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Marketing tip of the month

Nicola Proud
The 4 P's

March 2008

The 4 P’s are also known as the marketing mix and stand for Product, Price, Place and Promotion.  Some marketers also use Personnel and Packaging to create 6 P’s but the main four are widely used.  For a product or service to be successful you need to make sure the marketing mix is right and that each aspect of it is considered.  These things shouldn’t be set in stone though and must be regularly monitored and changed as required especially as the market changes.

Product – This is the actual physical product or service that you are selling to customers whether it is a product such as a car or a service such as a marketing consultancy.

Place – This is where the product can actually be purchased and also includes distribution channels.  It can mean the actual physical place where people buy things or over the internet. 

Price – This is the amount that the customer pays for the product and needs to be right for a customer to want to buy but also for a profit still to be made. 

Promotion- This covers all the different types of communication a company may use in the marketplace.  This includes – advertising, public relations, word of mouth and point of sale. 




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