Marketing and the 4 Ps

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Product, price, promotion, and placement

The 4 Ps of marketing are as follows.

Product: Price: Promotion: Placement.
The point of Marketing is to give the customer exactly what he or she wants and at a profit to you. That is the bottom line. Find a demand for a product, make a supply, and make a profit. Business gurus have divided this principle into the four Ps.

P number 1: Product! First, obviously, you need a product that there is a demand for in the economy, and that you can produce. There are all sorts of ways to find this type of information, principal among them, ask your perspective customers.

P number 2: Price. This product you plan to produce must make money, so it has to cost more then it does to manufacture, market, and distribute.

P number 3: Promotion. Get the public aware of this product you offer and make them want it. The more people know about it, the more people are likely to buy it.

P number 4: Placement. Can you get your product to your customer? Retail, Online, wholesale, whatever. You need to make sure it can get to your customer, and still make you money getting there.

This is a very basic template to model a marketing campaign. It may work well for sponges, deodorant, or printers, but it probably won’t go over very well for Carpet Cleaners, Concrete Resurfacing, or Background checks for potential corporate employees. But using these as a rough sketch, you should be able to formulate a good effective plan.

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Marketing and the Four P's