4 Ps of Marketing

Exactly what must be communicated to the TG (Target Group) to influence them?

We are now done with the STP analysis. Now, what next? We know whom to communicate to and how to communicate to them. But communicate what?

The answer to this question leads us to the famous 4 P of Marketing. The collection of these 4 Ps is called the MARKETING MIX. It is a crucial tool in determining what a product is offering to the customer. The 4 Ps in the marketing mix is as follows:

·     Product – Product is the first of the 4 Ps of marketing. It can be either a tangible good or an intangible service that fulfils a need or want of the customer. Whether we sell FMCG products or mobile phones or it’s a saloon, it’s essential that we have a clear grasp of exactly what our product is and what makes it unique before we can successfully market it. (Think if you see a completely new brand of a cell phone in a showroom, but the salesman doesn’t know much about it, will you purchase it on the spot?).

·   Price – Once we have properly defined our product, we can start making some pricing decisions. Price determinations are done on the basis of supply, demand and marketing strategies. Price determination is crucial as it impacts the profit margin. Similar products and brands are positioned differently based on their prices. Better the USP, higher the price.


·     Place – we have already defined marketing as putting the right product, at the right price, at the right place, at the right time. It is important for a product to determine what are the critical locations at which it needs to be sold in order to convert a consumer into a potential customer. Today, the most important place at which marketing is and must be done is through online channels.

·      Promotion – We’ve got a product, its price and place. Now it’s the time to promote the product. It is the method of communication by which a marketer provides information about the product to the general public. Promotion includes advertisements, personal selling, word of mouth publicity etc. If marketers are giving some kind of discount, then also it comes into promotional strategies.

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