The 4 P's of Marketing
By: Barrett Cameron
The importance of the 4 p's
The p's are very important in marketing and advertising. Most business classes that you take if you take them will emphasize how important they are. The 4 p's are: Product, Place, Price, Promotion. These things all need to be done well or else they will not do good. Having one good p by itself will not work they all have to work together.
This is what you are selling. It is also the variety, quality, design, brand, and package. These things are all very important and necessary. The things are valued highly by the consumer.
You may think that the price you charge your customer is the only price. There are other things that go along with it. It also Includes: Retail, Discount, Bonuses, Payment Plans, and Credit Terms, meaning anything remotely related to money.
This includes: Advertising, Personal Selling, Sales Promotion, Public Relations, sponsorship, sales calls, Brochures, and emails. As you can see there are very many different ways of promoting your product. This is ones of the most important of the p's because it is how you will get your product out there,
Place is also known as distribution or how your clients find your product. Some other parts of it are delivery, retail locations, downloads, and logistics. You need to think about how your product gets places, how long it takes, and how many of them. Everything that requires you product going somewhere is place.