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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 .

Angle180

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

Learn what the 4 Ps are and how they can help you in your next marketing endeavor.

[Featured image] A man holding a tablet stands in front of a whiteboard where the 4 Ps of marketing are listed in green marker.

The four Ps are a “marketing mix” comprised of four key elements—product, price, place, and promotion—used when marketing a product or service. Typically, successful marketers and businesses consider the four Ps when creating marketing plans and strategies to effectively market to their target audience. 

Although there are many other “marketing mixes,” the four Ps are the most common and foundational to creating a successful marketing strategy . In this article, you will learn more about their purpose, history and find a detailed breakdown of the four Ps. 

What are the 4Ps 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 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 ]. There, McCarthy noted that while the text of the book 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 popularized 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, then, Culliton and Borden recognized 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, and the chia pet provided a humorous experience for consumers that was utterly unique.    

As you are working on your product, it is essential to consider potential customers in 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? 

Read more: Competitive Product: Definition + How to Analyze One

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 business goals. Different pricing models 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, then very few of them 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? 

Read more: What Is a Pricing Strategy? + How To Chose One for Your Business

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

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

For example, imagine you are selling an athletic shoe you designed. 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 are targeting 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 places or digital channels that 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? 

Read more: What Is a Marketing Channel? 6 Types to Prioritize in 2023

Promotion is how you advertise your product or service. Through promotional activities, 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, you can create online marketing campaigns to promote your product, using such channels as content marketing , email marketing , display ads , 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 marketing messages would most resonate with 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 of these reflects certain aspects of the four Ps, they also each 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 centers the experiences of customers and staff in the marketing process. Typical considerations include how a customer behaves, their experience with the product, and their overall satisfaction with the business.  

The seven Ps

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

The seven Ps are a further elaboration of the five Ps, adding considerations of the processes that define the customer experience and the physical evidence that 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,” meanwhile, refers to the place of the company and their available resources in the marketing process. 

How to use the 4 Ps of marketing

Now that you know the 4Ps and other marketing mixes, here is a quick refresher on your main objectives for your marketing strategy:

Communicate the benefits that the product offers potential customers.

Demonstrate how the product's value matches the price.

Place the product where your target audience is most likely to encounter it.

Promote the product in ways that resonate with your target audience.

Build your marketing skills on Coursera

Develop or strengthen your marketing skills with any of these top-rated products on Coursera:

Want to keep learning about the 4 Ps? Define your Ps with Marketing Mix Implementation from IE Business School, which covers brand and product management, pricing strategy, and more.

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Frequently asked questions (FAQ)

What is the most important out of the 4 ps ‎.

All of the 4 Ps—product, price, place, and promotion—are important components of your marketing strategy. They work most effectively when marketers use them in conjunction with one another. You may find yourself focusing on one or another at different phases of business development. For example, you might focus on product and price at earlier stages, while place and promotion might become priorities at a later stage when you’re preparing to introduce the product to the market. ‎

Are the 4 Ps of marketing still useful? ‎

Although the 4 Ps of marketing has been around since the 1960s, the concept is still considered useful, even as marketing rapidly evolves and becomes increasingly digitized. You can think of the 4 Ps as comprising the foundation to developing effective marketing strategies. At the same time, it’s a good idea to use some of the other models—the 5 Ps (product, price, place, promotion, and people) or the 5 Cs (customer, company, competition, collaborators, and climate)—to build a more thorough approach to marketing. ‎

Article sources

Oxford Reference. “ E Jerome McCarthy , https://www.oxfordreference.com/view/10.1093/oi/authority.20110803100143321.” Accessed July 10, 2023. 

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 10, 2023.

HathiTrust. “ Basic Marketing: a managerial approach , https://babel.hathitrust.org/cgi/pt?id=inu.30000041584743&view=1up&seq=1.” Accessed July 10, 2023.

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“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.

https://main--bacom-blog--adobecom.hlx.page/blog/fragments/personalization-at-scale

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.

https://video.tv.adobe.com/v/36376

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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

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

Product, price, place, and promotion are the four Ps in a winning "marketing mix"

business plan 4ps example

The 4 Ps of marketing are product, price, place, and promotion. Often referred to as a marketing mix , they provide a framework that companies can use to successfully market a product or service to consumers. Since the four Ps were introduced in the 1950s, more Ps have been added to the mix, 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.

The four Ps of marketing are:

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

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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.

business plan 4ps example

Free Marketing Mix Templates

Map out your marketing mix with these free templates

You're all set!

Click this link to access this resource at any time.

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.

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

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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.

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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.

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.

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

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) -Does this price seem valuable? (Price) -Do my customers actually shop here? (Place) -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.

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Home > Marketing > Sales

What is the 4P Marketing Matrix?

Micah Pratt

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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

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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.

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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.

Disadvantages

  • 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.

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4Ps Marketing Mix

4P Marketing Mix Template

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

Trusted by 65M+ users and leading companies

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 is the perfect tool 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.

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Event Planning Template

Works best for:.

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.

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REAN Template

Marketing, Strategic Planning, Meetings

First introduced in Cult of Analytics, the REAN model is used to measure and understand the efficacy of marketing efforts. REAN stands for Reach, Engage, Activate, and Nurture, the main stages a marketer’s audiences experience during a typical journey. The REAN model helps marketing teams develop useful KPIs that can help capture how well their marketing or ad campaigns are working. Many teams rely on the REAN model because it is adaptable to a variety of marketing efforts, including planning measurement frameworks, setting goals, deciding on objectives, and mapping digital marketing channels.

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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.

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Product Backlog Template

Agile Methodology, Kanban Boards, Product Management

Development teams are often juggling many products at once. A product backlog is a project management tool that helps teams keep track of projects in flight as they build and iterate, so you can store everyone's ideas, plan epics, and prioritize tasks. The highest-priority tasks are at the top of the product backlog, so your team knows what to work on first. Product backlogs make it easier for teams to plan and allocate resources, but it also provides a single source of truth for everyone to know what development teams are working on.

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A3 Report Template

Product, Strategy and Planning

The A3 report template is a carefully designed tool that provides teams with a structured and visual methodology to tackle challenges. It divides the problem-solving process into background, current context, data analysis, and implementation plans, ensuring a comprehensive approach to each issue. One of the major advantages of this template is its "Data Analysis" section, which enables teams to delve deeply into concrete insights and trends. This data-driven approach ensures that all recommendations and actions are based on real, tangible evidence rather than just intuition, leading to more effective and strategic decision-making.

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PI Planning Template

Agile Methodology, Strategic Planning, Software Development

PI planning stands for “program increment planning.” Part of a Scaled Agile Framework (SAFe), PI Planning helps teams strategize toward a shared vision. In a typical PI planning session, teams get together to review a program backlog, align cross-functionally, and decide on the next steps. Many teams carry out a PI planning event every 8 to 12 weeks, but you can customize your planning schedule to fit your needs. Use PI planning to break down features, identify risks, find dependencies, and decide which stories you’re going to develop.

  • Marketing |
  • 4 P's of marketing: How to achieve the ...

4 P's of marketing: How to achieve the perfect marketing mix

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The 4 P’s of marketing are price, promotion, place, and product—the four key factors every marketer should use to guide their campaign strategy. Our guide covers the 4 P’s of marketing and gives a breakdown of each step involved.

The 4 P's approach works for any industry, and can be applied to any business, from solopreneurs to enterprise organizations. In our guide, we'll cover what the 4 P’s of marketing are, then break down exactly how to incorporate them in your next marketing campaign.

What are the 4 P’s of marketing?

The 4 P's stand for product, price, place, and promotion, the four primary factors that marketers need to consider when designing a campaign strategy.

A marketing strategy should:

Communicate what the product will provide the customer

Demonstrate why the product's value fits its price

Appear in the places the company's target audience will encounter them

Use effective promotion strategies to reach potential customers

Keep these four objectives in mind as you craft your marketing strategy. The 4 P's should influence your product positioning, marketing channel selection, advertising decisions, promotional strategy, and copy choices throughout the campaign.

How do the 4 P’s work?

Knowing what the 4 P’s are isn't very helpful unless you also know how to implement them in your marketing strategy . Below, we'll break down each P to help you better understand what they are, why they're important to your marketing efforts, and how you can incorporate them into future campaigns.

The first P: Product

[inline illustration] The first P: Product (infographic)

In the marketing mix, "product" is shorthand for whatever it is that you're selling, whether it's a physical product or a service. A strong marketing campaign starts with a clear and detailed understanding of the product and how it appeals to the target customer.

For example, a car advertisement that only highlights details like what the car looks like and how much it costs isn't very compelling. Guided by a complete understanding of the product they're selling, a more skilled marketer might pitch an SUV crossover advertisement that emphasizes unique safety features in order to specifically target parents of small children. 

Example product questions

What problem is your product solving? Consider what challenges your target customers encounter and what impacts those challenges have.

Who is your target customer? Think about what type of person is most likely to find value in your product.

How does your product address your target customer’s needs? Home in on how specific features of your product address specific customer demands.

What does your product offer that competitors' products do not? Determine how your product solves customers' needs more quickly, effectively, or affordably than competing products.

Put yourself in your target customer's shoes to more thoroughly understand what your product has to offer. With a better understanding of the specific ways in which your product offers value to the customer, you'll be able to market that product more effectively.

The second P: Price

[inline illustration] The second P: Price (infographic)

The second P of marketing stands for “price.” This is how much you should charge for your product in order to make a profit. When creating your pricing strategy, a good place to start is by looking at your competitors. 

Checking how much your competitors charge gives you a good sense of how much potential customers are willing to pay for similar products. Combine that with the perceived value of your product—in other words, what you want your price to imply about your product. Are you a luxury, standard, or budget option?

You can use your marketing messaging to focus on these different price points. Don’t forget to also think about coupons, discounts, offers, and bundles that are popular in your marketplace.

Example price questions

What do competing products cost? This is a great starting point for market research and gauging your product’s price range.

How much are your customers willing to spend? Thinking about how much your potential customers are willing to spend will help give you a price cap.

Can your product have multiple price points? Looking at the potential to have several price points for different levels of subscriptions or products can open you up to a larger demographic.

What does your product cost to create? Understanding how much it will cost you to make a product or provide a service will help you determine your profit margins.

If you've priced your product correctly, you should be selling it at a cost that's affordable for your target customer and still brings in a profit.

The third P: Place

[inline illustration] The third P: Place (infographic)

The third P of marketing stands for “place.” This encompasses where you are in relation to where your customer is, as well as where you need to place your advertising in order to reach your target audience.

It doesn't take a master strategist to know that a physical product or service needs to be available where potential customers live, shop, and work. However, place will impact your marketing strategy, too.

If you operate a physical store, it's unlikely that customers will come from far away to buy your product. Generalized marketing methods will always be effective, but you may get a greater return on investments in local SEO, advertising in town newspapers, and co-sponsoring community events.

The same principle applies to locating your target audience online. For example, if you're targeting Gen Z social media influencers, you'll probably be wasting valuable budget by advertising on platforms that cater to older audiences like Facebook or LinkedIn.

Example place questions

Where does your target customer purchase similar products? Think about whether your potential buyers will purchase your product in a store, conference, online, etc., in order to determine the best place to sell your product.

Where is your customer located? Knowing where your customer lives or spends their time shopping is an important aspect of developing a marketing strategy.

Are you business or consumer-focused? Deciding whether you are selling directly to individuals or businesses will help you determine where to sell your new product.

Where are your competitors selling their products or services? Use your successful competitors as a guide on where to sell your products. They are great indicators of which place(s) will be most successful.

The fourth P: Promotion

[inline illustration] The fourth P: Promotion (infographic)

The last P of marketing stands for “promotion.” If product is what you're selling, price is how much you're selling it for, and place is where you're selling it, then promotion is how you're promoting the sale. 

In designing your promotion strategy , think through how you want your messaging to be received. Is your brand fun and clever, upscale and luxurious, or serious and intellectual? Nail down your brand voice and then keep it consistent across all of your marketing.

It's also important to determine what messages will perform well on different platforms. A multiple-paragraph post will be ignored on Facebook or Instagram, but might make an excellent SEO opportunity for your blog. You might be targeting audiences that use both LinkedIn and TikTok, and you may even be promoting the same message across channels, but you'll need to tailor the format of your content to match each platform.

Example promotion questions

Who is your target audience? Understand who you're speaking to so you can decide what voice and tone will resonate the most.

How do you want your brand to be perceived? Think about what brand personality makes sense for your product and industry.

What distribution channels does our target audience use to consume information? Don't sabotage your message by promoting it in the wrong place.

How are competitors promoting their products? Using your competitors as your guinea pigs for promotion experiments is a great way to find out what works and learn from their mistakes.

Can you capitalize on seasonality? If your target audience's behavior changes drastically from summer to winter, create different marketing strategies for different times of the year.

4 P’s vs. 7 P’s of marketing: What’s the difference?

The 4 P's first appeared in a book called Basic Marketing: A Managerial Approach that was published in 1960. Though the 4 P's are still just as applicable today, the original marketing mix didn't account for modern factors like the specific challenges of online marketing or the massive variety of products available today. 

That's why some marketers like to use an expanded list that contains an additional three P's: people, physical evidence, and process.

The 7 P's of marketing

The 7 P's of marketing include the original four (product, price, place, and promotion) plus three people, physical evidence, and process.

People represent a company’s internal team and staff members that provide a service or sell the product. Impressing potential clients with great customer service is important because many people can’t separate their feelings toward a  product from their buying experience.

Physical evidence is "proof" that the claims and statements you're making in your marketing and advertising materials are true. This proof can include customer reviews, case studies, and testimonials that show your target audience that your existing customers are satisfied with your product.

Process pertains to the transportation and delivery of your product. Word-of-mouth is one of the most effective forms of advertising there is, so investments in safe and speedy delivery, pleasant purchasing interactions, and effective customer support are really investments in marketing.

Use the 4 P's to start your marketing campaigns on the right foot

The 4 P's aren't something you can implement as an afterthought. To utilize the 4 P's effectively, incorporate them into every step of your marketing campaign. 

From your initial organizing stages all the way through to campaign launch, the presence of the 4 P's should be evident in your marketing strategy every step of the way.

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  • Building Your Business

What Are the 4 Ps?

business plan 4ps example

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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.

business plan 4ps example

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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!

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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.

Product  

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 .

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 .

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  

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.

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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

“What-The-H...?”.

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. 

Conclusion  

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.

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business plan 4ps example

4Ps Marketing Mix Analysis Template

Are you looking for a free 4Ps framework generator? Check out our free marketing mix analysis template and get a custom report for your project in a matter of seconds! All you have to do is add the data, choose the design, and download the result.

Looking for an efficient 4Ps framework template? Search no more; try our efficient 4Ps generator and get a tailored report for your marketing strategy in just a few clicks. You no longer have to worry about cumbersome meetings to brainstorm a perfect marketing approach when you can use our free tool and save time.

  • 📊 How to Use the Template

🚀 4Ps Framework Explained

📍 4ps framework step by step.

  • ✅ The Tool’s Benefits

🔗 References

📊 how to use 4ps marketing mix analysis template.

Using our 4Ps framework tool is quite simple. You can generate stellar results after 3 steps:

  • Add relevant information about your business and the product or service you are selling.
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You can access our free tool and generate the perfect marketing plan to boost your business to greater heights.

What is a 4Ps framework ? It is a popular framework used by many businesses to set an effective marketing mix. It consists of 4 elements.

We shall delve into the marketing mix 4Ps in the next section.

What Is the Importance of Marketing Mix?

A marketing mix helps you have a deeper understanding of your products or services and if customers are satisfied. You will also be able to implement successful product deliveries. Apart from knowing how and when to conduct product promotions, you will also be better positioned to handle business risks with a solid marketing plan. You can also use the marketing mix for consulting or innovation purposes to improve your products or services.

What Are the Four Ps in Marketing?

The four Ps of marketing are theoretical elements vital for any business to succeed. Many businesses need a strategic marketing plan to ensure customers get the right product. Thus, the four Ps are major aspects you must consider for successful marketing.

The list below is a representation of the 4Ps:

These components are also known as the marketing mix. Sometimes the framework can go up to seven elements in advanced marketing plans.

What Are the Four Elements of the Marketing Mix?

Let us explore the 4 elements of the marketing mix.

The four Marketing Mix elements are:

What Is Place in the 4Ps of Marketing?

Place in marketing mix refers to the location of your company's operations. Where will the customer access your services? Is it a physical shop or an online store? Whatever the case, your customers should be able to locate your business easily. If you have a website or ecommerce store, ensure it is user-friendly and easy to navigate.

If you want to develop a practical 4Ps framework, follow the steps below:

  • Identify one product or service you want to market.
  • Evaluate how your product or service will meet the target customers' needs.
  • Analyze the market to understand customer behavior, like the preferred shopping locations.
  • Set a realistic product price after thorough market research.
  • Formulate a promotional plan and marketing concepts.
  • Look at your 4Ps and check if the details align with your product.
  • Review your marketing mix to determine its effectiveness and adjust where necessary.

It is important to keep evaluating your marketing mix to ensure it provides optimal results.

📂 4Ps Framework Free Example

Let us take an example of the Coca-Cola Company to understand its 4Ps marketing mix.

✅ Marketing Mix Template Benefits

A 4Ps generator is an important tool to help you develop a proper marketing strategy.

Here are the benefits of using our 4Ps framework generator:

  • Easy to access. You can use the online tool anytime as long as you have a device and an Internet connection.
  • No payments. The tool is free without hidden charges.
  • No downloads. You can access the tool directly using your browsers. There are no downloadable apps or extensions.
  • Time-saving. Its simplicity saves time because the tool is self-explanatory
  • User-friendly. The framework is user-friendly and generates quick results.

Thank you for reading this article! If you want to try other free business analysis templates, check our 7Ps generator , STP template , 7S template generator , and a SMART goals maker .

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This page contains 4Ps framework generator. The classic 4Ps Marketing Mix model consists of four components: Product, Price, Place, and Promotion. These elements are vital for any business to succeed, as they give a deeper understanding of products and services.

Markooo

The 4 P of Marketing: Explained (with Examples)

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I love to talk about marketing strategies because it is one of those things that can actually help you in growing your business and one of these strategies is definitely the Four P of marketing.

The Four Ps are an acronym for Product, Price, Place & Promotion.

So what does this ultimately mean?

It means that if we want our customers to buy from us then we need to be able to provide a product or service they will find valuable enough to pay for.

4Ps of marketing

We also have to price it at a level where they won’t feel like they’re being ripped off.

And finally, we should promote ourselves in ways that get our message across effectively.

In contrast, here are three things I don’t think any company wants their customer to do:

  • Pay too much – If you charge more than necessary, you’ll lose potential buyers because they’ll look elsewhere.
  • Not use your services – You may not even know how good your products or services really are!
  • Ignore your promotion efforts – It doesn’t matter how many times you try something new; if no-one knows about it, it didn’t work.

Therefore, let me show you why these four P’s are important and how you can start using them today.

So firstly, let’s define what is 4P in marketing and then break down each of the four Ps individually.

What Is The 4P In Marketing

Well, there are two main parts to the 4Ps.

The first part is ‘Product’ which refers to the actual thing you offer. This could be physical goods, digital content, events, experiences, etc.

Then there’s ‘Promotion’, which simply means getting the word out about your product or service. In other words, making sure others know about it i.e. marketing communications.

We could spend time talking about the process of customer decision making and how this relates to 4Ps, but let’s take a closer look at each of the four Ps separately because that will give you even better understanding for more focused marketing strategy .

1st P is Product

Just like the name suggests, Product refers to the actual thing you’re offering.

It can be anything from a physical item such as clothes to digital content such as an eBook or courses.

Products also come in all shapes and sizes too so it’s important you segment what you offer.

This will make it easier for you to market to different target markets and to boost your overall results.

What should be included in your product or service? In other words, what will people get from it?

Again, think practically and try to come up with a shortlist of 10-20 features or benefits explaining why someone would want your product or service.

For example: Now think about whether there are any additional services that could complement your offering.

List them out – 10 to 20 items.

On top of that, think about what you could give as a free gift to your potential clients.

This is relatively easy if you work in a service-oriented business, but even companies that manufacture and sell physical goods can consider giving away something of value for free.

The goal here is to create an overview of the entire product or service and then highlight everything it has to offer. What do customers get from purchasing it?

Here’s an example of a product with multiple layers:

Sometimes, it’s not possible to decide on which features you want to highlight right away.

In these cases, think about the quality of your marketing materials.

If they are flashy but basic, people may be more inclined to focus on just what they see on the surface rather than anything else that might be hidden inside.

That being said, I’d recommend creating something realistic for your first try.

It’s simpler and usually works better than coming up with something over-the-top at first.

2nd P is Price

I don’t need to tell you that this is of high importance because all organizations are concerned with price.

It’s an intrinsic part of any business. If people won’t pay for it, the business can’t survive!

If you’re selling a service or product then price is what your customer pays to own it.

And if you want to sell more of that service or product , you have to increase the price and so on and so forth.

You should also think about whether you want to charge based on value or the number of features.

In other words, are people really likely to buy something because it costs more (value-based pricing) or are they more likely to be interested in what you have to offer no matter how much it costs (feature-based pricing)?

That’s a tough question and there’s no one right answer.

On one hand, we all know that paying less is always good unless you’re talking about convenience or quality.

I mean, let’s face it – nobody wants a cheap haircut if it looks like someone butchered their hair with hedge clippers! So charging based on value might not work all the time.

On the other hand, there are people who will purchase an item no matter how much it costs just because they really need or want it.

It all depends on your budget and willingness to take a risk.

If you have a small capital investment, I’d recommend starting with value-based pricing since it’s easier to scale and can be more effective in the long run if executed properly.

If you’re going big, though, go straight for feature-based pricing and make sure that every penny is worth it!

The most important part of deciding on price is determining what you need to earn from each sale in order to achieve your goals.

For instance, let’s say you came up with 10 features and benefits that explain why someone should buy from you. Of course, your goal is to sell each product or service for the highest possible price!

But how much could you earn?

To make this decision easier, divide the total cost of creating your product by the number of features you have and then multiply that result by 100.

For example: Let’s say it costs $1,000 to create a set of 4 pillows with different designs (colorful feather pillows will look good on our bed).

Each pillow has 1 feature (feathered edges). That means I need to charge at least $25 per pillow if I want my goal ($50,000) to be realistic.

Then, just add up all the expenses related to making each pillow and divide it by the total number of features.

The result will be the price for each feature (in this case, $5 per pillow). This is what people have to pay for your product or service.

Finally, add up all the prices for each feature and multiply it by 100 to find out what the end cost is.

Of course, you can always adjust these numbers later on depending on how much profit you want to make or how competitive your market is.

3rd P is Place

Place refers to where your products or services are available.

Once you’ve decided whom you want to sell them to (target market), it’s important that you let them know how and where they can get hold of what it is you’re offering.

What are some ways we can do this? Well, if you have a website with an online store then that is one place where they can get it. Or, in other words, on your site.

Think about it like this – if all else was equal but the place differed, which option is more favorable from a marketing efforts standpoint?

Think about your target audience, their preferences and buying habits.

Here’s an example of a business that has a lot of options for placement:

It can be offline or online. Even better – it can be both!

It might not make sense to do this at first, but if you’re planning ahead, then this is important information to keep in mind.

Alternatively, if you want to start out with something simple and relevant right away, think about advertising on websites that match your target audience’s demographics and interests based on publicly available data.

Also consider places where people are likely to look for products like yours (i.e., Google search results).

If you’re not sure what works best for your business just yet, try doing some research.

4th P is Promotion

This one is a biggie and encompasses all the ways you communicate your product or service to your customers.

Once you have a plan for yourself, it’s time to start promoting your business in the wild.

There are many different ways to go about this – email campaigns , social media marketing, content creation and sharing… The list goes on and on!

I’d recommend starting small with a few ideas you know will work and then expand from there once you’ve seen some results.

However, stay realistic – take into account any limits or obstacles that may keep you from being successful and adjust accordingly (by changing strategies or lowering your expectations).

New businesses can be particularly vulnerable to failure if they concentrate too much on promotion while neglecting other important areas such as product development.

Remember that people tend to be more attracted to what they already know or have experienced in the past.

In other words, it’s better to create something great (or at least very good) and promote your services instead of offering poor quality products / information that nobody really wants.

You may also want to consider keeping costs low by finding partners for joint promotion efforts.

Do you know any businesses that would be willing to promote your product if you did the same? When done correctly, this can save a lot of money while providing both parties with additional exposure.

Collaborating with another business doesn’t necessarily mean less work – quite the opposite – but it does provide meaningful results faster than promoting on your own.

Here’s an example of a new business owner who is doing pretty much everything right from a marketing standpoint:

She has created a simple, realistic plan.

She has gathered all the necessary data and done her research.

Her plan reflects her business’s greatest strengths and weaknesses.

She is promoting herself both online and offline – via email campaigns, social media ads etc.)

Finally, she is using marketing materials that are relevant to her target audience.

Once you’re able to incorporate these four P into your own business model, you’ll be well on your way towards successful long-term growth.

In summary, here are some tips for implementing the 4Ps into your marketing strategy:

  • Product – Find your business’s greatest strength and match it to a product / service that meets the needs of your target audience. Keep in mind that you can always offer several different products or services, but they should all fit into your overall business model.
  • Price – Decide on a price that’s fair to your customers. You can always raise prices later, but it’s much harder to lower them. Lastly, take advantage of alternative pricing schedules (such as “buy one get one free”) when appropriate.
  • Place – Determine where you want to sell your products and services – offline or online? It’s important to do the proper market research before making a final decision.
  • Promotion – Decide how you plan to promote your business – with or without an online presence?  It’s also important to create realistic goals based on your resources (money, time etc.). A very small investment in promotion is often better than no effort at all.
And remember, the most important ‘P’ here is to be persistent; whatever you’re selling, follow-through and stay focused on your target market.

And of course, keep experimenting until you find what works for you!

Now that we have covered all 4P’s, I want to give you an example of combined 4P framework so you get even better understanding of each one of them.

Marketing 4Ps Example

The first example.

The first example shows us that a business has an existing product that they are offering.

The business also offers other products and services in addition to this one, but the first is being used as a primary example.

The business is offering $10 worth of service for the month, which would be equivalent to $120 if purchased continually without stopping.

The place of purchase is online only and there will not be any offline delivery.

One key factor that may reduce the amount of profits made from this particular product would be its exclusivity.

It appears that only one individual or group could use it at a time, which makes it difficult to market on a larger scale when you need more customers than that.

However, because this production happens almost entirely online, costs can easily go down by cutting out traditional advertising methods.

Traditional forms of advertisement such as televisions, newspapers and radio usually cost a lot to maintain each month.

The content for these advertisements are also created at the same time which means that multiple people are needed to create them.

Digital marketing is much more efficient in terms of money spent on advertisement.

With Facebook, these ads can be carefully targeted based on demographics and other useful information about the audience being advertised towards.

The place of this business’s product is almost entirely online.

This means that no additional physical infrastructure needs to be built by order to fulfill the demand for customers who would use it outside of their home/office computers.

The second example

The second example shows us that the business produces a product that can be delivered directly to customers for a price.

The service being provided is also unique in that it can only be purchased from one location, unlike common products such as food/drinks and electronics which have multiple stocked warehouses across the country.

Since this product is not something your typical customer would use on a daily basis, there are no additional costs involved other than the initial purchase cost.

There are plans to offer more services like this in the future but they will work independently of this set up so it does not affect profit margins or cash flow.

The place of this business’s product is both online and offline, however this one offers a service for the price of $60+.

If it was sold in physical stores, which are usually more expensive to run than their online counterparts, then average consumers would not be able to purchase the products regularly because they would have less money left after paying for rent/utilities and other living costs.

When a customer purchases this product, it also comes with access to the service provider which means that traditional advertising methods are not necessarily required.

It is believed that most sales come through people visiting and reading information posted by this company on social media websites such as Facebook and Instagram.

This type of business has its customer service section separated into individual stores or businesses that are a part of the overall brand and image.

If traditional advertising was used then it would be very costly to advertise on such a large scale so it is not believed that this method is currently being used (if at all).

The main marketing tool for this company may involve social media instead.

In addition to that, this business has a website as well which may be visited by customers in order to learn more about the product.

They have integrated themselves into the online community in order to market their product and service offerings on a global scale.

Many people have heard of this brand or company before so it is not necessary for them to market themselves as heavily since they already have a certain amount of recognition among potential customers.

Marketing through social media has proven itself as an effective method for promoting information on a large scale so it’s possible that most new customers are attracted to buy from them based on what they see online rather than recommendations from other customers.

After having a positive experience with their product, many customers may recommend them to others through word of mouth which is considered to be the most effective way for businesses to attract new customers.

As stated previously, since there are no costs involved in running this business aside from paying for advertising, they can scale faster.

In conclusion, marketing should be focused on helping others achieve success.

The four Ps framework helps us identify which parts of our businesses require improvement.

By using these tools, we can improve our own personal performance while simultaneously improving the quality of our service offerings.

Marketing 4P Mix

Marketing mix is often associated with the 4 Ps of marketing, but it’s not strictly limited to those four elements.

For example, in addition to the 4Ps, there’s also a fifth element that’s important for businesses – Product Life Cycle (PLC).

But also there can be even more elements to a marketing mix, like 6Ps or 7Ps. This is known as the extended marketing mix.

Of course each element must be matched with specific consumers’ needs and preferences.

Ideally the buyer’s decision making process can be divided into five stages:

  • Problem recognition
  • Information search
  • Evaluation of alternatives
  • Purchase decision
  • Post‐purchase behavior

The customer buys a product at one stage in the process, while he/she may consider other options at different stages.

Problem recognition and information search are the first two stages in the decision making process.

This is where marketing campaigns can be targeted to create awareness about a product and to make potential buyers aware of its benefits.

Next comes the evaluation of alternatives , which means evaluating different brands and their products.

This is where the competitive successful marketing strategy comes into play.

Buyers can be influenced by internal and external information that surround him/her during all stages in this process, but especially at evaluation of alternatives.

When consumers are presented with two or more choices, they will try to estimate their relative worth by comparing different attributes of each option.

In other words, the marketing mix plays a huge role for each key element.

In order to be able to influence consumers, marketers must first know their needs and wants in advance.

As mentioned earlier, the traditional marketing mix (4Ps of marketing) are considered to be: Product, Price, Place and Promotion.

Other elements can include more or less factors that affect the overall marketing performance.

Information about competition is also important when evaluating potential market opportunities and threats.

For example, if your product isn’t differentiated from others it’s much harder to sell it as compared to other products with different (or additional) features.

If you’re starting a new business in an existing market where there’s lots of competition – without being aware of competitors’ strategies etc., you may end up trying to sell a product nobody needs.

If this happens, you can always adjust your marketing strategy by making minor or major changes in the 4Ps.

For instance, changing prices might help you gain some customers who were previously unwilling to buy because of high prices.

This would potentially improve customer experience especially if pricing decisions were a main friction point.

However, if you don’t have any idea what kind of pricing strategy would work best for your particular situation, then you should probably start off with something simple.

You could offer free samples, discounts on certain items, special offers, etc.

These tactics won’t cost anything upfront, so you’ll get immediate feedback on how effective these approaches are.

All in all, the most successful businesses tend to focus on providing great value to their target audience and they do this through offering unique solutions to problems, creating useful content, building trust, delivering superior service, etc.

Remember: The goal isn’t necessarily to spend money; rather, it’s to generate leads and increase conversions.

Once you know what type of lead generation works best for your business, you can decide which channel to invest time and resources into.

4P in marketing plan

I want to show you how you can incorporate 4P in your marketing plan. This especially works well for digital 4P integration.

Let’s say that you already have a business, you are profitable, but you want to grow even more. You also realize that there is still room for improvement.

In order to achieve this, you should start by analyzing where you stand today.

What does your current situation look like? How much revenue did you earn last year? Did you lose any customers during the past 12 months? If yes, then you probably didn’t improve enough over the years.

If not, congratulations! Your business is doing fine right now.

However, you might be missing some opportunities to expand further.

To figure out what could help you grow faster, you must analyze all aspects of your business.

For instance, do you sell products directly through eCommerce websites? Or do you offer free samples? Do you provide customer support via phone calls or email messages? Are you using social media platforms to promote your product?

If so, great job! Now you’re ready to move forward.

Now we came to the part on how to implement the 4 Ps strategy successfully…

Here are some tips from personal experience developing growth strategies for my clients.

I recommend starting small by creating a simple landing page. Then test different variations of content and calls-to-action.

You may also consider using split testing software like Optimizely or Google Analytics so you can easily compare results across multiple versions of pages.

When you’ve found something that converts better, keep improving it! And always stay true to yourself and your brand.

Here’s quick recap:

  • Who am I targeting?
  • What problems do they face?
  • How can I help them solve their problem?
  • Focus On One Goal At Once – It might seem tempting to try to tackle several issues simultaneously, but this approach usually ends up being counterproductive. Instead, focus on one thing at once. If you want to grow your email list, then make sure all other aspects of your campaign revolve around building subscribers.
  • Be Consistent – It is important to stick to your guns and not deviate too far from your original vision. Otherwise, people won’t trust you anymore. They will expect you to change direction every now and again. So, if you want to build long term relationships with your audience, you need to show them that you mean business.
  • Don’t Forget To Measure Results – The most effective way to measure success is through data. Make sure you track everything – including clicks, impressions, bounces, form submissions etc. It doesn’t matter whether you use tools such as Google Analytics or Hubspot . Just make sure you collect enough information to see trends over time.
  • Keep Improving – Don’t stop improving your user experience and conversion rate just because things are working well. Always strive to improve upon what’s already been done. The more effort you put into making changes, the faster you’ll reach your goals.

Questions About The Four Ps

Can i have a successful marketing plan without 4ps.

Yes, of course! But it will be much more difficult and time consuming than with the help of these four Ps.

So, don’t worry about having an “all in one package” solution.

You should start with whatever works best for you.

And remember – there is no right answer here. Every company has its own unique needs and challenges.

Do I need to have a marketing team and marketing process to use 4Ps?

No, not at all! You can do it yourself with the help of these two things:

  • A good sales funnel. This allows you to segment your leads based on where they came from and how many times they visited your site before submitting contact info.
  • An autoresponder service. These allow you to send automated emails to your contacts after they sign up for your newsletter.

These two things alone will get you started.

Then, add some analytics, social media management and content creation.

This way you will have an insight into what works to polish your 4Ps and improve your marketing process.

Is there some other marketing model besides 4P that I should be aware of?

The four Ps are a good starting place, but they’re not the only way to think about your business and its customers.

There are plenty of different models out there.

Don’t obsess over these things for long because you should pay attention to three main KPIs and your marketing model will be a secondary priority.

These three KPIs are:

  • NPS : This metric measures customer loyalty by asking questions like “How likely would you recommend our product/service?” and “What percentage of your total revenue did we generate?”.
  • CAC : This is basically the cost required to acquire each new customer. For example, let’s say you spend $100 per lead generated. If this number is high then you might consider lowering your price points. On the contrary, if it’s low then maybe you could increase your prices.
  • LTV : This is calculated by multiplying the average lifetime value of a customer by their retention rate. In simple terms, it means how much money does your current customer bring in compared to the amount spent acquiring him.

Will 4Ps marketing reduce costs for my marketing budget?

Yes it will and it does that by reducing time wasted on ineffective activities.

You’ll save lots of time and effort which you can use to focus more on growing your company instead of wasting resources on unproductive tasks.

Which of the 4P of marketing is most important?

I think it’s all about your target audience and their needs, right? So, I would say 1st P i.e. Product and combine it with your ideal customer.

Let me give you a few examples on why: If you sell software products, you probably know who your ideal customer is.

  • But do you really understand them?
  • Are they looking for something specific?
  • What problems do they face when buying from you?
  • How can you help them solve those issues?

That’s where you start!

You don’t need to go deep into psychology here.

Just ask yourself: Who am I trying to reach? Why do they need my solution? And what problem do they face while searching for solutions online?

Then try to find out what kind of content they’re interested in reading.

Now you have an idea of what type of blog posts you should write next.

If you sell services, you may also identify your ideal client but you won’t get as many opportunities to talk directly to them.

Instead, you’ll have to rely on indirect ways such as surveys, case studies, testimonials, etc.

To overcome this challenge, you can still apply the same principle.

Find out what people like about your service and offer similar features in your product.

For example, if you provide web design services, you can include freebies like templates, icons, fonts, etc.

If you sell physical goods, you can simply look at your competitors’ catalogues and see what types of items they carry.

Or even better, visit local stores and observe what kinds of things people actually purchase.

This way you can figure out what exactly your potential clients are looking for.

So, how much money did you spend on advertising last year? Did you notice anything different after spending so much money? Probably not because you didn’t take enough actionable data before making decisions.

All in all, these four Ps in marketing are very powerful tools that every entrepreneur should use to their advantage.

They help us understand our customer base and give us insight into who exactly we need to reach out to.

It helps us create relevant messages that resonate well with our customers.

We can then tailor our message accordingly based on their interests and preferences.

It allows us to make informed choices regarding our business strategy and ultimately leads to higher conversion rates.

In short, the Four Ps of marketing are extremely useful tools that any business owner must master.

  • Product- Ideal Customer : A persona is a fictional character used to represent one or more real individuals. In marketing terms, it’s someone who represents a group of consumers.
  • Price-Value Proposition : Price is only part of the value proposition. Value includes quality, delivery time, reliability, support, brand name, etc.
  • Place-Geography : Place refers to the location of your target audience. Geographical targeting involves selecting geographic areas which match certain criteria.
  • Promotion-Channel : Promotion channel is where you advertise your products.

Hopefully now after reading this article you have a complete understanding of 4Ps of marketing. I wish you good luck!

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McDonald’s Marketing Mix (4P) Analysis

McDonald’s marketing mix, 4P, 4Ps, product, place, promotion, price, marketing strategy, restaurant business analysis case study

McDonald’s marketing mix (4Ps) involves approaches that meet business objectives in different markets around the world. The marketing mix defines the strategies and tactics that the fast-food restaurant company uses to reach target customers, in terms of products, place, promotion, and price (the 4P). In this business analysis case, McDonald’s has corporate standards that its marketing mix applies globally. For example, the company’s standards for productivity are implemented in the management of each company-owned and franchised location. McDonald’s also applies some variations in its marketing mix to suit the conditions of local or regional markets. For instance, the food-service company’s promotion strategies and tactics focus on online media in some countries, while television advertising is prioritized in other markets. The specifics of the 4P variables define the strategies and tactics that McDonald’s uses in executing its marketing plan and achieving related marketing strategy goals to grow the multinational restaurant chain business.

McDonald’s effectiveness in implementing its marketing mix contributes to the leading performance of its brand and business in the international fast-food restaurant industry. The company’s strategic management considers how its 4Ps relate to the marketing strategies of competitors, like Burger King , Wendy’s , Dunkin’, and Subway, as well as other food-service firms that compete with McCafé, such as Starbucks Coffee Company . McDonald’s marketing mix facilitates effective reach to target customers around the world. This condition supports the company’s global industry position, as well as the strength of its brand, despite the strong force of competitive rivalry shown in the Five Forces analysis of McDonald’s Corporation .

McDonald’s Products

As a food-service business, McDonald’s has a product mix composed mainly of food and beverage products. This element of the marketing mix covers the organizational outputs (goods and services) that the company provides to its target markets. McDonald’s product mix has the following main product lines:

  • Hamburgers and sandwiches
  • Chicken and fish
  • Snacks and sides
  • Desserts and shakes
  • Breakfast/All-day breakfast

Among the 4Ps, products are a fundamental determinant of McDonald’s brand and corporate image. The company is primarily known for its burgers and fries. However, the business gradually expands its product mix. At present, customers can purchase other products, like chicken and fish, desserts, and breakfast meals. McDonald’s generic competitive strategy and intensive growth strategies influence the product lines included in this element of the marketing mix. In diversifying its product lines, the fast-food chain satisfies market demand and improves its revenues. In terms of risk, a more diverse product mix reduces the company’s dependence on just one or a few food-service market segments. This element of McDonald’s marketing mix indicates that the firm innovates new products to attract more customers and improve its business stability.

Place/Distribution in McDonald’s Marketing Mix

This element of the marketing mix enumerates the venues or locations where products are offered and where customers can access them. In McDonald’s marketing strategy, restaurants are the most prominent places where the company’s products are distributed. However, the fast-food company’s distribution strategy utilizes various places as part of this 4P variable. The main places or channels through which McDonald’s distributes its products are as follows:

  • Restaurants
  • McDonald’s websites and mobile apps
  • Postmates website and app, and others

McDonald’s restaurants are where the company generates most of its sales revenues. Some of these restaurants also manage kiosks to sell a limited selection of products, such as sundae and other desserts. Some kiosks are temporary, as in the case of kiosks used in professional sports competitions and other seasonal events. This element of McDonald’s marketing mix also involves the company’s mobile apps. These virtual places are where customers can access information about the company’s food products and buy these products. For example, the company’s mobile apps for iOS and Android let customers claim special deals, find restaurant locations, place orders, and pay for such orders involving participating McDonald’s restaurants. Furthermore, customers can place their orders through the Postmates website and mobile app. This element of the marketing mix supports strategic goals based on McDonald’s mission statement and vision statement , especially in serving more customers around the world.

McDonald’s Promotion

This element of the marketing mix defines the tactics that the food-service business uses to communicate with customers. Among the 4Ps, this variable focuses on marketing communications with target customers. For example, the company’s marketing strategy provides new information to persuade consumers to purchase its new food products. McDonald’s uses the following tactics in its promotional mix, arranged according to significance in the business:

  • Advertising (most significant)
  • Sales promotions
  • Public relations
  • Direct marketing

Advertisements are the most notable promotion tactics in McDonald’s marketing strategy. The corporation uses TV, radio, print media, and online media for its advertisements. On the other hand, sales promotions are used to draw more customers to the company’s restaurants. For example, McDonald’s offers discount coupons, freebies, and special deals and offers for certain products and product bundles, as a way of attracting more consumers. In addition, the company’s marketing mix involves public relations to promote the fast-food business to the target market through goodwill and brand strengthening. For instance, the Ronald McDonald House Charities and the McDonald’s Global Best of Green environmental program support communities while boosting the value of the corporate brand. Occasionally, the company’s promotional mix uses direct marketing, such as for corporate clientele, local governments, or community events and parties. In this element of its marketing mix, McDonald’s Corporation emphasizes advertising as its main approach to promoting its products. The brand and other business competitive advantages specified in the SWOT analysis of McDonald’s contribute to the effectiveness of promotional activities in this marketing mix element.

Prices and Pricing Strategies in McDonald’s 4Ps

This element of the marketing mix specifies the price points and price ranges of the company’s food and beverage products. The aim is to use prices to maximize profit margins and sales volume. In its 4P, McDonald’s uses a combination of the following pricing strategies:

  • Bundle pricing strategy
  • Psychological pricing strategy

In the bundle pricing strategy, McDonald’s offers meal sets and other product bundles for prices that are discounted, compared to purchasing each item separately. For example, customers can purchase a Happy Meal to optimize cost and product value. On the other hand, in psychological pricing, the company uses prices that appear more affordable, such as $__.99 for a meal instead of rounding it off to the nearest dollar. This pricing strategy encourages consumers to purchase the company’s food products based on perceived affordability. Thus, this element of McDonald’s marketing mix highlights the importance of bundle pricing and psychological pricing to encourage customers to buy more products. The cost objectives, requirements, and limits in McDonald’s operations management account for the price points in this marketing mix.

  • Kucuk, S. U. (2023). Marketing Mix Modeling and Coordination. In Visualizing Marketing: From Abstract to Intuitive (pp. 103-115). Cham: Springer International Publishing.
  • McDonald’s Corporation – Form 10-K .
  • McDonald’s Corporation – Exclusive Deals .
  • McDonald’s Corporation – Full Food Menu .
  • McDonald’s Corporation – Mobile Ordering .
  • Rajer, N. (2023). New marketing models for developing a marketing strategy. International Journal of Innovation in Marketing Elements, 3 (1), 23-29.
  • Reddy, T. N., Ghouse, S. M., & JS, R. K. (2023). Marketing Mix – Review of P. Research Journal of Humanities and Social Sciences, 14 (1), 55-58.
  • U.S. Department of Agriculture – Economic Research Service – Food Service Industry Market Segments .
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  • Educators, Researchers, and Students: You are permitted to quote or paraphrase parts of this article (not the entire article) for educational or research purposes, as long as the article is properly cited and referenced together with its URL/link.

4Ps of Marketing Template

4 ps of marketing.

4 Ps of Marketing Template

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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

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Restaurant Marketing Mix and 4Ps (Updated 2023)

February 6, 2024 | By Hitesh Bhasin | Filed Under: Marketing Mix of Brands

The Marketing mix of Restaurant analyses the 4Ps of Restaurant, including the Product , Price, Place, and Promotions. The Restaurant marketing mix framework is critical in optimizing the restaurant business model because, without effective marketing mix strategies, a brand cannot achieve the desired marketing goals nor convert the marketing ideas into a winning marketing plan .

The goal business objectives of a specific Restaurant marketing strategy is to boost the Restaurant’s brand identity , brand visibility , and brand image so that ratings go up and customers choose that brand over other brands in the restaurant industry.

Restaurant’s marketing strategies often depend on their marketing budget as the budget will decide how many and which one of the marketing channels the brand can use.

Marketing mix elements focus on marketing channels like digital advertising , local publications, social media accounts, loyalty programs, email marketing, traditional advertising, direct mail, influencer marketing, online reviews, and marketing campaigns to create a winning marketing strategy and mission statement that will target old and new customers, identify ideal customer for its Restaurant, boost guest loyalty and ensure repeat business in the target market .

Table of Contents

Restaurants Product Strategy

Restaurant Marketing Strategy

The restaurant marketing strategy and marketing mix framework ensure that the brand has a strong product strategy that will ensure customer satisfaction and loyalty and help bring repeat business.

The product in the restaurant marketing mix and the inbound marketing and strategy refer to the different menu items on the list, and the services refer to the ones provided in the Restaurant, like dine-in, and outside the Restaurant, like home delivery.

A successful restaurant marketing strategy for the product element of the marketing mix is one where the loyal customers will love to eat from a specific restaurant brand; the menu items on the menu list must have something or other that will please the entire target audience. Promotional campaigns will bring in new customers who want to taste the food offerings.

The restaurant marketing plan must offer free meals, discounted menu items, or a free appetizer to bring the customers to their Restaurant.

The new Product Mix of restaurants in 2023 is as follows ( Source ).

  • Food Items : This is the core of any restaurant’s product mix. It usually includes a range of appetizers, main courses, desserts, and side dishes. Depending on the Restaurant’s theme, these could range from local cuisine to international dishes.
  • Beverages : Beverages can include a variety of non-alcoholic drinks (such as soft drinks, juices, coffee, and tea) and, in many cases, alcoholic options (like beer, wine, and cocktails).
  • Special Menus : Many restaurants offer special menus to cater to various dietary requirements or preferences, such as vegetarian, vegan, gluten-free, organic, or children’s menus.
  • Seasonal and Limited-Time Offers : To keep the menu fresh and exciting, restaurants often introduce seasonal items or limited-time offers that capitalize on certain times of the year or special events.
  • Takeaway and Delivery Options : Especially important in the current market, many restaurants have robust takeaway or delivery services, sometimes using third-party platforms to reach a broader customer base .
  • Catering Services : Some restaurants also offer catering services for weddings, corporate gatherings, and parties.
  • Merchandise : Some restaurants, particularly those with a strong brand identity, may sell merchandise like branded clothing, sauces, spices, or cookbooks.
  • Ambiance and Experience : While not a physical product, the ambiance, and overall dining experience are critical components of a restaurant’s offering. This includes the decor, music, lighting, and customer service .
  • Membership or Loyalty Programs : To encourage repeat business, some restaurants offer loyalty programs or memberships with discounts, free items, or exclusive access to new dishes or events.
  • Special Events and Activities : Some restaurants host special events like live music, cooking classes, wine-tasting sessions, or themed nights to attract customers.

Restaurant Place Strategy

The place is a vital restaurant marketing mix element for a restaurant brand as it is from here that the product offerings will be cooked and served to the customers. A restaurant business will survive and grow when just the food, decor, and ambiance are to the liking of your target audience.

If the operator has a local restaurant, he must distribute complimentary appetizers or some of the food items at local events. The excellent taste of the food offerings will bring customers to the Restaurant.

Here’s the place strategy of restaurants.

  • Location Selection : Restaurants often choose locations based on visibility, accessibility, and the demographic profile of the surrounding area. Prime spots include high foot traffic areas, shopping districts, and neighborhoods that align with the target market ’s lifestyle and income.
  • Ambiance and Layout : A restaurant’s physical layout and ambiance are crucial in attracting and retaining customers. This includes thoughtful interior design, comfortable seating arrangements, appropriate lighting, and sometimes an outdoor dining area to enhance the dining experience.
  • Multi-Channel Presence : To expand their reach, many restaurants establish a presence on multiple channels, including online delivery platforms, social media, and websites. This multi-channel approach allows them to cater to in-person diners and customers who prefer eating at home.
  • Partnerships and Collaborations : Restaurants often form strategic alliances with local businesses, event organizers, or food delivery services. These collaborations can increase visibility, drive traffic, and enhance the brand image.
  • Adaptability and Diversification : Flexibility in adapting to local tastes, trends, and market demands is critical. This can include offering menu items that cater to regional preferences, hosting local events, or providing services like private dining rooms or catering for local events and businesses.

Restaurant Pricing Strategy

An ideal customer will order regularly from the Restaurant, ensuring repeated sales and revenues, but only if he finds the prices to his liking.

The Restaurant’s marketing and promotional strategy must align its product offerings with the pricing strategy to create an ideal customer base. The items on the menu must be priced right because both high and low costs can prove detrimental to their business.

Here’s the pricing strategy of Restaurants.

  • Value-Based Pricing : At the heart of a successful restaurant’s pricing strategy is understanding the perceived value of their offerings to their customers. This approach involves setting prices not just based on costs or market standards but also on the overall dining experience, quality of food, and service excellence . Upscale restaurants, for instance, often charge premium prices that reflect their high-end ambiance and exceptional service.
  • Competitive Pricing Analysis : Keeping a close eye on competitors is crucial. Restaurants must often adjust their prices in line with similar establishments in the area while maintaining a unique value proposition . This balancing act ensures they remain competitive without entering a price war that could erode profit margins.
  • Cost-Plus Pricing : This straightforward approach involves calculating the cost of preparing each dish and adding a consistent markup to ensure profitability. It’s a simple yet effective strategy, beneficial for new restaurants or those in highly competitive markets where cost control is critical.
  • Psychological Pricing : Restaurants frequently use psychological pricing strategies , like pricing dishes at $14.99 instead of $15.00, to make prices seem lower than they are. This tactic plays into customer psychology, potentially increasing the perceived affordability of the meals.
  • Dynamic Pricing : Some innovative restaurants adopt dynamic pricing models where prices vary based on demand, time of day, or specific days of the week. For instance, offering discounted prices during off-peak hours or days can help manage customer flow and maximize revenue.
  • Menu Engineering : This involves analyzing the profitability and popularity of menu items and adjusting the menu layout and pricing accordingly. High-profit but less popular dishes can be highlighted or placed in prime spots on the menu to boost sales, while low-profit items may see a price increase or be removed.
  • Tiered Pricing : Offering dishes at various price points can cater to a broader range of customers. This could mean having a range of appetizers, entrees, and desserts at different price levels, ensuring something for everyone, from budget-conscious diners to those looking to splurge.

Restaurant Promotion Strategy

Promotional Strategy

The restaurant marketing strategy must focus on marketing channels, especially traditional advertising, digital advertising, social media marketing, direct mail marketing campaigns, online ordering, reviews, content marketing, social media accounts, influencer marketing, and loyalty programs to target different customer segments .

The Restaurant’s marketing mix and strategies use the following marketing channels and promotional tools to target customers and their ideal customers in the restaurant industry.

Traditional Advertising in the Restaurant Marketing Mix

One of the most popular marketing channels used in the Restaurant’s marketing strategy is traditional advertising, which has a far wider reach. Television, radio, newsletters, flyers, magazines, newspapers, hoardings, and billboards have been used to enhance the brand identity for a long time.

Online Reviews in the Restaurant Marketing Strategy

This is the age of social media and the internet, where online reviews matter a lot. A new customer will review the online reviews to learn more about the Restaurant’s offerings. The customer will try the offerings if the Restaurant has many positive reviews compared to negative reviews and an average price. In some cases, customers post negative reviews if the food items or delivery service is not to their liking. Then, in such cases, customers generally avoid these restaurant offerings.

Email Marketing in the Restaurant Marketing Mix

An effective promotional material adopted in the restaurant marketing mix is email marketing. It is a low-cost winning marketing strategy that never goes wrong. Email marketing is the best option for people looking for effective restaurant marketing strategies and communications on a limited budget.

Email marketing has proved to be one of the valuable restaurant marketing ideas to target potential customers and add more customers to its customer base. Email marketing might not get the response that direct mail campaigns or geo-targeted online ads often receive. However, it is still an effective online marketing tool in the restaurant industry that can attract customers and provide high ROI because of low cost.

Restaurants should use automated and personalized email marketing, like birthday and anniversary reminders, to better impact the target audience.

Search Engine Optimization in the Restaurant Marketing Strategy

Search engine optimization is another critical promotional material in the restaurant marketing mix. Restaurants can hire SEO experts to explain how user-generated content and search engine optimization can prove one of the best marketing efforts for a restaurant owner in targeting potential customers.

Local businesses can use local search optimization by registering their website in local publications and promoting their business at local events to attract customers through local search optimization and boost the brand image of the local Restaurant.

Restaurants can claim their business page in the local publications and directories and display menu items, location, phone number, mobile apps, and other relevant information. Social media interaction, content marketing, good design of the company website, social media integration, and inbound marketing are winning marketing ideas and marketing channels often used by restaurants for the promotional mix .

Direct Mail Campaign in the Restaurant Marketing Mix

A compelling marketing mix will focus on direct mail campaigns besides traditional advertising and digital marketing as a winning marketing strategy on a limited budget to attract customers, boost guest loyalty, and enhance the Restaurant’s brand identity.

Restaurants have been using the direct mail marketing campaign as a part of the restaurant marketing plan and marketing communications for a long time by sending letters, brochures, or postcards that talk about special offers and discounts for targeting potential customers and local businesses in their areas.

The restaurant owner can also integrate direct mail campaigns with online marketing by including the website address and link as a marketing strategy.

Mobile or SMS Marketing in the Restaurant Marketing Mix

If you are looking for cost-effective restaurant marketing ideas on a limited budget to attract new customers in the target market, then opt for SMS marketing. Text messages or SMS marketing have proved more effective than direct mail or email marketing but not as effective as marketing online traffic or through social media accounts because mobile devices are an integral part of human lives, and people are quicker to check SMS than any other online marketing tools .

Social Media Marketing in the Restaurant’s Marketing Strategy

Social media marketing through platforms, mobile apps, and social media accounts has proved its worth in today’s market for targeting existing and potential customers and creating an ideal customer base.

Social media accounts and platforms like Facebook business page, Instagram , Twitter , and YouTube are being used as the brand voice to engage with loyal customers and provide relevant information to existing and new customers in the target market. Repeat business is significant for any restaurant, which the restaurant marketing plan hopes to achieve through its social media marketing efforts.

Loyalty Program in the Restaurant Marketing Mix

The promise of a reward through the restaurant loyalty program has helped many restaurants to grow from strength to strength in these competitive times. A restaurant’s marketing strategy must include a loyalty program while creating the marketing plan, as it will ensure a solid customer base loyal to the brand.

Loyalty programs often include special offers, discounts on specific items, free deliveries, etc. An essential aspect of a loyalty program is that it allows restaurants to collect customer data that can be further used in promotional activities via direct mail or email.

PPC or Pay-Per-Click Ads in the Restaurant Marketing Mix

This is the era of digital marketing where PPC Ads, Google Ads, Instagram Ads, and Geo-targeted online ads are considered the most cost-effective marketing mix strategies to target specific target customers. PPC advertising helps in retargeting, analytics, and tracking to get accurate customer data and information about the target market and what the target audience is responding to.

Google Ads / Facebook Ads / Instagram Ads

Using Google Ads / Facebook Ads / Instagram Ads is one of the most cost-effective marketing mix strategies to achieve marketing and business goals in the restaurant industry. The platform allows restaurants to advertise on search results to target the ideal customers.

Influencer Marketing in the Restaurant Marketing Mix

Restaurants must use influencer marketing strategies to promote their brand in the industry. Influencers have their own social media accounts and many followers, and they can get maximum customer engagement with the help of social media stories and reels.

Invite a prominent Influencer to your Restaurant and give them an accessible dining experience. In exchange, they will post positively on their social media accounts. This will boost the Restaurant’s brand ratings and ensure new customers.

Sales Promotion Marketing Campaigns in the Restaurant Marketing Mix

Create a targeted sales promotions plan to help achieve desired marketing goals in the target market. Sales promotional activities like discounts, coupons, sales, gifts, vouchers, and other incentives are some of the most effective ways to attract customers, boost customer loyalty , and increase the consumer base.

Some Recent Video ads and Print ads for Restaurants are:

Liked this post? Check out the complete series on Marketing Mix

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About Hitesh Bhasin

Hitesh Bhasin is the CEO of Marketing91 and has over a decade of experience in the marketing field. He is an accomplished author of thousands of insightful articles, including in-depth analyses of brands and companies. Holding an MBA in Marketing, Hitesh manages several offline ventures, where he applies all the concepts of Marketing that he writes about.

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Business Plan on the basis of 4ps

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We are launching a new product in the market branded as Crispy Flakes. This CHIPS-based product, which will have two flavors Salted and Garlic Maya that will enable people to kill their hunger almost at any time irrespective of ethnicity or age.

Related Papers

RBGN Revista Brasileira de Gestão de Negócios

Purpose – The objective of this paper was to explore which branding strategy (brand extension versus new brand) is most convenient for healthy products, by taking into account the effect that the perceived fit between the nutritional attributes of the regular products of the parent brand and the healthy extensions have on the credibility of the latter. Design/methodology/approach – The required information was obtained through personal interviews with 107 consumers resident in the metropolitan area of Mexico City. The type of study was exploratory-descriptive and focused on the manufactured snacks that are sold in Mexico. Findings – Reformulations of traditional snacks that are commercialized under the name of the parent brand have low credibility with respect to their nutritional value due to the high association between non-healthy attributes and the image of the parent brand. The snacks categorized as healthy are products with well differentiated ingredients but with low brand familiarity. Originality/value – The branding of healthy brands is an incipient area of research in marketing, and thus this paper contributes to the theoretical development of strategies for the commercialization of these brands.

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  1. The 4 P's of Marketing (With 3 Examples To Review)

    The four P's of marketing are product, price, place and promotion. The foundation of the four P's is the "product," which is when a marketing professional defines the product's purpose. It's common for the four P's of marketing to intersect with one another, as there may be shared attributes within each element. Related jobs on Indeed Marketer jobs

  2. The 4 Ps of Marketing: A Step-by-Step Guide (With Examples)

    The 4 Ps of marketing—product, price, place, and promotion—is a concept that summarizes the four basic pillars of any marketing strategy. By focusing on these four pillars, you can improve your marketing strategy to ensure that you're effectively covering all of your bases.

  3. 4 P's of Marketing Mix (Updated with Example and Template)

    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.

  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. The four 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.

  6. The 4 Ps Of Marketing

    Show more. The four Ps of marketing—product, price, place and promotion—serve as a framework for marketing success. Sometimes referred to as the marketing mix, the four Ps help guide ...

  7. 4 Ps of Marketing: What They Are & How to Use Them Successfully

    The 4 Ps of marketing are product, price, place, and promotion. Often referred to as a marketing mix, they provide a framework that companies can use to successfully market a product or service to...

  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. 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.

  10. 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.

  11. 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 ...

  12. 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 ...

  13. 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.

  14. 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.

  15. 4 P's of marketing: How to achieve the perfect marketing mix

    The 4 P's of marketing are price, promotion, place, and product—the four key factors every marketer should use to guide their campaign strategy. Our guide covers the 4 P's of marketing and gives a breakdown of each step involved. Product, price, place, and promotion. According to the marketing mix theory, these 4 P's are the building ...

  16. 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.

  17. 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

  18. 4Ps Marketing Mix Analysis Template with Examples

    Let us take an example of the Coca-Cola Company to understand its 4Ps marketing mix. Product. Coca-Cola offers various products : Coca-Cola, Fanta, Sprite, Coke Zero, and Diet Coke, among many other drinks. The products are packaged in different sizes with consistent branding.

  19. The 4 P of Marketing: Explained (with Examples)

    Her plan reflects her business's greatest strengths and weaknesses. She is promoting herself both online and offline - via email campaigns, social media ads etc.) ... First example of 4Ps Second example of 4Ps: Product: Business Services: Direct to Customer Product: Price: $10/month: $60+ Place: Online only: Online Only: Promotion:

  20. McDonald's Marketing Mix (4P) Analysis

    McCafé Among the 4Ps, products are a fundamental determinant of McDonald's brand and corporate image. The company is primarily known for its burgers and fries. However, the business gradually expands its product mix. At present, customers can purchase other products, like chicken and fish, desserts, and breakfast meals.

  21. 4Ps of Marketing

    #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

  22. Restaurant Marketing Mix and 4Ps (Updated 2023)

    The Marketing mix of Restaurant analyses the 4Ps of Restaurant, including the Product, Price, Place, and Promotions.The Restaurant marketing mix framework is critical in optimizing the restaurant business model because, without effective marketing mix strategies, a brand cannot achieve the desired marketing goals nor convert the marketing ideas into a winning marketing plan.

  23. (DOC) Business Plan on the basis of 4ps

    The major marketing objective is to achieve first year sales of more than2 million units. The primary financial objective is to accomplish first year sales revenue of Rs. 50 million, and reach break-even in the arrival of the Second year. Business Mission: We are focusing on convenient food and provide opportunities for growth and enrichment.