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What is Marketing Mix 4P
Marketing Mix 4P is a method for determining product strategy and product portfolio. Marketing Mix 4P consists of four components: Product, Price, Place, Promotion.

Marketing Mix 4P is a method for determining product strategy and product portfolio. Father of this thought was Neil H. Borden. It was based on the analogy withe a cake mix. He claimed that the starting powder is a suitable basis for baking a good cake. It can be modified to some extent (sugar, flavour…), but it is no good to overdo it (e.g. too much sugar).

E. Jerome McCarthy continued on Borden’s thoughts. McCarthy conceived the mix as we know it today. According to him, the marketing mix of the enterprise (or product) consists of four components:

  • Product - the product and its features from the customer perspective - quality, reliability, design, brand, warranty, service and other services, etc.
  • Price - the price of the product and total pricing policy
  • Place - the way of distribution the product from the manufacturer to the final customer (see Distribution channels)
  • Promotion - the ways of product promotion

Individual components of the marketing mix are also known as:

  • Product mix
  • Contract mix
  • Distribution mix
  • Communication mix

Marketing mix 4P is one of the keystones of the marketing strategy of the organization within the marketing and sales management.

Marketing mix 4P is the marketing mix in business perspective, the alternative is marketing mix 4C, that comes from the customer perspective.

Marketing Mix 4P-scheme MM

How to use 4P marketing mix in practice?

The 4P mix parameters are always set after STP (segmentation, targeting and positioning). It is strongly recommended to perform marketing mix 4C in parallel. The latest alternative is marketing mix 3V.

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Last update: 01.05.2019

Comments

Sara Johnson 11 months

Today there is no marketing without digital marketing. Digital marketing is the marketing of products or services using digital technologies, mainly on the Internet, but also including mobile phones, display advertising, and any other digital medium. There are many instruments in DM – PPC, Email-marketing, SMM, SEO etc.
SMM (Social Media Marketing) is a set of measures that are aimed at promoting a product or brand in social networks or using social platforms.
Pay-per-click (PPC), also known as cost per click (CPC), is an internet advertising model used to direct traffic to websites, in which an advertiser pays a publisher (typically a website owner or a network of websites) when the ad is clicked.
SEO - search engine optimization. It helps your website to get high rank on Google. SEO has become an integral part of every digital marketing plan. When you do SEO you need to know how to make On-page optimization and what is it. On-page optimization is a set of measures to change the site, aimed at increasing site traffic target customers from search engines on requests reflecting the desire of customers to purchase services and products promoted by the site.

About On-page optimization factors, you can read in this https://www.linksmanagement.com/onpage-guide-tutorial

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Understanding the Marketing Mix Concept – 4Ps. Marketing is simplistically defined as 'putting the right product in the right place, vetapprovedrx Coupon Code at the right price, at the right time. ... The marketing mix is most commonly executed through the 4 P's of marketing

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