what are the 4 ps of a marketing mix 
the four ps classification for developing an effective marketing strategy was first introduced in 1960 by marketing professor and author e jerome mccarthy 1 it was published in the book entitled basic marketing a managerial approach depending on the industry and the target of the marketing plan marketing managers may take various approaches to each of the four ps each element can be examined independently but in practice they often are dependent on one another this represents an item or service designed to satisfy customer needs and wants to effectively market a product or service it s important to identify what differentiates it from competing products or services it s also important to determine if other products or services can be marketed in conjunction with it the sale price of the product reflects what consumers are willing to pay for it marketing professionals need to consider costs related to research and development manufacturing marketing and distribution otherwise known as cost based pricing pricing based primarily on consumers perceived quality or value is known as value based pricing value based pricing plays a key role in products that are considered to be status symbols 