Marketing Basic: Four Ps
Over on CPG Branding and Marketing Forum, I posted on the 4Ps of marketing this week. I want to take this opportunity to explain the 4Ps of Marketing.
4Ps were defined by E. Jerome McCarthy in 1960. Since then, it has been taught in numerous marketing courses and practiced by countless marketers. The 4Ps can be roughly defined as follows:
- Product:Â A solution to a consumer problem
- Price:Â The value this solution offers to consumer
- Place:Â How consumers would access this product
- Promotion:Â What information will drive consumers to seek out / purchase this product
4Ps is a basic framework. Real life business problem is often more complicated. However, mastering the framework serves as the beginning of success. Brands that do not have the 4Ps clearly define rarely succeed, if ever. In addition, the 4Ps help you define your positioning in the marketplace. If your 4Ps is exactly like your competitors’ 4Ps, you’re not giving your consumer a reason to buy from you, and not from your competitors.
Photo credit: Sakkra Paiboon
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Jeannie Chan is a Brand Manager for a Fortune 500 consumer goods company. She considers herself a marketer, a traveler, and a foodie. Jeannie lives in NYC. 
Knceokd my socks off with knowledge!