The 4 Ps of marketing are the four main pillars of the marketing mix. They are product, price, place, and promotion.
For a better understanding, let's start by defining the marketing mix. It's a plan that sets out a company's different objectives, whether in terms of product policy, distribution, communication, or pricing.
Of course, the marketing mix must be consistent. In other words, if your business model has a product policy that involves, for example, high-end products, B2B, or B2C, your communication, distribution strategy, and pricing will have to follow this logic.
The 4 Ps are the brainchild of Philip Kotler, a marketing professor at the time.
Since then, a number of researchers have examined the subject, and some now also speak of the 5 Ps, adding the dimension of "people," or even the 7Ps, integrating the dimensions of "process" and "physical evidence."
Let's go back to the 4 Ps for a moment and define more precisely what each of these headings means:
Only if the 4 Ps are perfectly relevant and consistent can a store's sales take off and give it a competitive advantage.
What's more, the 4 Ps are likely to evolve constantly, in line with market trends, particularly in today's highly digitalized and competitive marketing environment.
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