What are the 4 P's of marketing?
Posted: Tue Jan 07, 2025 9:51 am
If you use them properly and find a balance between them, you can make your audience fall in love with your product or service. Here we will help you better understand how the 4 Ps work and show you the role each of them plays.
P for product
Every company needs to offer something to its clients or consumers . The focus of this particular pillar helps you identify, along with your product or service, all the features that will be offered.
To better understand the product or service you france phone data are selling to the market and to whom you are going to offer it, you first need to ask yourself some of the following questions:
What needs does your product or service satisfy?
How will the client use it?
When you have a vision of how and what your product is used for, it will be easier to choose the best strategies for the product and your brand.
Sell much more...
Article
What is a product strategy and why you need to have one
Image from: What is a product strategy and why you need to have one
P for price
This pillar is related to the amount that your customers will pay for your product or service . The importance of price is so great that it often becomes the first relevant differentiator for a consumer.
The information needed to set a price ranges from the costs of production, distribution, marketing, advertising and all expenses related to the product, but it is also necessary to know the market prices and the value of the product for consumers.
The value of products and services on the market is not always proportional to their production cost. We find products or services that at first glance might seem expensive or have high prices and the reason is that some are worth more to consumers, so they are willing to pay more for them and this is reflected in their price.
Try this free resource: Pricing Worksheet
P for plaza or point of sale
This pillar refers to the English word placement , which in Spanish translates as plaza or point of sale. It is understood as the placement of your product in the market .
That is, the ways in which people reach your products and services. Nowadays, we talk about both digital points of sale (online store, website with shopping cart , social networks or marketplaces , etc.) and physical ones (commercial premises, kiosk or island, department store, pop-up store, etc.). Some questions that can better define the place are the following.
P for product
Every company needs to offer something to its clients or consumers . The focus of this particular pillar helps you identify, along with your product or service, all the features that will be offered.
To better understand the product or service you france phone data are selling to the market and to whom you are going to offer it, you first need to ask yourself some of the following questions:
What needs does your product or service satisfy?
How will the client use it?
When you have a vision of how and what your product is used for, it will be easier to choose the best strategies for the product and your brand.
Sell much more...
Article
What is a product strategy and why you need to have one
Image from: What is a product strategy and why you need to have one
P for price
This pillar is related to the amount that your customers will pay for your product or service . The importance of price is so great that it often becomes the first relevant differentiator for a consumer.
The information needed to set a price ranges from the costs of production, distribution, marketing, advertising and all expenses related to the product, but it is also necessary to know the market prices and the value of the product for consumers.
The value of products and services on the market is not always proportional to their production cost. We find products or services that at first glance might seem expensive or have high prices and the reason is that some are worth more to consumers, so they are willing to pay more for them and this is reflected in their price.
Try this free resource: Pricing Worksheet
P for plaza or point of sale
This pillar refers to the English word placement , which in Spanish translates as plaza or point of sale. It is understood as the placement of your product in the market .
That is, the ways in which people reach your products and services. Nowadays, we talk about both digital points of sale (online store, website with shopping cart , social networks or marketplaces , etc.) and physical ones (commercial premises, kiosk or island, department store, pop-up store, etc.). Some questions that can better define the place are the following.