Life-hack: Understanding the 4 P’s of Marketing

Copy of 86-150 SQUARE - Engagement, Inspiration & Testimonials

Many people don't know about the 4 P's of marketing and how they can help to better sell a product.

 

The first is People, they need to be able to understand what you're doing and why it is important for them. Next is Place, in order for something to sell it needs a space in which people can buy it. Price, the price of a product or service will determine whether or not someone buys it. Lastly, Product/Service is the most important of the 4 P's because if you have a great product with no price then people will still find a way to get it even if they don't want to buy it.

1. What is marketing

Marketing is the act of promoting something to the public, attempting to provide information about it so that they can avail themselves of whatever is being offered. This may involve advertising in media such as billboards, newspapers, and commercials; there are many different techniques used in marketing.

2. The 4 P's of Marketing

The 4 P's of Marketing are People, Place, Price, and Product/Service.

 

1. People:

This is what you need to make the customer understand the benefits of your product/service. The customer needs to know what makes it different from other products or services. You also need them to believe in the product or service for it to sell; people buy because they want your product not because you made it desirable.

 

2. Place:

Where the customer can find the product/service they like; this could be through retail stores or online shops, whatever is appropriate for that particular type of business. They also need an accessible price that corresponds with their lifestyle; if you don't offer a price that works for them they won't buy from you. For example, don't charge a high price for children's toys because they can't afford them.

 

3. Price:

What is the customer willing to pay in order to be able to purchase your product/service? You need this all figured out before you start marketing so that your target audience will have a budget for your product/service.

 

4. Product/Service:

This is the most important of the 4 P's because if you have a great product with no price then people will still find a way to get it even if they don't want to buy it. The customer wants to know what you're offering, where they can find it, and what they can buy it for.

 

Sales Professionals - 1-min

3. How each one of the 4 P's to marketing affects the customer

Marketing is a way to promote something without the need for buying expensive ads. By following the four P's of marketing, you can communicate what you're trying to sell;

 

  • People will know what the product is and why they should buy it.
  • The place helps people find your product or business online or in-store;
  • Price determines whether or not someone buys it because they like the price more than another company's prices;
  • Product/Service makes sure that your customer knows all about what you are selling and how much it costs.

4. Why it is important to use them when marketing a product or service

The four P's of marketing are one way to sell a product or business without needing to pay for expensive ads. Understand the benefits of a product, provide a place where people can buy it from, set the price according to what customers want and need, and make sure that your customer knows all about what you're offering before they walk into the store.

 

Applying all four of the P's to your marketing will allow customers to understand what you're offering then make a purchase if they feel that it is better than another company's business.

 

Marketing is the act of promoting something to the public, attempting to provide information about it so that they can avail themselves of whatever is being offered. This may involve advertising in media such as billboards, newspapers, and commercials; there are many different techniques used in marketing.

 

If you take the time to understand the 4 P's to marketing, you can use them in order to sell your business or product without needing to pay for expensive copywriters.

 

The 4 P's are People, Place, Price, Product/Service.

We’ve talked about the benefits of applying all four P's to your marketing. What are you waiting for? Increase sales and conversions by getting started today with a new SEO strategy or digital marketing campaign that incorporates these principles.

 

Contact us if you want help figuring out what approach will work best for your company, we're happy to provide our expertise in this area!

Company

Our Mission

Our Company

Resources

Podcast

Case Studies

Boyd Hoffmann can not and does not make any guarantees about your ability to get results or earn any money with our ideas, information, tools, or strategies.

Nothing on this page, any of our websites, or any of our content or curriculum is a promise or guarantee of results or future earnings, and we do not offer any legal, medical, tax, or other professional advice. Any financial numbers referenced here, or on any of our sites, are illustrative of concepts only and should not be considered average earnings, exact earnings, or promises for actual or future performance. Use caution and always consult your accountant, lawyer, or professional advisor before acting on this or any information related to a lifestyle change or your business or finances. You alone are responsible and accountable for your decisions, actions, and results in life, and by your registration here you agree not to attempt to hold us liable for your decisions, actions, or results, at any time, under any circumstance. This site is not a part of the Facebook website or Facebook Inc. Additionally, This site is NOT endorsed by Facebook in any way. FACEBOOK is a trademark of FACEBOOK, Inc.

This site is not a part of the Facebook website or Facebook Inc. Additionally, This site is NOT endorsed by Facebook in any way. FACEBOOK is a trademark of FACEBOOK Inc.