Marketing Management, 16th Edition

The Seven Ts and the Four Ps

The view of marketing tactics as a process of defining the seven key attributes of an offering can be related to the widely popular 4-P framework. Introduced in the 1960s, the 4-P framework identifies four key decisions that managers must make when designing an offering: the features to include in the product, the price of the product, the best way to promote the product, and the retail outlets in which to place the product. These four decision areas are represented by the Four Ps: product, price, promotion, and place.

Because it is simple, intuitive, and easy to remember, the 4-P framework enjoys wide popularity. However, because of that very simplicity, the 4-P framework has significantly limited relevance in the ...