how to use the 4 ps of marketing in your marketing strategy
the four ps provide a framework on which to build your marketing strategy think through each factor and don t worry when the factors overlap that s inevitable first analyze the product you will be marketing what are the characteristics that make it appealing consider similar products that are already on the market your product may be tougher easier to use more attractive or longer lasting its ingredients might be environmentally friendly or naturally sourced identify the qualities that will make it appealing to your target consumers think through the appropriate price for the product it s not simply the cost of production plus a profit margin you may be positioning it as a premium or luxury product or as a bare bones lower priced alternative placement involves identifying the type of store online and off that stocks products like yours for consumers like yours promotion can only be considered in the context of your target consumer the product might be appealing to a hip younger crowd or to upscale professionals or to bargain hunters your media strategy needs to reach the right audience with the right message example of the four ps of marketingto put this into perspective let s consider a fictional skincare company that produces organic skincare products here s how the four ps might be utilized 