The 4 Ps Of Marketing And How To Bring It To The Next Level

If you work in marketing, you probably already know about the 4 Ps of marketing. The four Ps cover the basic elements of marketing a product, and the idea has been around for decades.  For those wondering what are the 4 Ps of marketing, they stand for Product, Price, Promotion and Place. All four of these elements must be considered if you are going to have success selling a good or service.  While the 4 Ps marketing mix is still important, any marketer working today probably sees that there is much more to it than that. Not only do we now have digital marketing, but many of the conventional ideas have changed a lot in this new century of marketing. In this post, we are going to cover the traditional 4 Ps of marketing and consider some of the ways they fit in the modern marketing landscape.


The product is an obvious part of the marketing mix. Without the product, there is no marketing. This is the good or service you are selling, and you need to answer several questions. What need are you filling? What makes your product unique? In what ways can you improve your product? In the old days, having a narrow range of products may have been enough, and you might not have needed to offer updates and improvements very often. For most modern brands, this has changed. Consumers like products that are part of a line, and they also want to see new updates and improved versions of the product released regularly. Today’s consumers also have higher expectations for what is offered with the product. They want things like stronger guarantees and return policies. They also want strong after-sales support and things like free or same-day shipping. Many customers also want products that have different upgrades or accessories that they can buy.


Price is more complicated than it may sound. There is more to it than just adding up the cost of producing and selling the product and then adding a mark-up to make a profit. In reality, there are several pricing strategies that can be relevant depending on your goals and the types of products you sell. As an example, going for the lowest price possible might be good if you are targeting economy shoppers, but a luxury product would sell for much more than just the basic costs and a small mark-up. In the case of the luxury product, the price you set helps to establish the value of the product in the minds of consumers. In the modern day, you might have to go beyond the conventional pricing methods. As an example, if your product is an app, you might need to consider whether you charge for the app or if it would be a better idea to go with a freemium, ad-supported or subscription-based revenue model. If you are selling products online, you can even run tests to find the pricing strategy that works best for you. You could split test different prices to different customers to see which pricing model works best for your business.


This is where you sell consumers on the idea that they need or should want your product. For this P, you need to consider a range of questions. Through which channels should you market your product? Is there a primary audience for your messaging? What types of messaging will you use to raise awareness and drive sales? Many decades ago, you only had so many options for promotion. Radio and TV ads were considered the height of marketing, but advertisers also considered things like print ads, billboards, flyers, brochures and other promotional materials.  Any of these traditional marketing methods could still be a part of your promotions, but the internet has changed the ways we promote products. For the modern marketer, things like social media marketing, search engine marketing and email campaigns are almost essential. If you are going to promote products today, you are going to need to know where your customers are and build a presence in that space.


Finally, the place is where you plan to sell the product. In the past, a business might open brick-and-mortar stores, distribute to other retail stores or sell through a catalog. With online shopping and ecommerce, you now have additional options for places to sell your products.  If you have a physical location or partners that sell your products from their stores, that is great. However, you do need to consider ecommerce. Online selling grows with every year. In many industries, it will get harder and harder to compete if you do not have options for shopping online. In the case of online shopping, you need to consider the place as well. Will you sell on your own website? Will you offer your products on a large ecommerce site like Amazon? There might even be benefits to having your own site and taking advantage of the platforms of large ecommerce giants. Beyond that, you might even want to consider building an app to offer a better shopping experience for mobile users.




Recent Articles

10 Tips to Improve ROI in Google Shopping Ads as Shared by Industry Experts

The year is 2021, and Google Shopping ads is a platform that has been the cornerstone to success for many companies, brands, and individual marketers alike! If you’re one of those campaign managers who dream of acing their Google Ads campaign for an improved ROI or just gain better exposure, we do understand your end of the hustle. However, truth

A Marketer’s Guide to iOS 14: Taktical’s Analysis of Problems and Solutions

When a giant like Apple makes moves, it affects everyone working in the digital space. For better or worse, ecommerce businesses and digital marketing agencies have to be aware of the decisions Apple makes and do what they can to adapt. Back in June of 2020, Apple released a preview of iOS 14. While most people were focused on the

10 Instagram Hacks You Should Know About Going Into 2021

With more than a billion users, Instagram has grown into a social media platform that marketers can’t ignore. Instagram marketing offers some of the best opportunities for building your brand, raising awareness and it is one of the best platforms for engaging with your customers. You probably already know about Influencer marketing and affiliate campaigns. Part of what makes Instagram

Your Step-By-Step Guide To Building a Powerful Growth Marketing Strategy

With nearly 70% of the world connected online, a robust growth marketing strategy is not just beneficial, it’s imperative. A well-rounded, data-driven approach is your ticket to standing out, making an impact, and driving continuous growth in an increasingly competitive landscape. A growth marketing strategy encompasses more than just a plan to increase revenue. It also requires you to understand

How to Use SEO in eCommerce to Drive Traffic and Boost Sales

To be successful in eCommerce, it’s not enough to have just an awesome product line. With the market growing exponentially, ensuring you can promote your online store amidst the digital crowd is crucial. The key cutting through all that noise? Visibility by leveraging SEO in eCommerce. Retailers need to be armed with a proactive and resilient SEO strategy that’s rooted

How to Build An eCommerce Landing Page That Converts

Your eCommerce landing page stands as a linchpin in converting casual browsers into committed buyers.  Unlike the other pages of your online store, eCommerce landing pages must be meticulously crafted to drive a singular action – whether that’s a purchase, a sign-up, or exploration of a new product range. Your eCommerce landing pages should provide a focused narrative to your

Have we gotten your attention yet?