25 Need-To-Know Management Models

Chapter 10

4Ps of marketing (Kotler)

• Why use it? Kotler’s marketing mix is a tactical toolkit that an organisation can use to state and execute its marketing strategy. As an organisation can adjust the ‘4Ps’ categories on a regular basis, it is able to keep pace with the changing needs of customers in a specific market segment.
• What does it do? When grouped into the categories product, price, place and promotion, marketing decisions can be justified and chosen deliberately.
• When to use it? An analysis of the elements that form the marketing mix of an organisation, the 4Ps introduced by Philip Kotler, can give a company insights into their current and potential interactions with current and potential customers and the position they occupy in ...