What are 4Ps of the Marketing Mix

The 4ps of the marketing mix are the key components of marketing a product or service. Product, price, place, and promotion are the key components of the marketing mix. These components help companies identify the need of consumers. How their product will fulfill that need and how the product or service is perceived by consumers. It also helps companies to differentiate the product from competitors.

4Ps of Marketing Mix


The product basically refers to the good or service offer to consumers by a company. This good or service ideally should satisfy the need of a particular consumer. The more the product is targeted at satisfying consumer needs, the more the product is successful. The product should deliver a certain level of performance, otherwise, company efforts on other marketing P’s will go wasted.

4Ps of marketing mix


Price is defined as the value that the consumer pays for the product or service. Marketers should keep certain factors while deciding the price of a product or service. They include

  • Cost of production
  • Supply cost
  • Seasonal Discount
  • Competitors price
  • Marketing expense


The company’s decision to market a certain product in a specific location is place or placement. The company determines where should they sell the product and how will the product reach the market. It is the job of a marketer to place the product in front of the consumer, who is likely to buy it.


Promotion includes advertising the product, creating product awareness, and convincing consumers why should they buy the product. Marketers tie placement and promotion together to reach their target audience. They promote their product in the area where they have market it, in order to catch their target consumer.

All the 4ps of the marketing mix are equally important. Mistakes in any of the 4ps can ruin all other efforts of a marketer. For effective results marketers need to work on all 4Ps, so to get good sales


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