Four ps of marketing — you might have heard about them from a friend, a textbook, or even at school.

I know that it sounds like a boring topic that you are probably familiar with, but there is more to it than meets the eye.

No, that is not only for large companies. You are much smaller, but it is still important that you leverage the 4 Ps of marketing.

So, before we dive into all the details, let’s first explain what they are.

What Is The Fourth P of Marketing?

The 4 pillars of marketing is a marketing concept that summarizes the four pillars that must be included in any marketing strategy.

There are four Ps of marketing that you should be aware of:

  • Product: What you sell. That can include physical goods, services, consulting, etc.
  • Price: How much do you charge and how does that impact how your customers view your brand?
  • Place: Where do you promote your product or service? Where would your ideal clients go to get more information about your industry?
  • Promotion: How do your customers find out about you? What kinds of strategies are you using, and are they effective?

That sounds simple, but in fact it is very simple. The hard part is implementing the four pillars of marketing. We will get to that in the next section.

The theory behind the four ps of marketing is that if all four ps are covered, it will result in more sales. Unfortunately, things are not always that easy.

4 ps of marketing visualization

The origin of the concept, also known as marketing mix, goes back to 1960 when McCarthy introduced it in his book Basic Marketing: A Managerial Approach.

The 4-PS-marketing mix still holds true today.

So, let’s dive into the concepts and look at four different examples of marketing in order to understand how you can use these to your own business.

That is the first part of marketing: it is the product.

The product that the company sells.

There might also be a product that they manufacture, for example, a soft drink for the beverage industry, or dresses from a clothing store. Or these days it may even be software like Ubersuggest.

Ubersuggest example 4ps of marketing

Other kinds of services are possible, like consulting, paid speaking gigs, or even therapy sessions.

A product is anything that is made available to the consumer.

When you are running the 4 ps strategy, you need to understand what customers want and what they are willing to pay in order to be different from your competitors and win over customers.

What is the reason why your product is so great and unique? Because if you don’t stand out, it will be hard for you to succeed.

So, you may be aware of my Ubersuggest product, but you might also know a handful of competitors.

So what is the big deal that makes my product unique from everyone else?

I do not prioritize features, and I also do not have 100s of reports. I am focusing on usability. I am determined to make Ubersuggest really easy to use, especially if you are new to marketing.

On the flip side, the competition is centered on ad agencies and really advanced marketers. I have built something for a different market, even if I am in a market that is very crowded.

How can I produce something that is amazing that my customers absolutely love?

I am going to tell you to do something simple. Go to Hotjar, signup for a free account, and run a poll. As with the one below, it is as easy as the one below.

poll example for the 4 ps of marketing

I have been running polls for a while, but if you are new, I would invite you to start asking open-ended questions like:

  • What is the biggest problem that I can help you solve? It will help you figure out what your product needs to do.
  • Which marketing product do you think is your favorite? And why do you think it is? You’ll also need to replace “marketing” with the name of the industry you are in. This is to help you know who your competitors are and what they are doing right.
  • Why are you here today? That will tell you why people visit your site and what they are searching for.
  • How can we improve the quality of our products? It is good for you to launch your product if you have one, as you will get real feedback on your product.
  • What do you not like about competitor abc? Then, replace the abc (which you must use) with the name of your competitor. That question identifies the opportunities for you.

I urge you to pay close attention to the last question. It can help you recognize what you can do to differentiate yourself from your competitors.

Now, before you begin to build your own product or change your existing product, do not invest too much time and money to get feedback.

If I were going to add some new feature to Ubersuggest, I certainly wouldn’t just build it. I would get it designed, show you first, get feedback, and then adjust from there.

You won’t waste months of time building a product that you do not intend to use.

Another aspect of marketing that you must take into consideration is price.

The price that you charge for your product or service is very simple.

It’s simple to understand, but it can be difficult to come up with the “right” price. It is the one that not only drives most sales but also the one that drives the most profit.

Really, the question is, how do you want people to perceive you?

Amazon wants to become the place to get high-quality products, ranging from A to Z. Is that right? And of course, delivered quickly.

My buddies’ company, Imperia Caviar offers high-end caviar at low prices. He is able to buy the same caviar that big brands charge thousands of dollars for.

caviar 4 ps of marketing example

Some people might think that having a cheap price means that he is trying to weaken his brand, but instead, it is bringing transparency to the market and educating people on how caviar isn’t really expensive. It’s really just a marketing ploy.

I take the same approach as Ubersuggest. I am not sure that marketing software or education should be very expensive. So I give a lot away for free or super cheap.

Do you think my brand has been affected by that? Or, have you harmed it? Now let’s look at some data.

trends 4 ps of marketing price example

I would guess not. 🙂

On the flip side, if Ferrari was being sold for $10,000, would the Ferrari brand really exist? Maybe not.

How do you decide on the right price for your product?

I am by no means an expert in pricing, so I don’t want to tell you what prices you should price your product.

I will tell you to read the Price Intelligently blog. They know everything about pricing like they know the back of their hand. There are dozens of articles that teach you exactly how to price your products.

It’s important to think carefully about the pricing of your services, especially if you are in crowded spaces. I always tell you this: If you are in a new space or if you are already a leader, you can charge a premium amount.

If your space is already full and you are late to the market, you will likely want to get a cheaper price, if not the cheapest price.

Some questions that you should ask yourself are the following:

  • What would be the lowest price that you would accept for selling your product?
  • What is the highest price that people are willing to pay?
  • How sensitive are your customers to the prices?
  • What are the prices that the leaders of your niche charge?
  • How does the price of your products compare to the products of the competition?

The third piece of marketing that you must do is place.

A place is another word that is used to describe a location.

When it comes to marketing, they always say it’s all about location, location, location.

One time I was running a tech conference in Los Angeles. That conference was called Twiistup.

twiistup 4ps of marketing example

The event that took place last night was very cool. There were many celebrities there and they also sent their vibes. I did not create this event. I bought it years ago.

But you know something, do you not? So it failed.

It wasn’t because the event itself wasn’t bad. It was more that I moved it to a very dangerous place.

That is why I moved the team from Santa Monica, the center of the Los Angeles tech scene, to the valley. It is an hour’s drive from there, from where all the tech companies are located.

That means location, location, location.

You must choose a location where your customers are. Don’t expect them to come to you, you have to go to them.

How do I pick the right area?

The internet is a virtual world. Although some people may think that the location is irrelevant, it really isn’t.

Just think of it this way… if I put my company all over Tiktok, what do you think would happen?

Well, I wouldn’t generate any new clients for my ad agency because none of my ideal customers are on Tiktok.

tiktok 4 ps of marketing example

Do you think a bunch of 16 to 24-year-olds are looking for marketing services? If we were offering some help with helping you get more social followers, sure, but we are not offering that.

Think of the platforms and places your ideal customers are and be there.

There is an online venue that might be as important as Google or an offline venue like conferences. Do not try to bring your customers to you. Instead, go where your customers are because it’s much easier to do that.

I want you to ask some very simple questions in order that you can find the right place.

  • Where is my customer?
  • Which stores both online and offline sell your product?
  • Which channels are the most frequently used to distribute your goods?
  • Do you sell goods directly to businesses or consumers?
  • So, what are you selling direct to end users? Do you need to go through middlemen?
  • Where are your closest competitors?

It is important that your customers remain at the center of your decisions, but it is also important that you incorporate the other Ps that we discussed previously.

The Fourth P of Marketing: Promotion

My favorite thing to do is to promote myself. I tend to write most about that.

After you’ve optimized the previous three phases of marketing, it is now time for you to promote your offer.

Let me make it clear, when I talk about promotion, I am not just talking about getting your brand out there. What I am talking about is generating revenue.

So what’s the purpose of promotion if you cannot drive sales?

It seems that there are lots of channels out there, so which ones do you start with first?

Well, I want you to go here and put in your competitor’s URL.

traffic analyzer for the 4 ps of marketing

When your companies are big, you’ll see how much traffic they are generating, which keywords they rank for on Google, the sites that link to them, and the people that talk about them. You’ll also see how many social shares they are generating.

If the data that you gather is small, you likely will not see any data. You will need to put in a bigger competitor.

There is another website that you should use that is similar. Put in their URL, and you will see tons of data about how they promote themselves.

similarweb example for 4 ps of marketing guide

What I really enjoy about the web today compared to when I first started working online marketing, is that there are tons of tools that can help you get your work done. So use all those blessings to your advantage. 😉

How can you promote yourself?

You should start by asking yourself these questions:

  • Which channels do your audience use the most in order to consume information?
  • What kind of message is more effective when you promote your solutions?
  • When is the best time to promote your product?
  • Is it not true that there is any concern about seasonality?
  • How are your competitors planning to promote themselves and execute their promotions?

Again, you can use the tools that I have mentioned above to get a jumpstart on your business. Another thing I would highly recommend is that you look at Facebook’s ad library.

fb ad library 4 ps of marketing guide

It will show you the ads that your rivals are running and, more importantly, the messages that they use.

When it comes to advertising your business, I will not bore you to death with tons of information, because I have a lot of blog posts on that. So I would start with this:

  • The most popular way to market yourself online is through online marketing.
  • SEO
  • Social media is a very important tool for our lives.
  • There are Google ads.
  • You can see Facebook ads.
  • Affiliate marketing is very important.
  • Content marketing is also known as content marketing.
  • Email

The 4 pillars of marketing is a marketing concept that summarizes the four pillars that must be included in any marketing strategy.

  1. What Is The Fourth P of Marketing?

    Product: What you sell. That can include physical goods, services, consulting, etc.
    Price: How much do you charge and how does that impact how your customers view your brand?
    Place: Where do you promote your product or service? Where would your ideal clients go to get more information about your industry?
    Promotion: How do your customers find out about you? What kinds of strategies are you using, and are they effective?

  2. That is the first part of marketing: it is the product.

    The product that the company sells.
    There might also be a product that they manufacture, for example, a soft drink for the beverage industry, or dresses from a clothing store. Or these days it may even be software like Ubersuggest.

  3. Another aspect of marketing that you must take into consideration is price.

    The price that you charge for your product or service is very simple.
    It’s simple to understand, but it can be difficult to come up with the “right” price. It is the one that not only drives most sales but also the one that drives the most profit.

  4. The third piece of marketing that you must do is place.

    A place is another word that is used to describe a location. When it comes to marketing, they always say it’s all about location, location, location.
    -Here are some simple questions that you should ask yourself, so you can find the right place to put your money.
    -Where is my customer?
    -Which stores both online and offline sell your product?
    -Which channels are the most frequently used to distribute your goods?
    -Do you sell goods directly to businesses or consumers?
    -So, what are you selling direct to end users? Do you need to go through middlemen?
    -Where are your closest competitors?

  5. The Fourth P of Marketing: Promotion

    After you’ve optimized the previous three phases of marketing, it is now time for you to promote your offer.
    Start by asking yourself the questions that are the following:
    Which channels do your audience use the most in order to consume information?
    What kind of message is more effective when you promote your solutions?
    When is the best time to promote your product?
    Is it not true that there is any concern about seasonality?
    How are your competitors planning to promote themselves and execute their promotions?

Conclusion

The 4 Ps of marketing may seem boring, but they are essential to creating a successful marketing plan.

Without them, you will not be able to distinguish yourself from your competitors.

No one cares about another company that is one of the Me Too companies. We all want to have something unique, something special that resonates with us.

How do stand out from your competitors? Leverage the power of the Four Pillars of Marketing.

How can you leverage the 4 P’s of marketing? Is it helping you to make more profits?