Volume IV, Issue II, February 2015 IJLTEMAS ISSN 2278 - 2540

Marketing Mix (Four P’s)

Sonia Sinhmar
Sonia.sinhmar23@[Link]

Abstract: In this paper, we will explain about marketing as  How is it differentiated versus your competitors?
marketing is a process to sell some product or we can say to  What is the most it can cost to provide, and still be
convince someone to buy your product. sold sufficiently profitably? (See also Price, below).
Marketing mix is a concept in marketing as there are four P’s
involve in marketing III. PLACE

A Product  Where do buyers look for your product or service?

B Price  If they look in a store, what kind? A specialist
C Place boutique or in a supermarket, or both? Or online?
D Promotion Or direct, via a catalogue?
 How can you access the right distribution channels?
Keywords: Marketing, Branding, Sales.
 Do you need to use a sales force? Or attend trade
fairs? Or make online submissions? Or send
I. INTRODUCTION samples to catalogue companies?
 What do you competitors do, and how can you learn
from that and/or differentiate?
M arketing Mix involve in four steps as what is your
product, who are target audience, what your price
related to same product in market and finally your
promotion.

The marketing mix and the 4Ps of marketing are often used
as synonyms for each other. In fact, they are not necessarily
the same thing.

"Marketing mix" is a general phrase used to describe the

different kinds of choices organizations have to make in the
whole process of bringing a product or service to market.
The 4Ps is one way – probably the best-known way – of
defining the marketing mix, and was first expressed in 1960
by E J McCarthy.

A good way to understand the 4Ps is by the questions that

you need to ask to define your marketing mix. Here are some
questions that will help you understand and define each of
the four elements:

II. PRODUCT/SERVICE IV. PRICE

 What does the customer want from the  What is the value of the product or service to the
product/service? What needs does it satisfy? buyer?
 What features does it have to meet these needs?  Are there established price points for products or
 Are there any features you've missed out? services in this area?
 Are you including costly features that the customer  Is the customer price sensitive? Will a small
won't actually use? decrease in price gain you extra market share? Or
 How and where will the customer use it? will a small increase be indiscernible, and so gain
 What does it look like? How will customers you extra profit margin?
experience it?  What discounts should be offered to trade
 What size(s), color(s), and so on, should it be? customers, or to other specific segments of your
 What is it to be called? market?
 How is it branded?  How will your price compare with your
competitors?

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Volume IV, Issue II, February 2015 IJLTEMAS ISSN 2278 - 2540

REFERENCES
V. PROMOTION
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Build your Business Planning plan

Strategy

Q.1 Describe your pricing strategy and how it lines up with

your market.
Q.2 Why do you think this strategy will be effective?
Q.3 How competitive is your product/service price compared
with your direct competitors

CONCLUSION

The four P’s—product, price, place, and promotion—should

work together in your marketing mix. Often, decisions on
one element will influence the choices available in others.
Selecting an effective mix for your market will take time and
effort, but these will pay off as you satisfy customers and
create a profitable business. The worksheets that follow will
help you construct your marketing plans. Once you have a
good marketing mix—the right product at the right price,
offered in the right place and promoted in the right way—
you will need to continue to stay on top of market changes
and adopt your marketing mix as necessary. Marketing is a
part of your venture that will never end.

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