it is essential to interact with real or potential customers and get their feedback and input.

The definition of a product not only refers to the actual good or service that you offer, but it also refers to how you package your product. The packaging of your product includes, amongst other things, the features of your product, its unique selling proposition, its branding, its packaging, any guarantee or warranty you offer, and your after-sales service. 

Product is deliberately the first element of the 4Ps of Marketing. The reason for this is that it’s almost impossible to determine any of the other Ps if you haven’t clearly defined what your product is. For example, how can you set the price of a car if you don’t know whether you’re building a Mazda or a Ferrari?

Place refers to how and where people will buy your products. You want to make sure that your products are available when and where customers want your products to be available.

Place also means making sure that your product is available in the right quantity to ensure that you’re able to satisfy the demand for your product.

A key question to answer during this stage of the 4Ps of Marketing is what is the most appropriate distribution channel for your product or service? Will you sell directly to the customer? If not, how will you get your product to where you are selling it? 

Distribution Channels

Be aware that each intermediary to recruit to help you sell your product will expect to be paid to perform this role.

Other questions to answer in this element include, what form of transportation will you use to get your product to where you’re selling it, and how will you manage inventories?

Note that it is called multi-channel distribution when you sell your product via more than one distribution channel.

Price refers to the price a customer must pay to purchase your product or service. 

Price is the easiest element of the 4Ps to manipulate. You can change your price overnight and immediately see an impact on your revenue.

Determining a price for your product can be complex. Typically, you’ll want to consider three variables:

  • Cost:  how much your product costs to produce.
  • Price:  how much you charge customers for your product.
  • Value:  How much value your customers get from the product.

Where you focus amongst these three variables will depend on your business strategy. If your business strategy focuses on cost leadership, then you’ll want to minimize your costs and the price you charge. If your business strategy focuses on differentiation, that is, being unique in the marketplace, then you’ll want to focus on maximizing the value you provide.

4. Promotion

Once you’ve finalized the other three Ps, it’s time to promote your product. Promotion aims to persuade customers to buy your product.

Promotion is concerned with where, when, and how you’ll advertise your products and services. Examples of promotional channels include:

  • Billboard advertising.
  • Facebook advertising.
  • Radio advertising.
  • TV advertising.
  • Social media advertising.
  • Trade show stands.

When nonmarketers think about marketing, it is often only promotion that they think of as marketing. If you’re not a marketer, it’s important to realize that a marketer’s brief covers all of the 4Ps of Marketing.

Promotion is broader than just advertising, as it includes public relations outreach and any discounting strategies you use. 

How to Use the 4Ps of Marketing

If you want a product to be successful in the market, then here is a six-step process you can use to develop your own marketing mix.

1. Align your product to serve specific customer needs

Your product should clearly meet your customer’s needs. You’ll need to perform customer research to ensure you give customers what they want.

In this step, you need to articulate precisely who your customers are and how your product uniquely meets their needs. You’ll use this information later when you construct your marketing messages.

2. Find out where your target audience hangs out/shops

Now that you know your ideal customers, you need to figure out where they hang out or shop. This might be online, such as in a special interest forum, or a physical location, such as an airport.

3. Determine a price for your product

Set a price for your product that will appeal to your target audience. Take into account your business strategy and the cost, price, and value variables to help you set your price.

4. Determine your messaging and channels

In this step, you determine the messages you’ll use to communicate the benefits of your product to your potential customers. 

You also need to determine which marketing and distribution channels you’ll use to reach your ideal customers. For example, you might choose to use a combination of Facebook advertising and working with affiliates.

5. Check all the pieces fit together

The beauty of online advertising is it allows you to relatively cheaply test your messaging with your target audience before you fully launch and commit to a large advertising spend. 

In this way, you can sanity-check your decisions so far before proceeding to the next step. Testing in this way can help you answer some important questions:

  • Is the price right?
  • Do customers want your product?
  • Have you selected the best channels?
  • Is your audience engaging with your ads and messaging?

This step is still important if you don’t plan to advertise online. Review your 4Ps of Marketing to check that all the pieces fit together and are pulling in the same direction.

6. Revisit your marketing mix over time

If you launch a successful product, your market share will grow over time. In response to this, your competitors will adapt their 4Ps. Over time, your customers’ behavior may also change.

Thus, the 4Ps of Marketing are not static, and you should adjust them regularly.

For example, maybe over time, you’ll need to add new ideal customer types as your market share grows. This simple decision will cause you to need to revisit all of the 4Ps to ensure that all elements are aligned and working together to attract these new types of customers.

4Ps of Marketing Template

If you’d like to perform your own 4Ps of Marketing exercise, you can download our 4Ps of Marketing template here .

4Ps of Marketing Template

4Ps of Marketing Example

To bring everything we’ve covered together, let’s work through an example of using the 4Ps of Marketing in practice.

Imagine you are creating a course teaching English speakers to speak Spanish. Let’s work through each of the six steps to see what your marketing mix might look like.

There are hundreds of other Spanish courses in existence, so why should someone choose yours?

One way to think about this problem is that right now, your potential customers are living unhappily on an island where they don’t speak Spanish, and what they want to do is get to the island where they do speak fluent Spanish.

From Unhappy to Happy

Unfortunately, there are many bridges available to them to get to the speaking Spanish island, so why should they choose yours? Crafting your unique selling proposition (USP) is all about giving potential customers a reason to cross your bridge rather than a competitor’s.

Your USP boils down to how you slice and dice your product to offer something unique. Ideally, to determine your USP, you should go out into the marketplace and talk with potential customers.

Assuming you have done this, then a few examples of how you might uniquely craft a Spanish course are:

  • Learn the 1,000 most common Spanish words quickly.
  • Watch your way to Spanish fluency (for a video-based course).
  • Learn Spanish in just 10 minutes a day.
  • Speak like a local in just three months.

Each of these USPs gives potential customers a reason to choose your bridge instead of your competitors because they distinguish your product from those of your competitors.

You can create a USP even if your product isn’t all that different from your competitors. The key is that you slice and dice how you describe your product so that your potential customers perceive a difference.

This step is all about examining the place element in the 4Ps of Marketing model. In what places might you sell your course? Well, if this were 1995, you’d have more limited choices than you have today:

  • You could work with a publisher to sell your course in written format in bookstores.
  • You could sell your course directly to your customer via mail order by advertising in newspapers, magazines, etc.

These days you have more options available to you, including:

  • Customers could purchase your course directly from your website.
  • You can work with bloggers to promote your course and, in return, pay them a commission for each sale they make.
  • You could provide your course as an app, downloadable via an app store.

How much will you charge for your Spanish course? Let’s examine the three variables:

  • Cost: while your course may have cost a lot to produce, but the marginal cost (the additional cost) of selling one additional subscription to your course is minimal.
  • Price:  your product strategy is one of differentiation, so you’ll be looking to charge a high fee for access to your course.
  • Value:  while the value of speaking a second language is considerable, people are used to paying low monthly amounts to access online language courses.

Taking all of this into account, your pricing options might be:

  • $10 per month for access.
  • Certain features are free forever, but you need to pay to access premium features.

Suppose your USP was: watch your way to Spanish fluency. You might decide to keep this as your messaging but add some additional messages to complement it, such as:

  • Why read a book when you can watch yourself to Spanish fluency?
  • Sit back, relax, and get fluent in Spanish?
  • Sound like a local without opening a Spanish book.

In this step, you also decide that your primary channels to attract new customers will be Facebook and Instagram advertising.

You’ve now completed all of the 4Ps of Marketing. Your completed 4Ps of Marketing template will look something like this:

4Ps of Marketing Example

Now it’s time to sanity check that everything makes sense.

In this example, you’re going to do this by running test ads using Facebook. The point of these tests is to determine if people are engaging with your messaging and, therefore, if they are interested in what you have to offer.

Fortunately, in this example, people do engage with your test ads, so you’re in a position to launch when you’re ready.

You haven’t launched yet, so this step isn’t relevant to you right now, but you make a note to revisit the 4Ps of Marketing regularly after launch.

Advantages and Disadvantages

There are several advantages and disadvantages associated with the 4Ps of Marketing model.

  • It helps you to understand what your product can offer to your customers.
  • It provides a way to build a complete marketing plan that begins with focusing on aligning your product to your customer’s desires.
  • It allows you to see the critical components of even the most complex marketing plans on a single page.


  • It provides no mechanism to measure the success of your marketing efforts.
  • Price is fundamental to the model, but brand building isn’t. This focus on price rather than brand can be corrosive to your ultimate profitability.
  • The model is high-level and doesn’t go into detail.
  • While the model can help you put together a marketing plan, the quality of your marketing plan will be determined by the quality of the people who put your marketing plan together.
  • It can take significant time to put a 4Ps of Marketing plan together.

The 4Ps of Marketing model, also known as the marketing mix, is a tool that can help you offer the right product in the right place, at the right time, and at the right price.

The model begins by helping you create a product that your customers actually want to buy and moves on to help you determine where you will sell your product, how much you will charge, and finally, how you will promote your product.

Cite this article

Minute Tools Content Team, The 4Ps of Marketing, Minute Tools, Mar, 2022 https://expertprogrammanagement.com/2022/03/4ps-of-marketing/

author image

Originally hailing from Dublin, Denis has always been interested in all things business and started EPM in 2009. Before EPM, Denis held a leadership position at Nokia, owned a sports statistics business, and was a member of the PMI's (Project Management Institute’s) Global Executive Council for two years. Denis now spends his days helping others understand complex business topics.

How useful was this post?

Click on a star to rate it!

Average rating 5 / 5. Vote count: 3

No votes so far! Be the first to rate this post.

Related Tools

How to create a storybrand.

StoryBrand is a framework to help your business communicate clearly with potential customers, created by Donald Miller, an author, public […]

DRIP Model of Communication

The DRIP model an acronym standing for differentiate, reassure, inform, and persuade. It is also a marketing communications model. The […]

The AIDA Model

The AIDA model is a marketing communications model showing you the cognitive steps prospects take before purchasing your product. It […]

3Cs of Marketing

The 3Cs of Marketing model is a strategic framework to help you win in the marketplace by better satisfying your […]

STP Marketing Model

STP Marketing Model (Segmenting, Targeting, Positioning) is a framework that simplifies the process of market segmentation.  Your marketing will be […]

Three Product Levels (Kotler)

The Three Product Levels model by Philip Kotler provides a way to understand the different levels of need a customer […]

Gap Model of Service Quality

The Gap Model of Service Quality (aka the Customer Service Gap Model or the 5 Gap Model) is a framework […]

Services Marketing Triangle

The Services Marketing Triangle (or Services Triangle) shows the key actors involved in marketing a service business. It also shows […]

Services Marketing Mix: The 7 P’s of Marketing

The Services Marketing Mix consists of a set of tactics that a company can use to promote and encourage potential […]

Difference between Sales and Marketing

What’s the difference between sales and marketing? Isn’t it the case that if you’re marketing to someone your selling? If […]

cta image

In our course you will learn how to:

This 5-week course will teach you everything you need to know to set up and then scale a small, part-time business that will be profitable regardless of what’s happening in the economy.

So if you’ve always wanted to be your own boss and have the flexibility and freedom that entails, then…

Do your future self a favor and check out our course designed to help you achieve exactly that.

  • 18+ Risks and Disadvantages of Technology
  • How to Build Your Business Identity on a Tight Budget
  • Best Green Tea Brands in the world in 2020: What makes them the best?
  • Global Milk brands in 2020 – What makes them successful?
  • What is a Triple Net Lease? Its Advantages and Disadvantages
  • Adaptation Level Phenomenon – understanding its importance
  • Risk Matrix – Factors of a risk matrix and how to implement it
  • Prioritization Matrix – Different types and how to use a prioritization matrix


Understanding Marketing Mix (4Ps & 7Ps) With Examples

On paper, marketing may not sound like a lot of work. After all, it’s only about promoting and selling products and services, isn’t it?

What people don’t realize is that there’s a significant amount of research and planning involved in executing every marketing campaign. This is probably why experts can’t help but pay attention to every tiny little detail in this strenuous process. How here’s where a marketing mix comes into the equation.

Using a marketing mix helps chuck out extra details, allowing marketers to design the most effective strategy for their products and service. In this elaborate guide, we will be discussing about marketing mix in detail and how you can develop one of your own.

Table of Contents

What is a Marketing Mix?

business plan 4ps example

A marketing mix comprises of a bunch of tools, tactics or actions that a company might use to introduce and promote its product or brand. The 4 Ps of marketing is made up of:

However, because of the increasing demands of the field, there’s been an introduction of 7 Ps of marketing which also includes components such as people, positioning, and packaging.

Importance of Marketing Mix

Each component found in a marketing mix greatly influences the business plan of the company, ensuring its success. It basically highlights important pointers for marketers and key stakeholders that’ll come in handy throughout the lifecycle of the product.

The mix will play a crucial role in identifying the best marketing strategy for your business. It’s also a primary step to creating your marketing or business plan. This is why a lot of effort, research, and planning goes into formulating a marketing mix. In fact, a number of people are consulted throughout the process to ensure no major or minor details are left out.

What Are the 4 P’s Of Marketing

While marketing mixes are becoming more elaborate and detailed, it’s a good idea to start off with the basic 4 Ps. Here goes:

The product refers to a tangible item or service that you’re trying to sell. In order for it to have any value at all, it must fulfill some kind of need for the consumer. The product must offer excellent performance or else even the best marketing strategy won’t be able to save it from plummet.

For this, marketers must sit down and plan out various stages of the product cycle according to their particular needs and requirements. The first step in this cycle is identifying what problems the product can solve. For this, all professionals on the team must fully understand the features and USP ( unique selling proposition ) of what they’re offering. Once the true potential of the product is identified, marketers can move on to the next step which is deciding the price of the product.

You can’t market a product without putting a price tag on it! This can only be done once marketing professionals have developed a concrete understanding of the product. The price of the product plays a crucial role in determining how the product will sell in the market.

It’s important to note that consumers calculate a perceived value of a product in their minds before they’ve even seen the price tag. Problems will arise if there are fluctuations in the price and it does not align with the consumer’s perceived value. For instance, imagine you’re shopping for a new pair of running shoes that look great at a first glance. However, on close inspection, you notice that the quality of the material is below par which is quite surprising because the shoes are insanely expensive.

At this point, the consumer may start to grow skeptic about your brand. Marketers thus need to find a way to see products from the eyes of consumers . So if the product doesn’t offer much, it will hold little value for the consumer.

Additionally, the price will also depend on value chain costs and other factors including how competitors have priced similar products.

Once you’ve got yourself a final product and have decided a price, the next step is promotion. After all, you can’t sell a product unless consumers already know about it, can you?

This part includes many different aspects such as sales promotions, social media marketing, email marketing , advertising and much more. The appropriate channel(s) will be decided by marketers according to the nature of the product. Additionally, the channel must be aligned with the interest of consumers, for instance, if you’re promoting a new energy drink for youngsters, you’re likely to reach your target audience more effectively using social media. This is primarily because teenagers and young adults spend a lot of time on platforms such as Facebook and Instagram.

As a marketer, you can also come up with interesting contests and prizes ahead of your product launch to generate hype and get customers excited.

Proper placement is key to marketing any product successfully as it’ll drastically impact distribution. Marketers must thus put their heads together to determine ideal locations that’ll attract as many prospective customers as possible. Today, thanks to the social media frenzy, most consumers are more or less converted or engaged online.

However, if you own a physical store, you’ll have to ensure it’s based somewhere consumers will be able to find it easily. On the other hand, if you’re an online retailer, opt for an identifiable web domain and an easy to navigate website.

Marketing professionals can choose from a number of potential locations as part of their placement strategy. This, of course, will depend on the nature of the product and where its target audience hangs out.

Extended Marketing Mix Modeling

The traditional 4 ps of marketing gained popularity for many years until it finally considered too simplistic. Experts began to think that the original model lacked depth and offered room for improvement

5 Ps of Marketing

For better clarity, Judd added the fifth p in the existing marketing model to highlight the contribution of people. This p pays tribute to the people behind all the action, specifically those who are working hard to offer products and services to their consumers. These people play an integral role in shaping user experience and help make your marketing campaign. The second aspect of this component is your customers. Without them, there would virtually be no point of a marketing campaign which is why each campaign is tailored around, well – people.

The basis of adding an extra p was to highlight the importance of people that are communicating messages to the audience. Here, professionals must take customer services and staffing into account. This is primarily done via training sessions and other exercises.

7 Ps of Marketing


In 1981, the original model was further extended to add three more elements, resulting in the 7 p’s of marketing. The revised Booms & Bitner model was designed to highlight the importance of services in addition to tangible, physical elements. The additional three elements included people, processes, and physical evidence.

Processes refer to how you plan to distribute and deliver your products and services to consumers. In the long run, consumers are also paying for how the service is delivered to them. Think of ways to improve your services and provide utmost convenience to your consumers.

Physical Evidence

The final p stands for physical evidence and refers to all the physical components that consumers will be interacting with your business. For instance, this could include the packaging of the product, branding, layout and of course, the overall environment of the place where you’re selling your products and services. All these elements will ultimately contribute to the user experience.

How to Craft a Marketing Mix

The marketing management is often responsible for developing a marketing mix. However, extensive research is crucial to ensure that all key points are based on facts and not assumptions. Follow these steps to develop a marketing mix:

Define Your Unique Selling Proposition

The most primary step to devising a marketing mix is to define a unique selling proposition. Think about it. Here are some questions you ought to ask yourself:

  • Why would consumers be interested in your product?
  • What are your product’s biggest
  • What do you have to offer that your competitors don’t?

Use focus groups and customer surveys to determine how important your USP is. Your potential customers should clearly be able to highlight the key benefits and features of the product in order for the product to sell. Be willing to go above and beyond with research if you want your product to stand out, all these pointers must be showcased in your marketing campaign.

Find Your Target Audience

Take inspiration by writing down a few sentences about your target audience or create a buyer’s persona. This will act as an indispensable tool for marketers who really want to hit the spot and assess each marketing tactic with great attention. For extra measure, you must base customer profile one aspects such as gender, age, demographics etc.

On the other hand, if you’re targeting other businesses, consider factors including the company’s size and location.

Assess the Competition

There are probably dozens or maybe even several thousands of businesses that are offering something similar to your product. So what do you do? You evaluate your competition.

Try to figure out their strategy and understand what keeps them going. Some businesses offer special discounts and warranties to spike up sales and get the attention of consumers. Determining the subject worth of the product and then eliminating its additional costs will help you decide on a reasonable price point. This will especially come in handy when you are devising pricing strategy.

Create a Pricing Strategy

Once you have examined the value of similar products in the market, use your marketing research to develop an appropriate pricing strategy. This will help make sure you do not overprice or underprice the product.

Shortlist Placement Options

At this stage (once you’ve developed a pricing strategy), you must move forward with assessing placement options. Evaluate where your prospective customers are most likely to hang out and make a purchase. You must also consider any costs that may be associated with that particular channel. For instance, if you’re thinking of opening up a physical store as opposed to an online one, you must keep additional expenses in mind.

Alternatively, you can also target multiple channels at the same time to attract a wide customer base. However, if you would like to target a particular niche, you may want to stick to specific channel or area that will benefit your company the most. It’s also worth keeping in mind that the availability of the product may directly impact its perceived value.

Devise a Promotion Strategy

How do you plan on getting the word out? In this phase, you must incorporate everything that you’ve learned about your target audience and use it to devise a commination strategy. Keep in mind that the promotion strategy that you opt for but be aligned with the needs and requirements of your consumers. The products must be promoted in a way that its benefits, features and USP is clearly understood by the audience.

If your company is on a tight budget, opt for a few affordable yet effective tactics that will help you reach your core audience. Once your campaign starts to get noticed, you can move on and target an even bigger number. Your tactics could include platforms such as social networking sites or direct mail to reach out to customers.

Marketing Mix of Coca-Cola

business plan 4ps example

The Coca-Cola Company is undisputedly the most renowned and perhaps the most loved beverage company in the world. Over the years, the brand has successfully launched a number of new products, bringing down its final total to over 3300.  Let’s take a closer look at its marketing mix for better understanding:

The renowned beverage company has an incredibly large product mix that includes about 400 brands. Apart from regular soda, they also offer a variety of juices, sports drinks along with teas and coffees. Among the most popular is its flagship Coca-Cola which has been crowned the most popular selling soft drink to ever exist. Other notable brands include Sprite, Fanta, Minute Maid, Powerade, and Fresca.

At present, the company is focusing on introducing healthier drinks as people are slowly moving towards sugar-free options. The Coca-Cola Company first became a part of this trend when it introduced its first non-carbonated drink, Minute Maid in 1990s.

Coca-Cola follows a comprehensive pricing strategy that is based on the perceived value of its products. Since Pepsi Co is the prime competitor and arch-rival of the brand, Coca-Cola ensures its pricing is within consumer reach. Overall, Coca-Cola’s pricing approach is closely aligned with maintaining brand loyalty.

Since its products are sold by a number of retail stores and distributors, each entity implements its own pricing strategy. While most drug-stores and gas stations sell its products at a fixed price, retail outlets may adopt a different strategy altogether.

Coca-Cola is known as the most popular beverage company in the world and rightly so. To stay relevant, the company has employed a number of marketing and advertising strategies. It advertises its products using numerous communication channels including social media, direct mail, the World Wide Web along with traditional means of advertising such as billboards and TV commercials. Due to increased competition, Coca-Cola reportedly spent about $3.96. Billion on advertising last year.

One of Coca-Cola’s most successful campaigns was for Coke Zero in 2015. The drinkable advertisement was targeted at millennials, giving them a chance to sample the drink. According to the brand over 85 % of millennials had not tried the drink yet so this campaign was designed to introduce their product to a whole new audience.

In 2016, Coca-Cola announced a shift in is marketing strategy with its new “Taste the Feeling” campaign. The company emphasized on a “one brand” approach which was quite unique from its previous strategies.

Coca-Cola has an enviable distribution system as its products can be found in over 200 countries all over the world. It is reported that the company is able to sell about 1.9 billion servings every day on an average which is a whopping number!

Coca-Cola follows an FMCG distribution pattern which has allowed the brand to penetrate all relevant players in the market. It is also worth mentioning that the brands bottling partners closely interact with consumers in amusement parks, convenient stores, street vendors etc. Together, all these partners have managed to create a successful localized strategy for Coca-Cola.

Wrapping it Up: Marketing Mix

We hope this elaborate guide has helped you learn more about marketing mix. Is there something you’d like to add? Tell us about it in the comment section below.

Image Credits: Blog.Scoop.it , Celebrista , Marketing91

  • DMCA Notice
  • Privacy Policy

Type above and press Enter to search. Press Esc to cancel.


4 Ps Of Marketing - Marketing Mix Definition & Examples

With a big catalog of 224+ extensions for your online store

In the 1950s Neil Borden popularised the term marketing mix which contained more than ten elements of marketing. The fundamental among them was the 4 Ps of marketing . Later in the 1960s, Jerome McCarthy devised the 7 Ps model , refining the essentials from the marketing mix. Over time many Ps have been crystallized like 5Ps , 8Ps , etc. But the 4Ps of marketing is like the purest crystal which cannot be refined further. Every other Ps-model is either an expansion or modification of the original 4Ps. We may add two or more Ps to the 4Ps, but we can’t move a P out of it. Hence, it is the bedrock of marketing of any kind.

We will examine in this article why the 4Ps are indispensable for a marketing executive today and how they still hold with the marketing of intangible and tangible products :

Table Of contents

What is Marketing Mix?

Who invented the 4 ps of marketing, internal factors, external factors, it creates synergy, brand loyalty and value, serves as a link, enables proper integration, guides decision, higher sales volume, 4. promotion, which of the 4 ps is most important, why is product the most important in 4 ps of marketing mix, 4 p’s of marketing examples, performance, physical evidence, product should match the envisaged positioning, target customer profile matching, resource matching with firms, ensure the harmony of elements, competitive advantage, merge organizational goals as well.


The very purpose of marketing is to make your promising customers aware of your products. A marketing mix is the set of those factors which a company can leverage to make the consumer purchase its products. As the term suggests, it is indeed a mix of many tactical marketing tools. The role of the marketing executive is to prepare the right combination to bring out the excellent synergy between the product and the targeted audience.

Marketing mix usually refers to the set of 4Ps viz. Product , price , Promotion , Place . But theoretically, the marketing mix is a much broader term. Often the three additional Ps - process , people , physical evidence is also added and called 7 Ps of Marketing . The role of the marketing mix is to synthesize the visible and invisible qualities of a product with the aspirations of the targeted clients. The marketing mix for a manufactured product will be different from that of a product as a service.


It was Neil Borden who first popularised the idea of the marketing mix in the 1950s . Borden defined marketing executive as somebody who fuses ingredients to make the right recipe for marketing a product. Later, it was E.Jerome McCarthy who sublimated the concept of 4Ps of marketing from the Borden’s ideas of a marketing mix .

McCarthy had highlighted that the 4Ps viz . Product, price, promotion, and place are the initial control elements that are available to shape a marketing plan. He also articulated the changing of the balances of these variables in long term perspective with the product remaining the hardest to change.

What factors determine the marketing mix ?

Any company which intends to find the right pitch for their product needs to consider an array of factors before setting out to do it. The marketing mix for any product will be determined by two factors viz.

It includes the factors which lie within the organization or is concerned with the inner atmosphere of the firm. The internal factors are primarily :

  • Nature of products
  • Product stages in its overall life cycle
  • Availability of funds
  • Company objectives

External Factors concerned with the factors outside the organization. They include the following aspects :

  • Degree of competition
  • Efficiency of channel
  • The buying behavior of a consumer
  • Control from the government side

Related Posts

  • Net Neutrality Pros and Cons
  • Internal & External Environmental Factors That Affect Business
  • SWOT Analysis

Importance of 4Ps Marketing

Importance of 4Ps in Marketing

The core marketing mix fundamentals based on 4 Ps will enhance the success of your products by passing on the following benefits :

The four Ps of Marketing : Product, Price, Promotion, Place when blended properly creates coordination that gives a right pitch to the product. It follows the principle: ”the whole is greater than the sum of its parts.”

Since the approach focuses on the needs of the customers and their satisfaction the product consequently earns consumer loyalty and esteem .

The product features, pricing, and place strives to factor in the expectations of a customer. The promotional aspects give to the customer what your company proposes to offer and thus position the products better. Thus a link is being forged between the consumer and the organization.

The designing of the 4 Ps needs critical thinking and perceptiveness. If they are merged correctly, then your product will find a unique space in the customer’s mind.

The interdependence and the overarching nature of one element over another guide you in decision making. For example: if your product pricing is high, then in your promotional activity, you will have to target well off customers, and your product design must be quality based. The channels of distribution and location etc. will also be guided by this decision.

The result of all the efforts is higher customer satisfaction and greater market share which is compounded by an increase in the sale of the products.

Elements of Marketing Mix- the 4 Ps


A product is the heart of the marketing mix . All marketing activities begin with the product. The product is not a physical entity alone; it captures the whole tangible and intangible aspects like services, personality, organization, and ideas.

Without a product, we have nothing to price, promote or place . Hence, of all the 4 Ps the Product is the most elemental P .

Here, it is essential to understand the term product mix concerning marketing . The product mix is the whole range of products a company offers to its customers. Say, for instance, Apple an authority in electronic brand commands loyalty as a pioneer of mobile technology and e-devices. Suppose, Apple decides to expand its product line with a new Apple sports shoe. Thus the product mix of Apple.Inc will cover mobile phones, tablets, iPods, watches and the new one in line the Apple shoes.

The decisions regarding product mix will depend on many factors like :

  • Product variety
  • Packaging, returns, etc.


Price is the monetary value that has to be paid by a customer to acquire or own the product of a company. It is the critical revenue-generating component of the firm.

Pricing decisions should be taken with great care, as it is a double-edged sword. If your product is priced too high, it may exude a feeling of high quality. At the same time, it will make your product placing to limited and standard stores. So the marketer must know the art of wielding this dangerous sword of pricing.

The pricing mix decisions need to consider the below marketing variables :

  • Methods of pricing; policies; strategies
  • Discounts, rebates
  • Payment period
  • Credit policy

The pricing strategy of your organization must align with the overall goal of your organization to blend smoothly. Whether you want market penetration or skim over all this depends on your pricing strategy.

3. Place (or Distribution)


Place or physical distribution deals with the transfer of ownership of the product from the manufacturer to the customer.

The margin of your profit depends on how quickly you can turn over the goods. The more swiftly the products reach the point of sale, the more likely are the chances of satisfying the customers and increase brand loyalty . Hence the Place factor is crucial in ensuring your product’s competitiveness in the market.

The following are the elements of a distribution mix :

  • Channels of distribution
  • Warehousing decision
  • Product handling
  • Inventory control
  • Order processing


It aims to serve two objectives. One, it informs the potential customers about your product and secondly, it persuades them to buy your product. The promotion mix will thus include the various means that you can use to communicate with the target audience. An effective promotion mix will ensure good sales and a marketer must strive to create a conducive environment. Also, your promotion strategy will cover the potential platforms of your niche where the businesses products can be promoted and even sell. For example, niche marketplaces or social media.

Say, for example, if you are a Magento store owner and would like to promote your store products on Facebook shop, you may opt for Magento 2 Facebook Store Integration extension that syncs store products with Facebook shop to promote and sell them to a larger audience.

The main elements of a promotion mix are:

  • Advertising
  • Personal selling
  • Public relations
  • Direct marketing
  • Publicity -social media, print, etc.
  • Sales promotion

Now, that we know the 4Ps which entails the marketing process, it is time to pinpoint the one that could make or break it for you. Some marketing managers feel that promotion is the key to increase sales. But advertising is about presenting utility. You cannot promote good health through junk food products.

The pricing is, in reality, a matter of quality and distribution is also dependent on the target customers. But target customers decide the quality of the product and its pricing, but what ultimately identifies the target customers? It is your product idea, the product you have conceived. It is the starting point of all thought process, hence the most important of all Ps.


The choice of your product is going to be the foundation for developing other three Ps viz Pricing, Promotion, and Place. Therefore, while choosing your product, thorough research on some key aspects is needed.

Your inquiry should investigate the needs that the product will serve; the age group that it will benefit the most; the change it will make in the consumer’s life; the naming criteria; players who are already selling similar products; their strategies and how different can you pitch your product.


If you find the discussion on 4 Ps too wordy, let’s go through some examples.

The first P stands for Product. Example, a KFC chicken product will include the look of the food, the shiny red buckets with the smiling face of Colonel Sanders, the wording on the combo pack like “Friendship Bucket,” “Triple Treat.”The second P, pricing strategies have been used by Jio Reliance company in India to get the deepest penetration. It almost washed away all the mobile service providers out.

The third P is the Promotion, for example, the Coke leveraged the World cup 2010 and K’naan’s theme song so much that, Coca Cola and football have all become synonymous. The Place or Distribution is the fourth P. Examples: Apple iPhones are found easily in renowned e-commerce stores like Amazon and not in Zepo and less known stores.

Some Additional Ps of Marketing mix


Technology is transforming the very nature of marketing. It is not only creating new avenues to market your products but new kinds of products hitherto never seen. We cannot hold software in our hands, yet we know that they are earning millions of dollars. In the world of e-commerce marketing is no more a stagnant field, and you need to keep a look out for the latest digital marketing trends . So some additional Ps are discussed to fine-tune marketing with the tide of the time.

The people are of two categories. One, those who are inside the organization includes your employees from the lowest rank to the top. They are the bricks that sustain the whole structure.

Secondly, they include external people or customers. The customers are the very purpose of your organization. Their need is your work and their satisfaction your ultimate reward.

It involves the range of activities involved in the creation and delivery of goods. The need to improve and upgrade technology today is indisputable. The very competence of your product depends on the efficiency of your process. The speed of production, quality, numbers, etc all revolve around process efficiency.

A programme that will include the traditional 4Ps with the new requirements of time is necessary to keep floating with the latest developments. The new range of marketing activities should take into account the nature of the product, the targeted audience, the offline and traditional elements of marketing like email marketing , etc.

It is the overall deciding factor. The performance of a firm in the various attributes like goodwill, market share, loyalty, etc will have both financial as well as other implications. These attributes will further help in guiding your organization’s decisions for future expansion or corrections in the current strategy.

First impressions count, and packaging is no exception. Companies that carefully craft their custom packaging boxes stand to reap the benefits of brand recognition, as product packaging has become one of the decisive factors in building a brand image in public. An attractive bottling can merely make your product unique as more and more people are into social media. The beer bottle model of Park Avenue shampoo attracts the eye and makes you buy it just for the sake of the feel that packaging creates in you. It can help your product fare well in the top e-commerce marketplaces as well.

It is one of the essential factors in choosing the marketing mix for a service product. The service products are usually intangible and thus lacks a material presence. However, marketing is vital for the actual sale of formless service products. Therefore, instead of focusing on the intangibles, the tangible elements associated with the services are considered:

  • Environment

Related Posts:

  • Net neutrality pros and cons
  • 30+ Free Stock Photos Websites
  • A Situational Analysis of a Strategic Marketing Plan
  • Limited-time offers trick in eCommerce

How to design an effective marketing mix?

Looking for Marketing Solutions for Magento 2 stores ? Get it in the banner below!

business plan 4ps example

Now, that we know all the Ps that enables you to market your product. The right blend of Ps that is fitting for a product depends very much on the perceptive ability of a marketing manager. A thorough understanding of the product; its market; the needs and preferences of the customers is essential to building a valuable insight into the marketing mix for your product . Hence to be effective the marketing mix of a product must satisfy the following conditions :

A unique positioning for a product requires that each element of the marketing mix are complementary to each other. It should also be in line with the positioning strategy of the firm.

The marketing mix needs to be based on the profile of the targeted customer to be effective. It only means that if the targeted customers are high-end ones, then your product must be placed superior in qualitative terms. The pricing should also reflect quality.

A thorough survey of the resources that are available with the firm for disposal is the first step. Because it is the resources that dictate your limit, you may have big plans but, they are just daydreams without funds to support them.

All the components of your marketing mix should synthesize well to give a distinctive position for your product. Any disharmony in the internal aspects could affect the credentials in the eyes of the market and lead to failure. You can make use of team collaboration or social media management tools to keep your whole team on the same page when it comes to your positioning.

Now you must remember that you are not alone selling the product, but you can make it look unique, and that is your creativity. Hence, the choice of your marketing mix must factor in the competitor’s strategy and must develop counter attacking solutions as well.

You need to gauge the overall organizational goals and align your mix to facilitate the company’s goals as well for example. If your company is looking for broad market penetration with the new product, you need to select the pricing, the people, the promotional strategy and distribution method accordingly.

The marketing is a context based discipline. The internet has diversified the traditional approaches to marketing. The internet based technologies facilitates deeper penetration into the very individual. But the essence of marketing and its objectives remain the same, and the 4 Ps thus are the starting point for any new businesses, large or small. In the today’s world of startups the 4 Ps acquire special importance. A talented marketer can combine the additional Ps with the traditional 4Ps to bring out the best for his product, company and clients. But, everything begins from the basic 4 Ps.

Author Bio:

Premjith leads the Digital Marketing team at Mindster, one of the leading mobile app development company in India . With his 4 valuable years of experience in online marketing, he helps clients expand their online presence and mushroom novel business ideas.

Make sure your store is not only in good shape but also thriving with a professional team yet at an affordable price.

mageplaza services

November 2023

Hiring Offshore Python Developers: 6 Key Success Factors

Hiring Offshore Python Developers: 6 Key Success Factors

How to Hire a Developer: A Comprehensive Guide

How to Hire a Developer: A Comprehensive Guide

People also searched for.

  • 4 p's of marketing example
  • 4ps of marketing example
  • 4ps of marketing
  • 4 ps of marketing
  • marketing mix 4ps example
  • 4ps example
  • 4p marketing example
  • write 4 p's of marketing with example of each
  • 4 ps of marketing examples
  • 4ps of marketing examples
  • 4 p's of marketing
  • marketing mix example
  • marketing mix 4ps
  • 4 ps of marketing with example
  • explain 4 p's of marketing with examples
  • 4ps of marketing with example
  • 4ps marketing
  • 4ps marketing mix example
  • 4 p of marketing
  • elements of marketing mix with examples
  • 4 p's of marketing with examples
  • 4ps of marketing mix example
  • 4ps marketing example
  • marketing mix 4p example
  • four p's of marketing examples
  • 4 p's of marketing product example
  • marketing mix elements with examples
  • 4 ps of marketing mix
  • marketing plan 4ps example
  • marketing mix with example
  • explain 4ps of marketing with example
  • marketing 4 ps example
  • 4 p's of marketing mix with example
  • 4 p's of marketing mix
  • example of marketing mix
  • example of 4 p's of marketing
  • examples of marketing mix 4ps
  • 4ps of marketing mix with examples
  • what is the 4 p's of marketing definition
  • examples of the 4 ps of marketing
  • 4ps product example
  • 4 ps marketing mix example
  • 4p's of marketing mix with example
  • example of marketing mix 4ps
  • 4p's of marketing
  • four p's of marketing
  • 4 p's of marketing examples
  • the 4 ps of marketing examples
  • 4p marketing strategy example
  • 4p's of marketing example
  • 2.2.x, 2.3.x, 2.4.x

Stay in the know

Get special offers on the latest news from Mageplaza.

Earn $10 in reward now!


  1. Marketing mix

    business plan 4ps example

  2. What is Marketing Mix (4Ps, 7Ps, 4Cs, 7Cs)? Definition & Guide

    business plan 4ps example

  3. 4Ps of Marketing : The marketing mix is a crucial tool to help

    business plan 4ps example

  4. The 4Ps of Marketing Mix

    business plan 4ps example

  5. The 4Ps Marketing Mix, and what it means for charities ~ Just Tell Stories

    business plan 4ps example

  6. 4Ps marketing planning

    business plan 4ps example


  1. business plan

  2. business plan

  3. business plan !)))

  4. Business Plan 🤪

  5. business plan

  6. Business


  1. The 4 P's of Marketing (With 3 Examples To Review)

    1. Product A product is a service or good that a brand offers. Brands consider factors like necessity, competition and costs when determining which products to offer to their customers. A product can be anything useful or entertaining to consumers, like a dishwasher or an eBook.

  2. The 4 Ps of Marketing: A Step-by-Step Guide (With Examples)

    The First P of Marketing: Product The product is what the company sells. It might be a product like a soft drink in the beverage industry or dresses in a clothing store. Or these days it may even be software like Ubersuggest. It could also be services, such as consulting or a paid speaking gig or even a therapy session.

  3. "The 4 Ps of marketing"

    Basics "The 4 Ps of marketing" — an overview (with examples) Adobe Communications Team 08-19-2022 Designing and building a marketing campaign is a big project. Even experienced leaders sometimes find it hard to get started because there is so much to consider, plan, and organize.

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

    The four Ps are product, price, place, and promotion. They are an example of a "marketing mix," or the combined tools and methodologies used by marketers to achieve their marketing objectives. The 4 Ps were first formally conceptualized in 1960 by E. Jerome McCarthy in the highly influential text, Basic Marketing, A Managerial Approach [ 1 ].

  5. 4 P's of Marketing Mix (Updated with Example and Template)

    The 4 P's of marketing example for a service business + marketing mix template The 7 P's of marketing How the 4 P's of marketing apply in today's online marketing 2 extra P's of marketing from Angle180 If you're ready to take your marketing seriously, you'll need to start with a marketing plan.

  6. The 4 Ps Of Marketing

    Examples of the Four Ps in Marketing How To Use the 4 Ps of Marketing What's the Difference Between the Four Ps and the Seven Ps? Frequently Asked Questions (FAQs) Show more The four Ps of...

  7. The 4 Ps of Marketing and How To Use Them in Your Strategy

    Ryan Eichler What Are the 4 Ps 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....

  8. What Are the 4 Ps of Marketing? The Marketing Mix Explained [Example]

    The four Ps of marketing are product, price, place, and promotion. These are the key factors that are involved in marketing a product or service. You take the four Ps into account when creating strategies for marketing, promoting, advertising, and positioning your product or brand.

  9. What Are the 4 Ps?

    Definition and Examples of the 4 Ps of Marketing The 4 Ps were notably identified by Neil Borden, an advertising professor at Harvard University, in a 1964 article entitled, "The Concept of the Marketing Mix." However, the concept of four essential marketing factors has been around since the 1950s, although it has evolved significantly since then.

  10. The 4 Ps of Marketing: How to Apply Them to Your Business

    The 4 Ps of marketing - product, price, place, and promotion - also known as the marketing mix, is a popular marketing concept essential to ensure any business' success. This idea dates back to the 1940s, when Neil H. Borden, Professor of Advertising at the Harvard Graduate School of Business Administration, coined the term "marketing mix".

  11. How to Implement the 4 Ps of Marketing

    The 4 Ps of marketing is a model businesses use to control and optimize the essential factors of marketing a product or a service. The four components of the model are product (what you sell), price (how much you sell it for), place (where you sell it), and promotion (how you get customers). Jeremy McCarthy originally proposed this type of ...

  12. 4P Marketing Mix Template & Example for Teams

    Step 1: Start by selecting this 4P Marketing Mix template. Step 2: Choose a specific product or service to analyze. Step 3: Go through each quadrant, adding relevant information in sticky notes or uploading other file types. You may also want to color code your sticky notes so you can distinguish between positive and negative points.

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

    The four Ps are product, price, place, and promotion. They are an example of a marketing mix, or the combined tools and methodologies used by marketers to achieve their marketing objectives. The 4 Ps were first formally conceptualised in 1960 by E. Jerome McCarthy in the highly influential text, Basic Marketing, A Managerial Approach [ 1 ].

  14. 4 Ps of Marketing: What They Are and How to Use Them

    The four Ps are product, price, place, and promotion. They are an example of a "marketing mix," or the combined tools and methodologies marketers use to achieve their marketing objectives. The 4 Ps were first formally conceptualised in 1960 by E. Jerome McCarthy in the highly influential text, Basic Marketing, A Managerial Approach [ 1 ].

  15. The 4 P's of Marketing + Marketing Mix Examples

    4 P's of Marketing Example: Product Let's take a barbershop that caters to families with young children. Their product is - obviously - haircuts. Applying the 4 Ps, the barbershop might describe its product this way: "We know your kids may be nervous about a new haircut.

  16. What is the 4P Marketing Matrix?

    The principle of the 4P Matrix is that marketing decisions usually fall into four controllable categories: product, place, price and promotion. Carefully positioning your product in each category will generate the greatest response from your target market. The 4P Matrix dates back to the 1960s, and is arguably the most frequently used marketing ...

  17. 4Ps of Marketing Free Template and Guide

    The 4Ps of marketing is a simple way of thinking about marketing plans across four main areas: product, price, place, and promotion. This 'marketing mix' can help you formulate a plan to ensure the introduction of your product or service to the market is successful.

  18. PDF Marketing's Four P's: First Steps for New Entrepreneurs EC-730

    Promotion. Informing potential customers of the availability of the product, its price and its place. Each of the four P's is a variable you control in creating the marketing mix that will attract customers to your business. Your marketing mix should be something you pay careful attention to because the success of your business depends on it.

  19. 4Ps of Marketing (Marketing Mix with Examples)

    What is the purpose of the 4Ps of Marketing Mix? Product Price Place Promotion 4Ps of Marketing - How to develop the Marketing Mix? 4Ps of Marketing - Key Features Elements of Marketing Mix with Examples Product: Coca-Cola Life Price: Organic Apples aren't Cheap Place: Don't tell everyone what you did last Friday

  20. 4Ps of Marketing

    4 Ps of Marketing As your company prepares to launch a new product or service to the market, it is essential to have a "Going to Market Strategy" which will serve as a roadmap to execute a successful product launch. USE THIS TEMPLATE More 4 Ps of Marketing Templates Marketing Mix Template About the 4 Ps of Marketing Template

  21. The 4Ps of Marketing with Complete Example

    1. Product Creating a successful Marketing Mix begins with creating a product or service that fulfills a significant customer need. Consumers purchase your product because it satisfies a need or want. These needs and desires are rarely basic; for example, a customer may buy a luxury car to fulfill their need for status.

  22. Understanding Marketing Mix (4Ps & 7Ps) With Examples

    The 4 Ps of marketing is made up of: Price. Product. Promotion. Place. However, because of the increasing demands of the field, there's been an introduction of 7 Ps of marketing which also includes components such as people, positioning, and packaging.

  23. 4 Ps Of Marketing

    1. Product 2. Price 3. Place 4. Promotion Which of the 4 Ps is most important?