The four Ps of the marketing mix are product, price, place and promotion.First popularized in the 1950s by Neil Borden, who was the president of the American Marketing Association, the four Ps are constrained by the internal and external factors of the overall environment. But they all work together, and they provide marketers with a tool to guide their strategies. Product includes the name, design and packaging of a good or service. A product is branded and typically tangible. It satisfies a need and provides an experience. Price entails a product’s cost. Considerations include discounts and seasonal pricing, as well as bundling and other pricing strategies. Place is about delivering a product. Place decisions specify where and how consumers will find the product or service. And promotion involves advertising, communications and public relations. What should the marketing message be, and how should it be conveyed? The goal of promotion is to entice a consumer into making a purchase. The 4 Ps have undergone revisions over the years, especially in light of improved technologies like the Internet, which affords businesses greater opportunities to communicate with consumers. As organizations have grown and diversified, their marketing has, too. Extensions to the 4 Ps model have included components such as people, process and physical evidence. Still, the original concept continues to help marketers deal with barriers that prevent the widespread adoption of their products.