What are the 4 p's of marketing?

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The 4 Ps of marketing — you’ve probably heard about them from a friend, a textbook, or even at school.

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I know it sounds like a boring topic that’s common sense, but there is more to lớn it than meets the eye.

And no, it’s not just for large companies. The smaller you are, the more important for you it is to leverage the 4 Ps of marketing.

So before we dive sầu into lớn it, let’s first break down what they are…

What Are The 4 Ps of Marketing?

The 4 Ps of kinh doanh is a sale is a concept that summarizes the four basic pillars of any sale strategy.

The four Ps of kinh doanh are:

Product: What you sell. Could be a physical good, services, consulting, etc. Price: How much bởi you charge & how does that impact how your customers view your brand? Place: Where vày you promote your hàng hóa or service? Where vày your ideal customers go lớn find information about your industry? Promotion: How do your customers find out about you? What strategies vị you use, & are they effective?

It sounds simple và it really is. The harder part is implementing the 4ps of sale, which we will get into lớn in the next sections.

The theory behind the 4 Ps of marketing is that covering all 4 Ps will result in higher sales. But, sadly nothing is quite that easy.


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The origin of the concept, also known as sale mix, goes back to lớn 1960 when McCarthy introduced it in his book Basic Marketing: A Managerial Approach.

I know that’s ages ago, but the 4 Ps/kinh doanh phối concept is just as valid today.

Let’s dive sầu into lớn the concepts and look at 4 Ps of marketing examples lớn understand how you can apply this khổng lồ your own company.

The First Phường of Marketing: Product

The product is what the company sells.

It might be a product like a soft drink in the beverage industry or dresses in a clothing store. Or these days it may even be software like Ubersuggest.

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It could also be services, such as consulting or a paid speaking gig or even a therapy session.

In short, the hàng hóa is everything that is made available to the consumer.

In the 4 Ps strategy, this means understanding what your offer needs in order lớn stand apart from competitors và win over customers.

In other words, what makes your sản phẩm so great or unique? Because if you don’t stvà out it’s going to lớn be hard lớn thrive sầu.

For example, you may know about my sản phẩm Ubersuggest, but you probably know about a handful of my competitors.

So what’s the big thing that makes my product stvà out from everyone else?

I don’t focus on features, I don’t have 100s of reports. Instead, I focus on usability. My goal is khổng lồ make Ubersuggest really easy to lớn use, especially if you are new lớn marketing.

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On the flip side, my competitors focus on ad agencies và really advanced marketers. I built something for a different target market, even though I am in a crowded market place.

How lớn Create an Amazing Product Your Customers Love

I want you to bởi something simple. Go to lớn Hotjar, signup for a không tính tiền account, và run a poll. Just like the one below.

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I’ve sầu been running polls for a while now, but if you are starting off I would ask open-ended questions like:

What’s the biggest problem I can help you solve? This will give sầu you an idea of what your hàng hóa needs to lớn vì. What’s your favorite marketing hàng hóa and why? You’ll want khổng lồ replace the word “marketing” with whatever industry you are in… this question gives you an idea about who your competition is và what they are doing right. Why did you come here today? This will tell you why people come to lớn your site & what they are looking for. How can we make our sản phẩm better? This is great if you already have a product up as you will get real feedbaông chồng. What don’t you like about COMPETITOR ABC? Replace competitor ABC with your competition’s name… this question tells you where there is an opportunity.

I want you to lớn pay special attention to the last question. It really helps you identify how you can differentiate yourself from the competition.

Now, before you go & build a product (or make yours better if you already have one), don’t invest too much time and money without getting feedbaông chồng.

For example, if I were lớn add a new feature khổng lồ Ubersuggest, I wouldn’t just build it. I would get it designed, show you first, get feedbaông chồng, & then adjust from there.

That way I won’t waste months’ worth of time building a sản phẩm you don’t want to use.

The Second Phường of Marketing: Price

Price is simple, it refers to how much you charge for your hàng hóa (or service).

Although it’s simple to lớn understvà, it’s really hard khổng lồ come up with the “right” price. The one that doesn’t just drive sầu the most amount of sales but also drives the most profit.

The real question is, how vày you want khổng lồ be perceived?

Amazon wants khổng lồ be the place where you can get the best-valued products from A to lớn Z. And of course, delivered fast.

My buddies’ company, Imperia Caviar offers high-kết thúc caviar at low prices. He’s able khổng lồ get the same caviar that big brands charge thousands of dollars.

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You would think having a cheap price is cheapening his brand, but instead, he is bringing transparency to lớn the market and educating people on how caviar isn’t really expensive… it’s actually just a kinh doanh ploy.

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I take a similar approach to Ubersuggest. I don’t think kinh doanh software & education should be expensive. So I give sầu a lot away for không tính phí or super cheap.

Do you think that has cheapened my brvà or hurt it? Well, let’s look at the data:

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I guess not.
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