The 4 Ps of Marketing

In any part of marketing, there are a few things that you need to keep in mind to be able to become a great marketer. There are different concepts, theories, and strategies that one can use to market their product better.

During my undergraduate studies, I briefly studied marketing management for a semester and learned a lot about consumer behaviour, marketing patterns, and pricing strategies. Among the first things I learned was the 4 Ps of Marketing: Product, Price, Place, and Promotion.

1. Product – What are you selling?

This is what you offer to meet customer requirements- it could be a physical item, a service, or even an idea. Think about:

• What makes your product special?
• Who would like it?
• Is it solving a problem (like being super thirsty in the summer)?

2. Price – How much will it cost?

The monetary part of a product, the price, should reflect its value, cover costs, and align with market expectations. Think about:

• What are others charging?
• Is your price fair for what you’re offering?

3. Place – Where will you sell it?

We have sorted out the product and price – basically, the what and why. Now we have to focus on where, that is, finding the right place to distribute and promote our products.

Think about:

• Should it be sold in person or online?
• Is it easy for people to get?
• Is the location attracting the right people?

4. Promotion – How will people hear about it?

You’ve got a great product, a fair price, and the right place — but what if no one knows about it?

That’s where promotion comes in. Tell your friends. Make posters. Post on WhatsApp groups. I suggest offering a free sample. Think about:

• How are you spreading the word?
• Are you using social media, word of mouth, or cool branding?
• What message will get people excited?

Marketing = Smart Storytelling + Strategy

When you mix the 4 Ps: Product, Price, Place, Promotion, you’re crafting a strategy that makes people want to buy from you. Understanding the basics helps in every way.