4 P’s of Marketing

We talk about the 4 P’s of Marketing – Product, Price, Promotion and Place. In a way we can say that the entire process of Marketing is a Communication process. For example what do we want to say about a particular product – is it youthful, young, matured, secured, – that is what is the profile of the customers that we are looking at. Once we have identified a group and further identified a few characteristics about them then we can incorporate those very characteristics in our message formulation. This would be under the context of Product. That is the distinctive image you want to associate the brand with.
Within the context of Price, quality plays a major role. When you think about Mercedes Benz at a price tag of Rs. 70 Lakhs, there is certainly a difference you perceive when you are given an automobile with a tag price of Rs. 3 Lakhs.

The Place would mean the interaction between the buyer and the seller. It is like you advertise your brand of television but when the buyer goes to the shop he does not get it there. So the place would mean the distribution channels.

Promotion would encompass the method and the media used to reach out to the people. Even in rural areas, where there may not be many televisions in households, but through the local shows and with the help of ‘Nautankiwalas’ you promote your product. The local salesman coming to your house to sell shawls from Kashmir is another example of promoting your wares.

Advertising as such is related closely to other subjects of marketing too. Be it Personal Selling, Sales Promotion, Publicity or even Public Relations, advertising plays a significant role in reaching out to the selected target audience.