Basic Marketing Concept-The 4Ps

June 19th, 2008 /

One of the most important concept in marketing is the marketing mix which comprises product, price, promotion and place and is popularly known as the 4Ps.

4 P’s	Marketing Mix
Product	The product management and product marketing aspects of marketing deal with the specifications of the actual goods or services and how it relates to the end-user’s needs and wants.
Pricing	The process of setting a price for a product including discount
Promotion	Refers to the various methods of promoting the product/service, brand or company which includes advertising, sales promotion, publicity and personal selling.
Placement	The locations for distribution, which explains how the products get to the customer