(Point of view): The Four Ps

1. The Marketing Mix:
The Four Ps
By: Jaraeya McGraw

2. What are the four Ps?
The marketing mix, also
known as the four Ps is a way
that marketing successfully
creates value through
decisions about product,
price, place and promotion.
The four Ps are a controlled
set of decisions that is used
by a company to respond to
the wants of its target
market.

3. What do the four Ps achieve?
The products create
value
The price captures the
value
The place delivers the
value
The promotion
communicates the value

4. Product
+ Creating value is done by offering goods (items that
you can touch), services (items that you cannot touch,
a work performed by someone), and ideas (thoughts
and opinions) to satisfy a customer's need.

5. Price
+ Capturing value is done by deciding how much a
potential customer will actually pay for a product,
service, or idea they will be satisfied with while leaving
the seller with gaining a profit.
+ Price is more than just how much something costs.
Price includes everything the buyer is giving up. They
are giving up not only money, but their time and
maybe even their energy for the product.

6. Place
+ Delivering the value consists of getting the product to
the correct place at the correct time to the correct
customer, when the customer wants it.
+ (Location, location, location!)

7. Promotion
+ Communicating the value is the final step of the four
Ps which is advertising the products and services by
persuading, reminding or informing potential
customers about the product or service.

8. Why are the four Ps important?
Product is important because you cannot sell something is if there is nothing to sell. Without something
to sell, the company is not making money. Companies need to be able to give potential customers
something to solve a problem that they have.
Price is important because companies must make profits and if they are marketing successfully the
price will be appealing to potential customers which will make them buy. Customers should
believe they are getting something that is worth what they paid or more.
Place is important because that determines where and how potential customers' will be exposed to
a company's idea, service or product.
Promotion is important because it is how the company actively communicates to potential
customers about what they are selling. There should be multiple different channels of promotion
to reach different types of customers to sale as many products possible.

9. Things to take
into
consideration
surrounding
the four Ps
include...
(Product) what can help solve a customer's
problem,what good can be put out to make a
potential customer feel like they need it
(Price) real and perceived value, supply costs,
discounts, and competitors prices
(Place) online or in stores, and the placement
of the product in stores
(Promotion) which channel to advertise on

10. Example of the
four Ps
+ Product: Coca-Cola brand
+ Coca-Cola
+ Sprite
+ Powerade, Etc..
+ Place: Coca-Cola is sold in many stores world-wide
+ Walmart
+ Kroger
+ Meijer
+ Price: Coca-Cola has different prices
+ 12 pk 12 oz cans for $5.49
+ 6 pk 16.9 oz bottles currently on sale at Kroger for $3.67
+ Coca-Cola currently offering a special 3 select products for $11
+ Promotion: modern and traditional channels are used to promote Coca-
Cola
+ Promotional videos on YouTube
+ Television ads
+ Taste the Feeling campaign

12. + Companies will mix the four Ps to successfully create
effective marketing, but the way companies mix the
four Ps will differ from company. If a company's
marketing mix combination includes product, price,
place and promotion their business should
be successful and effective in the market .