Introduction in 4 Ps .

Introduction in 4 Ps

Maybe you heard about ( Four Ps ) or maybe you saw it in some articles , If you interesting in Marketing so you should know what is Four Ps mean .

In the early 1960s, Professor Neil Borden at Harvard Business School identified a number of company performance actions that can influence the consumer decision to purchase goods or services. Borden suggested that all those actions of the company represented a “Marketing Mix”.
" Marketing Mix " is the division of groups to make a particular product, by pricing, product, branding, place, and quality. Although some marketers have added other P's, such as personnel and packaging .
Professor E. Jerome McCarthy, at the Harvard Business School in the early 1960s, suggested that the Marketing Mix contained 4 elements: product, price, place and promotion.

Product: The product aspects of marketing deal with the specifications of the actual goods or services, and how it relates to the end-user's needs and wants. The scope of a product generally includes supporting elements such as warranties, guarantees, and support.

Pricing: This refers to the process of setting a price for a product, including discounts. The price need not be monetary - it can simply be what is exchanged for the product or services, e.g. time, energy, or attention.

Promotion: This includes advertising, sales promotion, publicity, and personal selling, branding and refers to the various methods of promoting the product, brand, or company.

Placement (or distribution): refers to how the product gets to the customer; for example, point-of-sale placement or retailing. This fourth P has also sometimes been called ( Place) .

These four elements are often referred to as the marketing mix, which a marketer can use to craft a marketing plan.