The 4 P’s are listed below:
- Product: anything sold for profit
- Price: the monetary value charged in exchange for a good or service
- Place: the geographical area where a product is available
- Promotion: advertising, social media marketing, public relations and media placement
Another model that can be used is the 4 C’s, which takes the elements of a marketing mix and places them within the buyer’s perspective instead of the seller’s. Below is the list of the 4 C’s next to their 4 P’s equivalent.
- Customer needs and wants (Product)
- Cost (Price)
- Convenience (Place)
- Communication (Promotion)
A marketing campaign is more likely to be successful if all of these are integrated the right way. Together, these influence the actions a company takes to promote their products and reach their target audience.