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The 4 Ps

The 4Ps of marketing, also known as the marketing mix, consist of product, price, place, and promotion, which are essential factors in marketing a service or product. Introduced by Neil Borden in the 1950s, each P plays a crucial role in satisfying customer demand and ensuring successful sales. The marketing mix helps companies address challenges in making their products or services successful.

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36 views1 page

The 4 Ps

The 4Ps of marketing, also known as the marketing mix, consist of product, price, place, and promotion, which are essential factors in marketing a service or product. Introduced by Neil Borden in the 1950s, each P plays a crucial role in satisfying customer demand and ensuring successful sales. The marketing mix helps companies address challenges in making their products or services successful.

Uploaded by

Ann Abbrakadaver
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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The 4Ps of marketing

The four Ps of marketing or often refferd to as the marketing mix are the essential factors
that are associated with the marketing of a service or product. The 4 Ps of marketing are :
product,price,place and promotion.
The concept of the marketing mix was introduced by Neil Borden in the 1950s and later was
popularized as the 4 Ps of marketing.
The 1st P stands for product ,that can be a service or a good that is offered to customers by a
company .Ideally a product needs to satisfy a specific customer demand or be convincing to
the point that buyers believe they need it.
The 2nd P is for price , witch is the cost buyers pay in order to purchase the product. Price
needs to reflect the item’s real value but it can also vary depending on the production costs,
offers and market.
The 3rd P represents the place witch is the location that will be used to sell the product or to
deliver the service. The company must find a way to put the right product at the right place to
convert potential customers into actual clients.
The last P stands for promotion and it plays an important role as the other Ps do ,it includes
advertising, public relations, social media marketing, promotional strategy and more.
Promotion shows consumers why they need the product and convinces them to purchase it.
Prior to the internet the marketing mix was and still is used to help companies realize and
overcome the obstacles that prevented a product or service to become successful.

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