The 4 P's of marketing
Posted: Thu Jan 23, 2025 8:15 am
The 4Ps of marketing were defined by Professor E. Jerome McCarthy in the 1960s. Neil Borden had developed a proposal for variables in the 1950s, but it was with McCarthy that the concept transcended.
It is a basic concept for any marketer, known as the 4Ps because in English the name of each variable begins with the letter P. These variables are product, price, distribution and communication, let's look at each of them:
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In this blog we will talk about the 4 P's of marketing. If you are costa rica phone number list to product marketing, this will surely interest you. Let's get started!
What are the 4Ps of marketing and how do they work?
It should be emphasized that these four variables, despite being independent, need to complement each other with coherence and fluidity in organizations.
1. Product:
The key element in any marketing campaign is the product. As all marketing activities revolve around it, the product is the protagonist of the four pillars of marketing and therefore in the customer's actions.
The term “product” refers to a very broad concept, as it includes everything offered for sale in a market that has the potential to satisfy a consumer need or desire in some other way.
Initially, the product was focused on innovation, but today it focuses on consumer needs and preferences, such as product presentation, brand, warranties, image, service and customer sensitivity, among other aspects.
In any marketing strategy, it is important to define our product and have guidelines such as: what do I sell and what needs does my product cover? Does my product have added value? Does my product have good features? Will my customers benefit from buying my product?
2. Price
The specialized definition of price is the expression of the value of a product or service, expressed in terms of money or other beneficial factors.
This value must be paid by the buyer to the seller, and thus he will be able to enjoy all the advantages of owning or using the product or service as we have seen previously.
Some of the factors surrounding the price variable are: discounts, incentives, payment terms, credit terms and delivery times, among others.
As it is the only variable that generates income, its study deserves special attention. It is a highly competitive, critical and complex variable that is of great importance in the marketing strategy of any organization.
To determine a fair price, many aspects must be taken into account, such as the market, costs, competition and, above all, the customer with the final benefits. The conclusion that customers reach after comparing the price they pay with the value they receive will determine whether the organization has correctly set the price of the product.
It is a basic concept for any marketer, known as the 4Ps because in English the name of each variable begins with the letter P. These variables are product, price, distribution and communication, let's look at each of them:
Start a project
In this blog we will talk about the 4 P's of marketing. If you are costa rica phone number list to product marketing, this will surely interest you. Let's get started!
What are the 4Ps of marketing and how do they work?
It should be emphasized that these four variables, despite being independent, need to complement each other with coherence and fluidity in organizations.
1. Product:
The key element in any marketing campaign is the product. As all marketing activities revolve around it, the product is the protagonist of the four pillars of marketing and therefore in the customer's actions.
The term “product” refers to a very broad concept, as it includes everything offered for sale in a market that has the potential to satisfy a consumer need or desire in some other way.
Initially, the product was focused on innovation, but today it focuses on consumer needs and preferences, such as product presentation, brand, warranties, image, service and customer sensitivity, among other aspects.
In any marketing strategy, it is important to define our product and have guidelines such as: what do I sell and what needs does my product cover? Does my product have added value? Does my product have good features? Will my customers benefit from buying my product?
2. Price
The specialized definition of price is the expression of the value of a product or service, expressed in terms of money or other beneficial factors.
This value must be paid by the buyer to the seller, and thus he will be able to enjoy all the advantages of owning or using the product or service as we have seen previously.
Some of the factors surrounding the price variable are: discounts, incentives, payment terms, credit terms and delivery times, among others.
As it is the only variable that generates income, its study deserves special attention. It is a highly competitive, critical and complex variable that is of great importance in the marketing strategy of any organization.
To determine a fair price, many aspects must be taken into account, such as the market, costs, competition and, above all, the customer with the final benefits. The conclusion that customers reach after comparing the price they pay with the value they receive will determine whether the organization has correctly set the price of the product.