Four Ps of Marketing

Good Essays
Topics: Marketing
The Four Ps Of Marketing

While the forms of marketing are almost as varied as the products themselves,there is evidence that there are some universal rules that are applicable to successful marketing in the retail and some service industries.Studies have found that some of the characteristics affecting consumer behavior that marketers must take into account,due to the influence on consumer purchases are product, pricing, positioning, and placement. What is known in marketing circles as the four p 's.

Product is the goods or service you create or obtain to sell to consumers that you can make a profit suppling to consumers.In order to grow or maintain continued profit,this product must be able to attract new customers.

Pricing is the actual fee you intend to charge for the product or service to your target consumer group for profit. When setting prices,always remember that profits are always affected by any discounts and or allowances you may coose to offer in the future,and be sure that you are setting profits within the legal limits of the law. Many great business plans have failed simply because no one took the time to consider the legal side of planning.

Positioning is positioning the product in your target consumer groups minds. A right positioning strategy has to be in place as a foundation,along with a product that follows through on a promise.A positioning strategy is always aimed at your target group.Some positioning options are as follows,you may position against a competitor,by claiming lower prices,or you may emphasize a distinctive benefit such as"twenty years in the same location". You may also affiliate yourself with somthing the customer values such as,"the only one recognized by the american business agency" or the like.

Placement is the advertising factor of a business ask yourself "how will you advertise"? Will it be television, print ads, or the internet? Most advertising media can be used to the advantage of a business, so



References: Craven, D.W. (2000), Strategic Marketing, 6th edn, McGraw-Hill Companies, Inc., New York. Dann, Susan J., Dann, Stephen (2004), Introduction to Marketing, John Wiley and Sons Australia, Singapore. Gabbott, Mark (2004), Introduction to Marketing: A value exchange approach, Pearson Education, Australia. Holloway, J. Christopher, Robinson, Chris (1995), Marketing for Tourism, 3rd edn, Longman, England. Johnson, Dawn (2000), Sales and Marketing in the Tourism Industry, 4th edn, McGraw-Hill, New South Wales. Middleton, Victor T. G. (1994), Marketing in Travel and Tourism, 2nd edn, Butterworth-Heinemann, England. Syratt, Gwenda (2003), Manual of Travel Agency Practice, 3rd edn, Elsevier Butterworth-Heinemann, Great Britain. Vincent Gabriel (2003), Management Third Edition, Pearson Education South Asia Singapore Pte Ltd, Singapore.

You May Also Find These Documents Helpful

  • Good Essays

    Four Ps of marketing

    • 495 Words
    • 2 Pages

    Product Ben Sherman is both product-oriented and market-oriented, the company produces a wide product range that appeals to all its target market segments. Products that have to offer are clothing for men, women and children, footwear and accessories. The range includes casual clothes, formal wear, denim, footwear and lifestyle accessories, such as underwear, watches, bags, belts and fragrances. A strong brand image ties the product range together. Ben Sherman uses major fashion shows to launch…

    • 495 Words
    • 2 Pages
    Good Essays
  • Powerful Essays

    The Four Ps of Creativity

    • 2255 Words
    • 10 Pages

    Significant Creative and Innovative Thinker in Terms of the Four Ps A concept labelled as the ‘Four Ps’ has been used to help understand the influential factors around creative beings and how these factors influence their final creative products. According to Mel Rhodes in his book An Analysis of Creativity (1961) these Four Ps; person, place, process and product are the underlying factors of creativity itself. By understanding how the 4 Ps work we are able to venturing into the life of a creative…

    • 2255 Words
    • 10 Pages
    Powerful Essays
  • Better Essays

    4 Ps marketing

    • 1066 Words
    • 5 Pages

    The 4 P’s of Marketing All marketing decisions ultimately reflect analysis regarding the four P’s of marketing, which are otherwise known as the marketing mix. The four P’s of marketing are product, price, place, and promotion. These factors are widely used by marketing managers to implement marketing decisions. Many in the field of business have questioned whether the four P’s have outlived their use and there is now need for an alternative. It has become clear that the marketing mix has become…

    • 1066 Words
    • 5 Pages
    Better Essays
  • Good Essays

    Marketing 4 Ps

    • 4605 Words
    • 19 Pages

    Bibliography:  MARKETING MANAGEMENT by Philip kotler  MARKETING MANAGEMENT by pondicherry university WEBSITES  www.google.com  www.scribd.com  www.wikepedia.co.in…

    • 4605 Words
    • 19 Pages
    Good Essays
  • Good Essays

    7 Ps of Marketing

    • 494 Words
    • 2 Pages

    MANGO SUITES What is a SUITE ? A suite in a hotel or other public accommodation denotes a class of luxury accommodations, the key feature of which is multiple rooms. Suites offer multiple rooms, with more space and furniture than a standard hotel room. In addition to one or more beds and bedroom fixtures, a suite includes a living room or sitting room, sometimes with a couch that converts into a bed. Dining, office and kitchen facilities are also added in many suites. Some properties offer only…

    • 494 Words
    • 2 Pages
    Good Essays
  • Good Essays

    7 Ps of Services Marketing Marketing services is different from marketing goods, and the marketing tools and practices developed for goods marketing are often not directly transferable to the marketing of services. There are several major differences, including: * The buyer purchases are intangible * The service may be based on the reputation of a single person * It's more difficult to compare the quality of similar services * The buyer cannot return the service 7 P's product…

    • 540 Words
    • 3 Pages
    Good Essays
  • Satisfactory Essays

    8 Ps of Marketing

    • 373 Words
    • 2 Pages

    Performance management (PM) includes activities which ensure that goals are consistently being met in an effective and efficient manner. Performance management can focus on the performance of an organization, a department, employee, or even the processes to build a product of service, as well as many other areas. PM is also known as a process by which organizations align their resources, systems and employees to strategic objectives and priorities.[1] Performance management as referenced on this…

    • 373 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    8 Ps of Service Marketing

    • 1414 Words
    • 6 Pages

    People and Services Marketing 'People ' as part of the marketing mix People are the most important element of any service or experience. Services tend to be produced and consumed at the same moment, and aspects of the customer experience are altered to meet the 'individual needs ' of the person consuming it. Most of us can think of a situation where the personal service offered by individuals has made or tainted a tour, vacation or restaurant meal. Remember, people buy from people that they like…

    • 1414 Words
    • 6 Pages
    Good Essays
  • Good Essays

    Four P's of Marketing

    • 324 Words
    • 2 Pages

    When dealing with the marketing mix, the four P’s of marketing include product, place, price, and promotion. The product is one of the most important items in the four P’s of marketing. This is what you are actually selling. It is important to know what the product will give the customer, and what the customer wants from it. Place is where the consumer will look for your product or service. If the product or service is in a store, it should be in an area related to the product. It could be in a specialist…

    • 324 Words
    • 2 Pages
    Good Essays
  • Best Essays

    The Importance of the 4 Ps in Marketing and the Successes of Major corporations BUSA 300 – Principles of Marketing University of Hawaii-West Oahu Abstract This paper describes the importance of the 4 Ps (product, price, promotion, place) in marketing and how they are each used in a large corporation perspective. This paper offers insight into what tactics are utilized to generate revenue and obtain a loyal consumer base. The Importance of the 4 Ps in Marketing and the Successes of Major…

    • 3814 Words
    • 16 Pages
    Best Essays