The 4 Ps of marketing concept: A comprehensive guide

Imagine launching your product with every detail perfected, top-notch quality, and eye-catching packaging. But when it hits shelves, sales fall flat. What went wrong? 

In this competitive marketing world, success often depends on a great product and a perfect strategy, known as the 4 Ps of marketing.    

These 4 Ps marketing tactics can work together to ensure that a brand not only captures attention but meets the needs and wants of its audience.    

Get ready to uncover the potential strategy behind every successful product and see how these time-tested pillars can improve your marketing. 

Let’s explore the definition to explain the 4 Ps of marketing through examples in this blog.         

What are the 4 Ps of marketing mix?

The 4 Ps of marketing are the four core elements (product, price, promotion, and place) that give a basis to any products/services by knowing all the aspects required to get better sales. The four main pillars are: 

1. Product 

The main product is marketing goods or services to the target audience. Most successful products are marketed based on personalization, with powerful CRM features like sequences.  

It helps in the creation of personalized email and SMS campaigns to promote the products in a better way. Besides, you can provide product customization to different customer segmentations as per their need in the future.   

2. Price  

Price is the cost of the product/service. 

While initiating the marketing of a product or service, it is crucial to finalize a price that is accessible to the market and tends to meet a business goal.   

However, the pricing strategies can be fixed based on sales forecasting to help you predict your company's performance based on future sales.  

3. Promotion  

Promotion is how you tend to advertise the product/service. 

Did you know people have two times more interactions with brands on mobile than everywhere else? Promotion involves the strategies and activities used to inform and engage customers about a product or service. 

Effective promotion strategies include influencer marketing, follow-ups, and other key factors to grab the end-users' attention toward your product/services.    

4. Place 

The place is where you sell your product and where you can use the distribution channels to get it to your customers. 

Multiple distribution marketing channels can be integrated to make the products easily available to the customers, and better sales strategies can be developed.  

These 4 Ps of marketing strategy can form a framework to effectively market any product or service in the business. 

Interesting read: Develop a Solid Marketing Automation Strategy for Your Business

History of 4 Ps of marketing strategy 

Professor E. Jerome McCarthy introduced the 4 Ps of marketing mix in 1960 in his book Basic Marketing. 

Also, Mr. McCarthy primarily aims to create a simple marketing framework to help businesses plan and execute their different strategies for a successful marketing journey.     

The concept was built on earlier research by Neil Borden, who introduced the term "marketing mix" in 1949 to describe the various elements businesses can use to influence customer demand.   

McCarthy refined Borden’s broader concept into a small and understandable formation of the 4 Ps of the marketing mix. This marketing mix concept focused on aligning product-related strategies with the traditional marketing strategies that dominated the market then.    

Since then, the 4 Ps of marketing mix have been widely adopted and taught as a fundamental model for marketing, helping businesses consider the essential aspects of successfully introducing a product or service to the market.   

In the 1980s, as service industries grew and customer experience became more saturated, the 4 Ps were expanded to the 7 Ps (adding People, Process, and Physical Evidence) to better address the nuances of service marketing.    

Today, the 4 Ps of marketing remain relevant but are often adapted to fit modern CRM in marketing strategy and evolving customer focused marketing approaches.  

Why are the 4 Ps of marketing important? 

The 4 Ps of marketing are crucial because they provide a framework for helping businesses develop different methodologies for attracting, engaging, and retaining customers through products/services.

93% of millennials use cell phones to shop for products. That is why having a perfect marketing plan and sales plan are crucial to attracting them through online or offline marketing methods:  

1) Product: Aligning with customer needs 

The product focuses on creating goods or services that meet the needs and preferences of the target customer.   

A well-defined product strategy helps businesses understand what they’re offering, who they benefit from, and how they stand out from competitors, which results in attracting an appropriate audience.        

2)  Price: Balancing value and profitability 

Price is not only about setting the perfect cost but also about determining a price point that reflects the product’s value, appeals to the target audience, and ensures a profitable business.   

A good pricing strategy can attract different customer segments, support brands in different ways, and help in giving better product quality.         

3) Place: Ensuring accessibility and convenience 

Place involves deciding where and how the product with different uses will be available to customers.  

Its various aspects include the distribution channels, logistics, and location, whether physical (e.g., retail stores) or digital marketing (e.g., e-commerce websites like Amazon).

4) Promotion: Awareness and engagement 

Promotion can cover all the activities that communicate the different ways of product usage that can enhance the target audience's life.   

Promotion can be done in multiple ways, including advertising, public relations, social media marketing, or direct marketing.   

It results in a practical promotion that helps build brand awareness, create interest, and attract potential audiences to purchase the product/service.       

How to use the 4 Ps of marketing strategy?

The usage explains the 4 Ps of marketing mix that can help in giving a better marketing plan for every product/service: 

1. Product   

Using the product aspect means focusing on creating a product or service that meets the target audience's needs, solves their problems, and stands out in market research.   

Questions to ask for better implementation   

• What specific customer needs or problems does our product address?   
• Which features or benefits make our product different from competitors?   
• What is the unique selling proposition (USP) of our product/service?   
• How will we maintain product quality, and what are different ways to improve it over time?   
• What packaging, design, or branding methods should attract our target audience?       

2. Price    

The Price element involves setting a price that reflects the product's value, aligns better with customer expectations, and ensures profitable business.    

Pricing also impacts the brand overall, so it should be set with consideration of both the target audience and competitors.   

Questions to ask for better implementation   

• What price range will our target customers consider reasonable for this product/service?   
• How does our pricing compare to competitor’s similar products?   
• What pricing strategy suits end-goals (e.g., penetration or competitive pricing)?   
• Will we offer discounts, payment plans, or subscription options?   
• How does our pricing influence the product’s value in the future?   

3. Promotion   

Promotion mainly covers the various activities to communicate the product's value and attract and engage the customers.   

Questions to ask for better implementation   

• Who is our target audience, and where do they spend their time (e.g., social media, in-store)? 
• What message do we want to convey about our product? 
• What are the best channels (e.g., social media, email marketing, ads) to reach our audience? 
• How can we use digital tools, like SEO or influencer marketing, to boost visibility? 
• What are the sales KPIs to measure success in our promotional efforts?      

4. Place  

Place ensures the product is accessible to customers through the right distribution channels, such as Amazon, offline retail stores, and more.   

It involves giving customers a choice to find and purchase the product instantly.  

Questions to ask for better implementation   

• Where does our target audience prefer to shop online marketing, in stores, or both?   
• Which distribution channels are most effective for our product?   
• How can we optimize the supply costs to ensure product availability?   
• What logistics challenges might you face while reaching customers?   

4 Ps of marketing examples 

The prominent examples of the 4 Ps in marketing implementation across different industries are: 

1) Public health campaign 

• Product: The 4Ps of social marketing can be effectively applied to health education campaigns to raise awareness about the importance of handwashing in preventing the spread of diseases.   
• Price: This is free public service messaging, but there may be a perceived "cost" in the effort and time needed to follow health guidelines.   
• Place: Hospitals, schools, public restrooms, and social media advertising platforms.   
• Promotion: Posters, TV ads, social media marketing campaigns, and influencers advocating for handwashing habits.   

Example: The CDC’s “Clean Hands Save Lives” campaign uses posters, social media analytics, and community outreach to encourage healthy living.      

2) Professional sports team 

• Product: The 4Ps of sports marketing include tickets, team merchandise, and fan experiences associated with the sports team.   
• Price: Based on seating location, game type (playoff vs. regular season), and premium packages.   
• Place: Stadiums, official team website, mobile app, and retail outlets.   
• Promotion: Digital ads, email marketing, newsletters, social media posts, fan engagement events, and promotions with local businesses.      

Example: The NBA is the best example of the 4Ps of marketing: promoting games through social media, offering exclusive content and merchandise deals, and selling tickets on its website and app.      

3) Education marketing 

• Product: Online courses in various subjects, often with certification.   
• Price: Pricing models can vary from subscription-based, pay-per-course, or free courses with paid certificates.   
• Place: The platform’s website, mobile app, and partner education sites.   
• Promotion: Paid digital ads, university partnerships, influencer endorsements, and content marketing success via blog articles and YouTube tutorials.   

Example: Coursera promotes its courses through email newsletters, university partnerships, and discounts for new users.    

Wrapping up! 

Bringing it all together: Your 4 Ps action plan   

As we wrap up, think of the 4 Ps of marketing efforts as your toolkit, a mix of marketing strategy, and creativity that shapes how your brand meets, serves, and grows with your customers.    

The power of 4 Ps of marketing: Product, Price, Place, and Promotional efforts isn’t just knowing them but constantly adapting each element to stay relevant and resonate with your audience.   

So, here’s a challenge: Take a fresh look at each 'P' in your business and identify one new idea for each element: a product enhancement, a pricing model, a new distribution channel, or a bold promotional strategy.   

Additionally, with Salesmate, you can get help with marketing automation, get a fresh outlook on all four Ps of marketing, and set a perfect business plan.