Four Ps

AAA

DEFINITION of 'Four Ps'

The categories that can be controlled in the marketing of a good or service: product, price, place and promotion. The four Ps, often referred to as the marketing mix, are all constrained by internal and external factors in the overall environment. Designs made in the "product" component determine the name, design and packaging of the good. "price" involves the cost of the good and if volume or seasonal discounts will be offered. "place" decisions outline where the product will be sold and how it will be delivered to the market. "promotion" involves advertising, public relations and promotional strategy.

INVESTOPEDIA EXPLAINS 'Four Ps'

The four Ps and the marketing mix were popularized in the 1950s by Neil Borden. Until the advent of the internet and greater integration between businesses and consumers, the marketing mix helped companies take into account the physical barriers that prevented widespread adoption of a product. Extensions to the Ps have include "people, "process" and "physical evidence" as important components in their models.

RELATED TERMS
  1. Comparative Advertising

    A marketing strategy in which a company shows how its product ...
  2. Law Of 29

    A belief held by some marketers that on average a prospective ...
  3. Marketing Mix

    Usually referring to E. Jerome McCarthy's 4 P classification ...
  4. Brand Management

    A function of marketing that uses techniques to increase the ...
  5. Product Placement

    A form of advertising (usually not involving ads) in which branded ...
  6. Big Data

    The growth in the volume of structured and unstructured data, ...
Related Articles
  1. Advertising, Crocodiles And Moats
    Professionals

    Advertising, Crocodiles And Moats

  2. How To Target Ideal Customers
    Professionals

    How To Target Ideal Customers

  3. The Lucrative World Of Third-Party Marketing
    Professionals

    The Lucrative World Of Third-Party Marketing

  4. 10 Breakout Ideas For Small Businesses ...
    Entrepreneurship

    10 Breakout Ideas For Small Businesses ...

Hot Definitions
  1. Gross Rate Of Return

    The total rate of return on an investment before the deduction of any fees or expenses. The gross rate of return is quoted ...
  2. Debit Spread

    Two options with different market prices that an investor trades on the same underlying security. The higher priced option ...
  3. Leading Indicator

    A measurable economic factor that changes before the economy starts to follow a particular pattern or trend. Leading indicators ...
  4. Wage-Price Spiral

    A macroeconomic theory to explain the cause-and-effect relationship between rising wages and rising prices, or inflation. ...
  5. Accelerated Depreciation

    Any method of depreciation used for accounting or income tax purposes that allows greater deductions in the earlier years ...
  6. Call Risk

    The risk, faced by a holder of a callable bond, that a bond issuer will take advantage of the callable bond feature and redeem ...
Trading Center