Marketing Mix (4Ps)
The four key elements of marketing strategy: Product, Price, Place, and Promotion.
Also known as: 4Ps of marketing, Marketing 4Ps, McCarthy's 4Ps
Category: Frameworks
Tags: marketing, frameworks, strategies, businesses, planning
Explanation
The Marketing Mix, or 4Ps framework, provides a structured approach to marketing strategy. Product refers to what you're selling and its features, quality, and design. Price covers not just the number, but pricing strategy, discounts, and perceived value. Place is about distribution—how and where customers access your offering. Promotion encompasses all communication: advertising, content, PR, and sales. These elements are interconnected; changing one affects others. A premium product (Product) requires premium pricing (Price) through selective distribution (Place) with sophisticated messaging (Promotion). For creators and knowledge workers, the 4Ps framework ensures you've thought through all dimensions of your offering, not just the product itself.
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