The 4P: Product, Price, Communicating, And Delivering

Marketing is the total management procedure via which a product progresses from concept to consumer to satisfy and meet the needs and wants of customers. This involves addressing a number of key matters: what the company is going to produce, how much they are going to charge, how it is going to distribute its products or services to the customer, how it is going to tell its customers about its products and services, how the selling process actually happens, who comes in contact with customers and the layout of interface in which the company and customers interact. These are collectively known as the 7P’s or the marketing mix: product, price, place, promotion, process, people and physical environment.

Marketing basically involves a series of processes that focus on determining customers' wants and then providing the necessary product to them. This process can also be regarded as the procedure of developing and implementing initiatives that are geared toward identifying, expecting, and satisfying the wants and demands of customers in a way that also generates profits. Marketing not only contains several important principles but it also consists of four major elements that are commonly known as the 4P's. The four main elements of marketing that are also known as the marketing mix are product, pricing, promotion, and place. Through the marketing process, the major goal of all marketers is to establish more value for customers. In order to create such value to customers, there is need for managers to understand the marketing principles that are crucial for effective marketing strategies and practices.

The products that people buy are promoted to bring in new consumers. Promotion requires an organization to have a lot of time. Also a promotion should be clear and t o the point.

Product, Price, Place and Promotion also commonly known as the 4P’s are the major factors or tools with which a firm or an organisation operates in the market by offering a superior value proposition to its clients and customers and thus earning value back from them in return to achieve the objectives of its shareholders. These 4P’s are combined together to form the marketing mix of a firm.

The four key components of its marketing strategy is the 4 Ps: Product, Price, Place, and Promotion.

* Receive only interesting requests from buyers that are profitable through filtering of information based on seller’s profile.

In the marketing section it is important to understand the importance of the 4P’s (product, price, promotion and place) all of these are important as to how the company makes decisions the R&D is responsible for the product and the marketing is focused on price, promotion and place. Therefore, when a product price either increase or decrease, this has an effect on each segment’s expected price range. Therefore, it is important to use the

Marketing include 4 Ps for marketing mix that is product, place, price and promotion. Product is the good, which is the company want to manufacture. Place is the

There are many ways to apply these theories to any organization. There are four theories of marketing concept that are called the 4 P's: product, place, price, promotion. An example of the marketing concept is Microsoft. Microsoft Company is an international company that makes many different and good products to satisfy all customers’ needs and to full all organization’s goals. Microsoft’s marketing mix consists of product, place, price, and promotion.

The Macro-environment, factors outside of a firms control, have a major affect on a firms marketing approach and as a cause, these factors outside the firms control are harder to monitor, some of the factors are unpredictable and restricting. To over come this firm sets its marketing approach, also known as the Four P 's (appendix 1); around the Macro-environment to ensure that a firm 's product is an overall success. The Four P 's approach has been criticized arguing, "That they do not take sufficient account of people, process and physical

Transactional marketing is based upon the 4Ps: product, price, placement, and promotion. The focus is upon the 'point of sale' and maximizing the value from the transaction rather than upon the characteristics of the buyer. Through market research, the company creates a product that meets a consumer's projected unmet needs, at a price point desired by the likely consumer, positions or places the product in the market in a desirable fashion relative to competitors, and finally promotes it in an engaging fashion that makes it 'stand out.' "For example, ask why your target audience needs a particular feature. What if you drop your price by 5%? What if you offer more colors? Why sell through wholesalers rather than direct channels? What if you improve PR rather than rely on TV advertising?" (Manktelow & Carlson 2012).

The concept of marketing has evolved over time. Whilst in today’s business world “the customer is king”. In the past this was not the case, some businesses put factors other than the customer first. Product focused companies define themselves by their products. For example Kodak originally defined its self as being in the photo processing business. This definition impact the culture of the company in a way that hamstrings thinking and creates impediments for action. When the shift to digital cam Kodak resisted this because of the impact on its “products photo processing”.

* To cover the 4 p’s of marketing such as product development, branding, pricing, promotion, and distribution.

EXECUTIVE SUMMARY
 INTRODUCTION: THE COMPANY
 NEW PRODUCT IDEA CUSTOMER NEEDS AND WANTS TARGETED
MARKET
SEGMENT
 SWOT
ANALYSIS
 BRANDING
AND
POSITIONING
 PRICING
 PROMOTION
 PLACE
(MARKETING
CHANNEL)
 APPENDIX
 3
 4
 4 5 6
 6
 9
 11
 11
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According to Fetherstonhaugh (2009), 4Ps of marketing Product, Place, Price, Promotion should now be replaced by the 4E’s as respective Experience, Everyplace, Exchange, Evangelism.