What are the Four Ps of Marketing?

The 4P marketing theory comes down to a combination of four basic strategies, namely Product, Price, Place, and Promotion. Since the English prefix of these four words is P, plus Strategy, so called "4P's"

4P marketing theory

4P marketing theory (The Marketing Theory of 4Ps), 4P theory originated in the United States in the 1960s, with the advent of marketing mix theory. Neil Borden in the United States in 1953

4Ps marketing theory actually studies marketing issues from the perspective of management decisions. From the perspective of management decision-making, various factors (variables) that affect the marketing activities of an enterprise can be divided into two categories: first, the uncontrollable factors of the enterprise, that is, the market that the marketer itself cannot control; the marketing environment, including the micro environment and macro Environment; the second is controllable factors, that is, products, trademarks, brands, prices, advertisements, channels, etc. that marketers can control themselves, and 4Ps is an induction of various controllable factors:

Research on marketing from the perspective of corporate marketing functions was concentrated before the 1930s. Arch Shaw, 1912

Product: What is the performance of the product? What are the characteristics of the product? What is the appearance and packaging of the product? What is the service and warranty of the product?

Price: Is the reasonable profit of the enterprise and the price acceptable to the customer considered? Is the pricing consistent with the company's competitive strategy?

(3) Promotion: How can companies pass product information to consumers through advertising, public relations, business promotion, and sales promotion to promote the achievement of consumer behavior?

Distribution: through which channels are products sold? How can products be delivered to consumers?