The 4Ps of marketing
When launching a new product or service, you have to think carefully about a range of factors that will determine its attractiveness to consumers. The most widely used way of defining this ‘marketing mix’ is to think in terms of the 4Ps: product, price, place and promotion. This is a useful checklist to ensure that you have thought through the key elements of your value proposition.
When to use it
- To help you decide how to take a new product or service offering to market.
- To evaluate your existing marketing strategy and identify any weaknesses.
- To compare your offerings to those of your competitors.
While its origins are much older, marketing really took shape as a professional discipline in the post-war ...