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Understanding the 4 Ps of Marketing: An overview with examples

Posted By Gaurav | 13-Feb-2024 | Content Marketing
If you are a marketing professional trying to build up your future in marketing, this is the perfect stop for you to learn the much-needed four Ps of marketing.
4-ps-of-marketing

For every marketer who is starting out on devising a marketing strategy, the best way is to focus on the 4 Ps of marketing. These 4 ps of the marketing mix will help you set a clear goal, and have a clear understanding of your campaign and what results you can achieve. 

Let’s get started with the basics of marketing and help you devise a marketing strategy. 

4 Ps Of Marketing

As mentioned before, while creating a marketing campaign or strategy, every marketer is to focus on 4ps of marketing mix which will help you devise a successful marketing strategy. Here is a brief of the 4Ps. 

4ps of marketing

  • Product

Have a thorough knowledge of your product since this is what you are selling. Understanding from the user’s perspective is your product worth buying and what problems is it solving for the user. 

Figure out the USPs of your product, and leverage those points in the later stage. Identify the features of your product, be it a physical product, a service or a consultation. 

  • Price

Pay attention to the pricing strategy for the product that you are selling. Carry out a competitive analysis of the prices being offered by the competition in the market and how justified the pricing is. 

Next step is to analyze and devise your own pricing strategy that is suitable as per your target market. Additionally, look for any discount offers, a discounted price, and credit policy for the convenience of the users. 

The most important factor that you need to consider while devising your pricing strategy is how the price is going to affect your brand’s image to the users. 

  • Place

This helps you identify the location, platform or place where you wish to run these marketing campaigns. This place can be either offline or online as per your convenience and your target audience. 

The place in the 4 P of business matters the most as it is the direct link to your users and this needs to change as per your target audience. Furthermore, 4 ps of marketing example for place includes: Running a marketing campaign on TikTok or Instagram for target audience based on these platforms, but running a campaign or a product that is developed for a senior age group won’t be successful on these platforms. 

Hence, it is extremely important to pick the place with utmost care and understand the value of this. 

  • Promotion 

The 4 Ps strategy includes Promotion as the last pillar. This defines how you are going to promote your product, what channels are you going to leverage and how is your audience going to learn about your product. 

Here communication is the most important factor as it helps to build a clear bond with the user and communicate about the product, services and offers in a clear manner. 

4 Ps of Marketing Example

The 4ps of marketing mix that we have discussed above are the pillars of marketing that helps you devise a robust and effective marketing strategy. From the above-discussed point one conclusion that can be drawn is that these 4 ps of marketing are interconnected and can have a huge impact on your business. 

Here are some examples of 4 ps of marketing mix. 

Product

  • For a brand their  product is the services that they are offering in the market. This could be in the physical form of a product, a consultation service or any other. 

  • Their USP which is going to help the user differentiate them from their competition is going to be their selling point.  

  • Additional features that the brand is offering is going to be a cherry on the top for the user. 

  • The main objective of the product to solve the users problem should be justified and clear. 

Price

  • The price that the brand will offer should be decided based on a thorough competitor analysis.  

  • While investing in your product the user should feel the worth of investing in your product from the price point as well. 

  • The price that you are offering should be kept in a way to offer certain discount offers to the user to attract and grab their attention. 

Place

  • Since social media is popular and the majority of the audience is available there, running campaigns on these platforms will help you. 

  • The physical location of your brand also matters in case it is a walk-in store only. 

  • Social media also needs to be monitored for target audience filtering. 

Promotion

  • The strategies that you are going to use for promoting your product impacts the campaign. 

  • For an online business you can use Google sponsored ads or other paid media campaigns

  • For an offline campaign you can use certain gamification or engaging activities to attract the audience and grab their attention. 

Two Cents from MadHawks

Being a digital marketing agency MadHawks has been working with these 4Ps of marketing closely and have implemented these in all the marketing campaigns created. Hence, from first-hand experience we can say this- 4 Ps of Marketing Mix are necessary to drive the marketing campaigns. 

Furthermore, there are several other factors that can help you with the process of marketing such as your website, the products, and SEO of your brand which will get you better ranking, and visibility in the search results. 

For SEO services along with the 4 Ps of Marketing get in touch with the experienced and expert team of MadHawks and let us untangle your marketing for you. 

FAQ

What are the 4p's in marketing?

The 4ps of marketing are- product, price, place, and promotion. These are also regarded as the pillars of marketing which helps you drive the marketing campaigns. 

What is the difference between 4Ps and 7Ps of marketing mix?

7ps of marketing mix is an extension of 4ps of marketing mix which further consists of- people, process, and physical evidence. 

Why are the 4 P's of marketing important?

4 Ps of marketing are important as it helps you to devise a strong marketing strategy and identify the most essential elements of the marketing mix. 

How Do You Use the 4 Ps of Marketing strategy in your business?

Using 4ps of marketing strategy in your business requires you to- identify the product and its USPs which would help to sell it. Decide a Price that is attractive to users and justified as per the product. Next choose the Place where the physical store or the marketing campaign is being launched, be it online or offline. Lastly look for Promotion approach that will help the users to connect and communicate with the brand. 

 

Read Blog - Mobile Marketing: A Key Element In Digital Marketing Services

Gaurav Yadav
SEO expert

Gaurav Yadav is a skilled SEO expert with over 8 years of experience in digital marketing. He specializes in technical SEO, content strategy, and link building, and has a proven track record of driving organic traffic growth for a diverse range of clients. With his expertise in various verticals, he can execute industry-specific SEO strategies for SAAS, BFSI, healthcare, lifestyle, and education.