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The 4 P's of marketing help define the critical elements of the marketing mix. Each has an influence on the other. Together, they make up the business plan for a company and its go-to-market strategy. When executed properly, the 4 P's can strongly influence success, but when handled poorly, the business results will not be a success and a company could take years to recover. The marketing mix needs a lot of understanding, market research and consultation with others (inside and outside the company) to have the greatest impact.

The 4 P's of Marketing

The 4 P's of marketing help define the critical elements of the marketing mix. Each has an influence on the other. Together, they make up the business plan for a company and its go-to-market strategy. When executed properly, the 4 P's can strongly influence success, but when handled poorly, the business results will not be a success and a company could take years to recover. The marketing mix needs a lot of understanding, market research and consultation with others (inside and outside the company) to have the greatest impact.

The 4 P's of Marketing

Price

  • Definition of price (read me)
  • Strategy
  • Discount (quantity / wholesale)
  • Price discrimination
  • Bundle sales
  • Flexibility & elasticity ratio

Promotion

  • Definition of promotion (read me)
  • Strategy
  • Direct marketing
  • Advertising
  • Public relations (PR)
  • Budget
  • Sales promotion
  • Personal promotion

Place

  • Definition of place (read me)
  • Distribution channels
  • Ordering
  • Transportation
  • Stock / inventory (brick & mortar)
  • Warehousing
  • Online

Product

  • Definition of product (read me)
  • Function
  • Style
  • Brand
  • Accesories
  • Support
  • Quality
  • Packaging (physical or virtual)