Quick Definition

The Four Ps of Marketing is a framework used to enhance the components of the marketing mix—product, price, place, and promotion—which are controllable, but influenced by external conditions in the business environment.

Examples

• 1A company launching a new smartphone might set a premium price to signal high quality, distribute it through high-end electronics stores (place), and heavily advertise in tech magazines and online platforms (promotion).
• 2A coffee shop may introduce seasonal flavors (product), use competitive pricing to attract more customers (price), offer online ordering (place), and run social media campaigns to increase visibility (promotion).
• 3A clothing retailer might develop an eco-friendly clothing line (product), price items competitively to attract environmentally conscious consumers (price), sell them both online and in physical stores (place), and use influencer marketing to boost awareness (promotion).

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