4 P's of Marking

In: Business and Management

Submitted By friar30
Words 1314
Pages 6
4 p's of marketing
The Four P's of Marketing
The four P's of marketing are:
Product is what you are selling. Not just the physical product or the actual service, but all the customer benefits and values that the product represents. It is usually not important to have the best possible product. Cutting edge and feature packed products cost more. The key is to have the most valuable product in its price range.
Price is the amount that the customer must pay. This is the acid test of whether the features you added to the product were really valuable, or whether you might have been better to cut a few low-value features out and so be able to offer a lower price.
Place is sometimes thought unimportant to online business. However, many deals still go best with a handshake. Services can only be cost-effectively provided within a fixed travel-radius. Shipping costs matter. Place is still a vital concern. With the internet, all online shops are on the super-highway and equidistant to any customer, and yet people still look for local and regional suppliers. Financial and legal issues are still mostly set by place too. Where will you place your distribution centers? Would better placement of your business let you ship faster or more cost-efficiently?
Promotion is the P that everyone knows Marketing is about. Of course, we are not only talking about advertising in promotions, but also sponsorships, public relations, special offers, viral marketing, and so much more.
Every business, and every product or service, will need its own special blend of those four elements. The cheaper the product and the better your place, the lower the price you can offer. The more attractive a product is for the price, the further people will travel or the longer they'll wait, and the less promotion the product will need.
The 4 P's of marketing all…...

Similar Documents

Marketing Mix (4 P’s) Analysis and Competitors Evaluation: Pran Rfl Group”

...American International University Bangladesh (AIUB) Summer Semester, 2012 Principle of Marketing Section: A A Group Report On “Marketing Mix (4 P’s) Analysis and Competitors Evaluation: Pran RFL Group” Submitted to Mr. Stanley S. Rodrick Lecturer, Faculty of Business Administration Department of Marketing Submitted by: Zabir Md Abdullah (08-12484-3) Rased Abdur (09-14501-2) Anoy Md. Shakib Ahamed (09-14497-2) Acknowledgement All praises to the Almighty Allah, who has bestowed his kindness upon us by giving us the opportunity, time, courage, strength and patience to carry out and complete the report properly. We are very much thankful to our honorable course instructor, Mr. Stanley S. Rodrick Madam for his valuable and intellectual guidance to prepare this report We are very much grateful to our group member zabir for giving us his ideas which is very much helpful to us. Then we must thank all of our respondents for cooperating with us by giving information of all the questions about the topic. Without their help it was not possible to complete this report. Finally we must not lose opportunity of expressing our......

Words: 2574 - Pages: 11

4 P's of Marketing

...The 4Ps are: Product (or Service) Place Price Promotion A good way to understand the 4 Ps is by the questions that you need to ask to define you marketing mix. Here are some questions that will help you understand and define each of the four elements: Product/Service What does the customer want from the product/service? What needs does it satisfy? What features does it have to meet these needs? Are there any features you've missed out? Are you including costly features that the customer won't actually use? How and where will the customer use it? What does it look like? How will customers experience it? What size(s), color(s), and so on, should it be? What is it to be called? How is it branded? How is it differentiated versus your competitors? What is the most it can cost to provide, and still be sold sufficiently profitably? (See also Price, below). Place Where do buyers look for your product or service? If they look in a store, what kind? A specialist boutique or in a supermarket, or both? Or online? Or direct, via a catalogue? How can you access the right distribution channels? Do you need to use a sales force? Or attend trade fairs? Or make online submissions? Or send samples to catalogue companies? What do you competitors do, and how can you learn from that and/or differentiate? Price What is the value of the product or service to the buyer? Are there established price points for products or services in this area? Is the customer price sensitive...

Words: 560 - Pages: 3

4 P's in Action

...Name: Liang Wang Date: Sep 10th, 2013 The 4 P’s in Action The largest traditional U.S. bookseller Barnes & Noble bookstore is facing and work their way through a difficult period. Sales decreased at Barnes & Noble bookstores in the latest quarter and its Nook e-book devices failed to keep up with competitors, pushing the company to a net loss that more than doubled from a year ago. Barnes & Noble expects to close up to a third of its retail book stores over the next decade. Like other retailers, the chain has struggled in a digital world, where readers increasingly turned to e-books and online discounts. I will give two suggestions for Barnes & Noble in order to go through the difficult period. First, Barnes and Noble’s marketing team may change their marketing place from mainly the traditional book stores to mainly Internet sales. Barnes & Noble is the largest book retailer in the United States, operating mainly through its bookseller’s chain of bookstores. The store chain is so big that it will cost too much on rent and overhead fee. In order to reduce the cost, they can make the best use of the Internet as a powerful medium and sales channel. The Internet is the lowest cost system developed to communicate with a potential customer of hundreds of millions of people all over the world. The cost of a simple web site is usually less than the cost of running a regular book store. A Web site can also give more information than a regular book store,......

Words: 658 - Pages: 3

4 P's of Ray Ban

...Marketing Mix Of Ray Ban Marketing Essay Marketing mix" is a general phrase used to describe the different kinds of choices organizations have to make in the whole process of bringing a product or service to market. The 4 Ps is one way - probably the best-known way - of defining the marketing mix, and was first expressed in 1960 by E J McCarthy. What is marketing? Putting the right product in the right place, at the right price, at the right time. When We talk about Market,Whether you are a small business or a large corporation you need a good marketing strategy. There are many ways to market your business the question is which ways are the most effective for your product or service? Ray-Ban is a Eyewear company.This Company just make Sunglasses. The 4 P's of Ray-Ban Marketing decisions generally fall into the following four controllable categories: Product Price Place (distribution) Promotion PRODUCT Product/Service The term "product" refers to tangible, physical products as well as services. Here are some examples of the product decisions to be made: Brand name Functionality Styling Quality Safety Packaging Repairs and Support Warranty Accessories and services Ray-Ban have a eyewear products.Ray-Ban become a good brand in eyewear industry. Ray-Ban know what does the customer want from the product and what needs does it satisfy. Ray-Ban just selling googols but in many models. Ray-Ban giving guaranty on some googols glasses for screech. Ray-Ban......

Words: 1090 - Pages: 5

4 P's of Marketing for Starbucks

...Thomas F. Hawk. I expected to have 15,000 Starbucks stores open worldwide going into 2006. Believing that the scope of Starbucks’ long-term opportunity had been underestimated, Schultz had recently increased the targeted number of stores from 25,000 to 30,000 worldwide by 2013, at least half of which were to be outside the United States.2 He noted that Starbucks had only an overall 7 percent share of the coffee-drinking market in the United States and perhaps a 1 percent share internationally. According to Schultz, “That still leaves lots of room for growth. Internationally, we are still in our infancy.”3 Although coffee consumption worldwide was stagnant, coffee was still the secondmost-consumed beverage in the world, trailing only water.4 Starbucks reported revenues in fiscal 2005 of $6.4 billion, up 205 percent from $2.1 billion in fiscal 2000; after-tax profits in 2005 were $494.5 million, an increase of 423 percent from the company’s fiscal 2000 net earnings of $94.6 million. COMPANY BACKGROUND Starbucks got its start in 1971 when three academics, English teacher Jerry Baldwin, history teacher Zev Siegel, and writer Gordon Bowker—all coffee aficionados—opened Starbucks Coffee, Tea, and Spice in touristy Pikes Place Market in Seattle. The three partners shared a love for fine coffees and exotic teas and believed they could build a clientele in Seattle that would appreciate the best coffees and C-468 Case 29 Starbucks’ Global Quest in 2006: Is the Best Yet to......

Words: 18992 - Pages: 76

4 P's for Oriflame

...4 marketing P’s It’s very important to consider the 4P’s analyze because it will help us to evaluate the weakness and strengths of the company. It also will give us an advice to discover the segment where company can easier succeed and the segment where it should work more and improve the strategies. 1. Product Analyzing this step we can see if the product that company selling is the one that customers really need because this is the most important key to success. Oriflame offers natural cosmetic products which helps them to build the main core competence of the company. 2. Price Why is Price so important? Price is the only element of mix that generates turnover and profits and this is the first choice criteria for consumers (especially in times of economic crisis). The price allows consumers to compare and make decisions, it directly influences demand (price elasticity) and gives an indication of the product’s positioning and quality. Other influences which affect consumer demand is psychological price -> fix your price according to two points: the pricing floor (too cheap) and the pricing ceiling (too expensive). We can say that Oriflame keeping its prices between this two levels. This fact is an advantage for them because people can afford the products and choose them instead of more expensive brands, considering that in cosmetics industry are a lot of competitors. 3. Place The positioning of a product or a brand, it’s making the great choice to put......

Words: 494 - Pages: 2

A Case Study on 4 P's of Lux

...PROMOTION Promotion is an important marketing force that provides an extra incentive(usually short term in nature) for consumers, the trade, the sales force and other influential groups. Promotion ranks with advertising and selling efforts as one of the major activities that can be utilized in the marketing of packaged goods. Promotion is directed not only to consumers or the trade but also to the occasion to the sales force and other influential groups. The great Indian brand wagon of Lux started nearly 4 decades ago. Great brands sometimes outlast their ambassadors as proven by Lux which celebrated its 75th anniversary in India. The first ambassador Leela Chitnis featured in a Lux advertisement which flagged off the Lux wagon. She gave way to a galaxy of stars which include Madhubala, Nargis, Meena Kumari, Mala Sinha, Sharmila Tagore, Waheeda Rehman, Sairah Banu, Hema Malini, Zeenat Aman, Juhi Chawla, Madhuri Dixit, Sridevi, Aishwaria Rai Bachchan, Kareena Kapoor, Priyanka Chopra and most recently Katrina Kaif. The last frontier for most actors aspiring to stardom is becoming a Lux ambassador. The brand has outlasted many soaps. From the beginning, Lux became a household name in the country. Lux advertisements through ages Lux campaigns have wooed millions of people over the decades. Popularly known as the beauty soap of film stars, Lux has been an intimate partner of the brightest stars on the silver screen for decades. An ode to their beauty, an......

Words: 1396 - Pages: 6

The 4 P's of the Marketing Mix

...Philosophers sometimes view the idea of human freedom of action as the real problem of free will, but this classification is one of the main misunderstandings in both subject matters. The misunderstanding between freedom and free will may have begun as early as the time when Thomas Hobbes and David Hume, argued their cases to support the theory of the modern concept of compatibilism. From both Hobbes’ and Hume’s perspective, to be free to act on one's will is basically to be free of external restrictions, limitations, constraints, and controls. From their perspective, the absence any external constraint gives makes the agent freedom to do as he or she wills, even if the person’s will itself is determined (or predetermined) by causal laws of nature. Factors That Affect Personal Development Take a moment to consider all of the genetic and environmental factors that have shaped who you are today, and you will quickly become overwhelmed. From gender, race, and socioeconomic background—to family dynamics, education, and genetics—there are millions of factors that have converged to make you who you are. Most people believe that humans are responsible for their own actions and that they all have the opportunity to make the right choices. But when you consider how large a role race, gender, wealth, and family upbringing all play in shaping an individual, can you truly believe that everyone has the same opportunities? Furthermore, are there some conditions under which people......

Words: 1945 - Pages: 8

4 P's

...MARKETING MIX STRATEGIES Marketing mix strategies comprises of four P’s: PRODUCT Product is the basic component of marketing mix. The decision pertaining to product may relay to: * Product attributes * Product mix * Branding * Product Support service Beginning from the customers to the sellers to the realtors and investors, each one of us is plunging for quality homes within your reach. Unitech, the largest real estate company not only in term of revenue but also earning, market capitalization and developable area. Quality Unitech offers quality Products to its customers even at affordable price. Variety Its key business is the expansion of residential, commercial and retail properties which also includes flyovers, highways and airports, schools, hotels, transmission lines, entertainment projects, amusement parks and SEZs. Design Design is nothing but ‘How the product looks and how you feel about that’. Unitech design its product keeping in mind not only the quality but also make use of an innovative design to attract the buyers towards it. It also provides architectural and engineering design particularly for affordable housing customers. Brand Name Unitech got the title of ‘Super brand’ by the Super Brands India in 2008.’ It also won the award for being among India’s top ten builders. Facilities Unitech designs its products’ keeping in mind the needs and preferences of the buyers and provides them with the best of the facilities: *......

Words: 1091 - Pages: 5


...additional cost of inputs needed for production (variable costs). Materials • Marginal Cost Concept: Marginal Productivity |Mastery |100% |Questions |4 | | | | |5 | | | | |6 | | | | |9 | | | | |11 | Materials on the concept: • Profit Maximization in the Short Run: Marginal-Revenue–Marginal-Cost Approach • The Demand for Resources • Marginal Productivity Theory of Resource Demand • Quick Review 12.1 • Marginal Revenue Product • Rule for Employing Resources: MRP = MRC • Linear Models and First Quadrant Graphs • Table 12.2 The Demand for Labor: Imperfect Competition in the Sale of the Product • Linear Models and Slope-Intercept Graphs A • Resource Demand under Imperfect Product Market Competition • Resource Demand as a Derived Demand • Personal Saving • Changes in Product Demand • Personal Taxes • MRP as Resource Demand Schedule • Short-Run Production Relationships • Short-Run Production Costs • The Costs of Production • Diminishing Returns, Production Costs, and Product Supply Show More Top of Form 4 . It is profitable for a firm to continue employing additional resources as long as • A. Marginal Revenue Product >= Marginal Resource Cost • B. Marginal......

Words: 2269 - Pages: 10

Gnc and the 4 P's

...Second Final Business Analysis Project Assignment TA: Jason Steinberg (jss467) Product: GNC offers a diverse array of health and wellness products that all promote consumer weight loss, strength gain, and increased athletic ability. GNC Pro Performance AMP Amplified 100% Whey Protein is one of the firm’s top-selling products and is the most popular whey protein offered by GNC. This particular line of whey protein benefits all consumers from athletes and fitness enthusiasts to the average buyer looking to lose weight and improve overall strength and conditioning. GNC Pro Performance AMP Amplified 100% Whey Protein serves as both a daily meal replacement and as a supplement for workouts to aid in muscle recovery and development. The hydrolysates in the whey protein help the body’s cells process, store, and release amino acids in order to accelerate time needed for the body to recuperate. This is important for athletes who are straining their bodies regularly and need to be functioning well at a cellular level. Whey protein hydrolysates meet daily protein requirements and maximize muscle growth, helping to satiate feelings of hunger thus cutting fat and lowering body fat percentage in consumers. GNC Pro Performance AMP Amplified 100% Whey Protein is offered in chocolate and vanilla flavors to satisfy customers’ tastes and preferences, thereby appealing to a wider range of people and prospective buyers. One of GNC’s biggest competitors is Bodybuilding.com, an online retailer...

Words: 1305 - Pages: 6


...Grading Rubric for Presentations | Scaled Score: | F(0) | D(1) | C(2) | C+(3) | B(4) | A(5) | | | Weights | Unacceptable | V. Poor | Poor | Average | Good | Excellent | Weighted Score | Coherence and Organization | 15% | Audience cannot understand presentation because there is no logical flow of ideas. | Audience has difficulty following presentation because student jumps around. | Student presents information in a poor logical sequence which audience cannot follow | Student presents information in logical, interesting sequence which audience can follow. | Student presents information in logical sequence which audience can follow. | Student presents information in logical, interesting sequence which audience can follow. | | Subject Knowledge | 40% | Student does not have grasp of information; student cannot answer questions about subject | Student is uncomfortable with information and is able to answer only rudimentary questions | Student answers the questions poorly and fails to elaborate | Student demonstrates adequate knowledge by answering some class questions with explanations and elaboration. | Student is at ease with expected answers to all questions, but fails to elaborate. | Student demonstrates full knowledge (more than required) by answering all class questions with explanations and elaboration. | | Quality of Content and Visuals | 15% | Student's presentation has many spelling errors and/or grammatical errors. Student does not use graphics |......

Words: 461 - Pages: 2

The 4 P's

...have any franchise outlet nor do they distribute their cupcakes to any related cafes to sell. The type of distribution Twelve Cupcake uses are Corporate VMS. Cupcakes are made directly from the outlet and then sold directly to the consumers. Twelve cupcakes uses visual appeal for their outlet concept. Usually displacing all their cupcakes on the display shelf to show case to consumers when they walk pass the shop. Price Twelve Cupcakes adopts Cost-Based pricing strategies. Setting cost for taking into account the expense delivering, circulating, and offering the item in addition to a reasonable rate of return for effort and risk. It is also adopted the break-even pricing to set price to break even on the costs of production, therefore marking up the price to cover up the cost price used to produce the cupcakes. One of Twelve Cupcakes price adjustment is promotional pricing. Running promotions like seasonal promotion for example leap year promotion, where you purchase 3 cupcakes and you get 1 for free. Another example is SG50, where within 50 mins the cupcakes are sold only at $0.50 each. This promotion was created specially for the country, as it was a unique way to attract more customers. Promotion Where promotion is concerned, pushing means that Twelve Cupcakes focuses on the channel members to promote. Pulling means that they promotes directly to the customers. The producer have to create a demand for the product, with which the consumer will approach channels to......

Words: 417 - Pages: 2

4 P's

...because there has been no research on the culture and the hypothetical consumers were offended by that product (Willan 2011). So research is vital to identify the potential customer, in this respect Professor Peter Drucker says, "make what you can sell and not sell what you can make" (Willan 2011), the concept of research is implicit in the phrase. It is clear at this point that marketers must consider a diverse range of aspects of the relationship between product and consumer. Marketing Mix - Apple’s case study During research marketers need to identify the consumer in order to know with certainty what kind of product offer. The buyer is exposed to stimuli that are also known as the marketing mix and can be identified with the four P’s: product, price, place and promotion (Blythe 2008). Apple Inc. is an example of a successful marketing mix, this company has a positive feedback by the consumers because they know how to deal with them, Apple Inc. knows exactly what the consumer wants and its success is given by a powerful research. Product The first thing to take into account about the marketing mix is the product. Basically the product is anything tangible or not, may be a service, a physical good, a place, a product is anything that satisfies a need (Blythe 2008). Apple gives to their customers a wide range of products that covers many field in technology for example they have different kinds of laptop with different size and power, also they invented the iPod......

Words: 1741 - Pages: 7

The 4 P's

...Marketing Mix – The 4 P’s of Marketing Product The foremost of the marketing four p’s is the product that a company intends to sell. A product can be something like a car, toothbrush, nail polish, utensil, clothing item, etc. Although, manufacturing a product does not fall in the work of the marketing department, yet how the product should look, how it should function and how it can be used by the customers, is mainly determined by market research and based on the same marketing strategies are determined to position it in the best possible manner in the market. To be successful at developing the right product, which is one of the important four p’s of marketing, the marketing department should give regular inputs with regards to the needs and wants of the customers to the manufacturing department. Guarantees, warranties as well as support services for the product are decided upon to match the offerings of the competitors. Price Next of the 4 p’s of marketing is the pricing strategy. The price should be determined in accordance to a number of factors such as the number of product features, the price of similar products in the market, how much the customers are willing to shell out for the conveniences offered by the product, etc. As price is the revenue for a business so special attention should be paid while determining the pricing strategy. Discounts, allowances, financing options fall under the pricing marketing mix strategy too. Place “Place” refers to making a......

Words: 465 - Pages: 2