4 Ps of Marketing: understand the concept and see examples

Have you heard of the 4 Ps of Marketing and the difference they can make to your brand? Read the text and find out more.

What are the 4 Ps of marketing?

They are a concept that brings together 4 of the main pillars of marketing strategies. It is called the 4 Ps because the 4 pillars begin with the letter “P”: product, price, square and promotion.

Another name given to the concept is Marketing Mix or Marketing Mix. When the concept is applied to marketing strategies correctly, it ends up being an important tool for the growth and development of the brand.

See below how the 4 pillars are disseminated.

#Prduct

THE product It is what your brand sells, it can be a product or service, for example, a lecture, bag, dress, consultation, technological tool, etc.

Therefore, it needs to be studied in terms of the main needs of your target audience. At this stage, you need to analyze and get to know your product to find out what is unique or different about it.

Why would a consumer choose it over your competitor’s product? What makes it stand out?

To create a good product, stand out from the rest, attract and win customers, you need to know their needs, first of all.

From this, it becomes easier to find out what your product needs to have something special, its functionalities and other relevant characteristics.

#Price

OP of price It is nothing more than the sales value of your product, that is, how much it will cost your customer.

This pillar is very important in marketing strategies: it is an important tool for the success and survival of a business.

It is very important that there is a balance, therefore, the definition of price must be carried out with great caution, strategy and good planning.

You cannot charge below market value just to win customers and risk your revenue and the financial health of your brand.

However, a very high price can scare off customers and also harm your revenue.

To do this, it is a good idea to carry out market research and set a fair price, both for your company's finances and for your customer's pocket.

There are many brands valued for their absurd prices and those with low prices are not always valued.

However, this is all part of a process and strategy. You need to educate your customers and generate value for your brand.

In addition, you must offer quality services and products, over time, all of this can generate a lot of value for your brand and thus, price of your product will no longer be a problem for you or your customer.

#Praz

One of the 4 Ps of Marketing which generates a bit of strangeness at first is the P for square. However, it refers to the place where your product will be offered.

There are many channels where your customer can have their first contact with your product, and this can be in person or in a physical environment.

In fact, the purchasing journey can start in one environment and end in another. Therefore, it is very important to define the location correctly to make the product available where your customer is.

Find out where your customers are located to determine the best location strategy, don't wait for them to find you.

Keep in mind questions such as: Where does the customer look for the product? What are the main distribution channels and how to access them? Where are your competitors?

Furthermore, when deciding on the location, you need to evaluate your product and whether it is suitable for the chosen environment.

For example, if your product has a low durability or a short shelf life, your market needs to be more limited and ensure the integrity of the product.

#Promotion

Promotion is related to the strategies to promote your product or service. It should be put into practice after the other pillars have been structured.

Now, you need to figure out where to advertise your product and when is the best time to do so.

You need to define the best actions and techniques to promote it and point out its benefits, that is, highlight what it offers best.

Actions to promote your brand must bring results, to be more objective, revenue.

Among the marketing strategies you can use to promote your brand and attract customers, we can highlight, for example:

Content Marketing;
Inbound Marketing;
SEO;
Social media;
Email marketing.

Examples of the 4 Ps of Marketing in Well-Known Brands

There are many companies that have decided to put their 4 Ps of Marketing in action on your brands.

As a result, they achieved good results and became success stories, as well as examples to follow.

Check out the examples we have selected to present to you.

#How did Havaianas use the 4 Ps of marketing?

This is one of the best-known brands of rubber sandals in Brazil and the world. However, when it was created, its product was completely different from what it is today.

In the past, it was a cheap, functional, but simple product.

There was nothing exceptional about Havaianas, except for the fact that they were affordable and lasted a long time: they met the customer's needs well and were a product intended for those with low purchasing power.

However, in 1994 the brand innovated and launched a special and different line: the Havaianas Top brought new colors, formats and models to its portfolio.

In this way, the company used the 4 Ps of Marketing and improved its product. We already know the results well.

It is worth noting that the price of the product has also changed and followed the new requirements.

Despite this, it has not stopped being consumed and valued by audiences with limited purchasing power, on the contrary. In fact, it is consumed by audiences with different incomes.

In the square tool, the brand diversified its points of sale so that different audiences had easier access to its product.

Havaianas' big bet on marketing mix It was in the promotion. The brand has always invested in commercials with beloved actors and fun scripts.

In this way, she managed to build her authority and awaken people's desire to consume.

Quality product, simple and functional;
Affordable price;
Different distribution and sales channels;
Investments in advertising campaigns that awaken consumer desire.

#Coca-Cola

Coca-Cola was created before the existence of 4 Ps of Marketing. However, the concept of marketing mix helps us to understand the desire that the brand awakens in people.

It has well-defined basic pillars, since:

Unique product with an unmistakable flavor;
The product is offered in different ways: cans, glass bottles and PET bottles;
Affordable price;
Physical sales on a global scale;
Invest in great campaigns to win over customers, without being invasive.

How to apply the marketing mix to my strategies?

The Marketing Mix is a simple strategy, but it should not be ignored. Each of the 4 tools is essential to stand out and maintain your target audience.

Therefore, it is important to study each tool individually and then apply them as a unit: one depends on the other. They are linked.

By applying this concept, the company discovers what is most important to the customer and, based on this, applies the necessary strategies to show them that their service or product has, or is, what they are looking for.

In other words, your product or service will solve the problem or situation that bothers you so much.

To apply marketing mixes to your strategies, keep some rules in mind.

First, your product needs to meet your customer’s needs and stand out from the rest.

The price of your product needs to be related to the company's revenue and investment capacity, and it can also define the public's view of your brand.

When a product adds a lot of value to a customer's life and brings benefits, you can charge more.

Furthermore, a price that is too low can generate distrust among consumers. On the other hand, a price that is too high can stagnate your sales.

You need to show the value of your brand to customers and win them over. However, it is important to have a balance when it comes to pricing. It needs to fit within market prices and be designed with your target audience in mind.

The square is linked to logistics, distribution channels and points of sale. You can diversify these channels according to the company's capacity and demand.

Think about where your customer is and which channels they prefer to buy through. Use the persona to discover details that can help you.

When promoting, define the ideal channels to promote your product or service. You can choose from many different alternatives and evaluate the performance of each one to see what works best.

To avoid problems, it is also important to think about your persona: Where are they? What content formats do they like to consume the most? What social networks do they use?

Conclusion

As you can see, this concept is very important to keep your product alive in the minds of customers.

The moment he needs it, he will know exactly where to find it.

Furthermore, the 4 Ps of Marketing are essential in different aspects for your brand, for example:

Segment target audience;
Price your product fairly;
Build your authority;
Position your brand efficiently;
Help you discover and present what sets your business apart;
Increase reach;
Deliver exactly what your customer needs.

Study each P and see how to align strategies with your customer's needs and your brand's goals.

Speaking of which, Instagram is a great tool to help you promote your product, and a good biography can help you have a more professional profile.

Read our text and Discover 25 Instagram Bio Ideas, with them you will be able to stand out from the rest and apply the marketing mix more easily.

Nara Sampaio

SEO writer, digital content creator, and virtual assistant. An introvert who found in writing a way to express herself and share knowledge!

October 31, 2022

Business