what are the 4 p s of marketing 
product price place and promotion are the four ps of marketing the four ps collectively make up the essential mix a company needs to market a product or service neil borden popularized the idea of the marketing mix and the concept of the four ps in the 1950s product refers to an item or items the business plans to offer to customers the product should seek to fulfill an absence in the market or fulfill consumer demand for a greater amount of a product already available before they can prepare an appropriate campaign marketers need to understand what product is being sold how it stands out from its competitors whether the product can also be paired with a secondary product or product line and whether there are substitute products in the market price refers to how much the company will sell the product for when establishing a price companies must consider the unit cost price marketing costs and distribution expenses companies must also consider the price of competing products in the marketplace and whether their proposed price point is sufficient to represent a reasonable alternative for consumers place refers to the distribution of the product key considerations include whether the company will sell the product through a physical storefront online or through both distribution channels when it s sold in a storefront what kind of physical product placement does it get when it s sold online what kind of digital product placement does it get promotion the fourth p is the integrated marketing communications campaign promotion includes a variety of activities such as advertising selling sales promotions public relations direct marketing sponsorship and guerrilla marketing promotions vary depending on what stage of the product life cycle the product is in marketers understand that consumers associate a product s price and distribution with its quality and they take this into account when devising the overall marketing strategy marketing refers to any activities undertaken by a company to promote the buying or selling of a service if there is a limited quantity of a product a company may market itself in an attempt to be better positioned as one of the few who get to buy something types of marketing strategiesmarketing is comprised of an incredibly broad and diverse set of strategies the industry continues to evolve and the strategies below may be better suited for some companies over others before technology and the internet traditional marketing was the primary way companies would market their goods to customers the main types of traditional marketing strategies include the marketing industry has been forever changed with the introduction of digital marketing from the early days of pop up ads to targeted placements based on viewing history there are now innovative ways companies can reach customers through digital marketing in 1978 gary thuerk sent a message to roughly 400 people using arpanet the first public packet switched computer network with that message the first ever recorded spam e mail message had been sent 2