4 P’s of the Marketing Mix

Written by: Sarah Johnson

These 4 handy P’s are the bare bones of your brand. Once you know ‘em, your business will have legs to run, arms to reach, and a steady hand from which every decision will be made.

1. Product

 What do you sell? Whether you walk dogs or make a mean cup of coffee, your product is what connects you with your customer. That means you need to fully understand what you’re selling and what makes it uniquely yours.

2. Price 

 How much will it cost? If you’re planning on making any money, you should probably put a price tag on that product you perfected in the first P. You need to know how much the product costs you, how much profit you want to make on top of those costs, and the role your price will play in your marketing mix. Price says a lot about your brand, so make sure it’s saying what you want it to.

3. Promotion 

 How will you sell it? So you’ve got a killer product and a set price, now you need to decide how you’ll get the word out. A social media campaign? An ad in the local paper? A snappy video? The sky's the limit here, but make sure whatever promotional tactic you use communicates your brand through and through.

4. Place 

 Where will you sell it? Whether it’s an online store or the little shop on the street corner, you need to decide where customers can buy your product or service. This will all depend on - you guessed it - the first 3 P’s of your marketing mix (and those P’s will depend on Place just the same). Make sure to think about your target customer and where they will most likely buy your product. Don’t wait for them to find you - put your product so close to their noses that they run right into it.