What are the 4 PS marketing? The marketing mix explained (example)

If you have worked in marketing for a long time, the four horsepower of marketing seems to be a relapse. They are a bit, but I’ve been working in marketing for over a decade, and some things never change.

The four horsepower of marketing are still fundamental. Those who have studied marketing in college will probably know the advantages and disadvantages of the four horsepower and marketing mix. However, if you are not familiar, let me introduce me to the marketing mix.

The four HP includes the product, price, place and advertising.

In this article I sketch your role in marketing, including your history and development, examples and the use of the four horsepower, to create effective marketing.

Table of contents

What are the 4 PS marketing?

The four horsepower of marketing are the product, price, place and advertising. These are the key factors when marketing a product or service. They take into account the four horsepower if you create strategies for marketing, advertising, advertising and positioning your product or brand.

The four HP helps marketers to take everything into account through a product or a service if you decide how to market it for your business. If you frame your marketing for the Four PS, you can learn what the competition is doing and what customers want from you.

The history of the 4 PS Marketing

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It may feel new and trendy, but marketing is already available for long. When I examined the history of the 4 HP, I found some articles that were over 1,000 years ago as part of the exchange system from marketing from marketing, in which people exchanged and exchanged objects.

The four horsepower of marketing are a relatively new concept. E. Jerome McCarthy presented it in his book Basic marketing: a management approach. McCarthy’s introduction of the 4 hp in the 1960s was in time. Marketing changed, and McCarthy used the 4 PS marketing and took into account the effects of e-commerce on marketing strategies, which emphasized the lessons from successes and failures. He examined new prospects of Customer Relationship Management (CRM) and focused on the costs of customer authorization, acquisition and storage.

The world changed and marketing had to adapt.

I think it is fair to say that the digital world has not stopped changing since the 1960s, especially from the 90s, and that marketing has not stopped adapting.

In order to stay that way, some have adapted the four horsepower and turned them into the seven horsepower.

4 PS Marketing Plus 3: The 7 PS Marketing

The seven horsepower of marketing are a continuation of the four horsepower. Are included in the seven horsepower:

• Product.
• Price.
• Location.
• Financial support.

As well as:

• People.
• Procedure.
• Physical evidence.

The continuation of the four HP contains other elements that improve the marketing foundations.

• People Are those who launch the product. This includes sales teams and customer service staff. In modern marketing, it could also include influencers and brand lawyers (customers who sell their product for you).
• Proceedings Is the “P” that she asks you to look at your operations. How quickly can you send products, do you have enough shares, etc.?
• Physical evidence is particularly important in a digital world. People buy brands online and sometimes stumble across their marketing before they know that the brand exists. With this customer trip, brands must provide physical evidence that they are trustworthy. Think about reviews, pages, company addresses and more.

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The 4 PS marketing compared to 4 CS marketing

Understanding the four horsepower of marketing helps to understand the other parts of the marketing mix, namely the four CS of marketing.

The 4 CS of marketing include:

• customer
• Cost
• comfort
• communication

I think of the four CS as an inversion of the four horsepower. Instead of being product -oriented, they are customer -oriented.

• The customer Is the person you sell and everything that is connected to the purchase trip through your lens: the customer trip, why you need the product or service, and the emotions you feel on the way to buy.
• Cost (For the customer) is a more emotional way of looking at marketing. The costs take into account the total value perception and effort from the customer’s point of view, not just the cash prize. Ask yourself how customers go feel About the price. How can marketing encourage you to separate yourself from your hard -earned money?
• comfort Refers to how easy it is for the customer to buy and maintain the product. Is the website easy to use, the product in stock and the purchases and delivery quickly?
• communication is a mutual interaction; This is not just about calling your product or services to the masses. Instead, aim with your audience, react to feedback and understand what your customers tell you.

The four CS and the four HP support each other. If you think about the marketing strategy, it helps to take both into account. Ponder:

• Customer and product.
• Price and costs.
• Place and convenience.
• Advertising and communication.

Helps to think about marketing from all perspectives. For me, this only increases my marketing.

How to use the 4 PS Marketing Mix in your strategy

You can use the four HP to answer questions about the product, price, place and advertising of your product or service.

For example, you can ask yourself:

• product – How does your product meet your customer’s requirements? What problems solve it? What unique value or what functions do it offer?
• Price – What is the value of your product? What do my competitors calculate?
• Location – Where are customers looking for your product?
• Financial support – How can you distinguish your product from competitors? Where can you reach your audience?

Always consider the needs and preferences of your target group. Ultimately, your product, its price, its sales location and its advertising strategies should address your customers the most.

If you think about your marketing in relation to the four horsepower, you can help strategies to achieve your customers. The 4 PS Marketing is also known as your marketing mix – more on this below.

To develop a marketing mix, you have to think about how you can position your brand in a unique position in the competition. The most important part of thinking about the marketing mix – or the four horsepower of marketing – is to understand the customer, the competition and your company. You will evaluate your product and how to apply it.

But getting started is not easy. For this reason, we have created the ultimate collection of Marketing Mix templates with which you can visualize your marketing mix and share it with your employees or investors. Use the templates to organize your initiatives and activities in the right section.

Selected resource: Marketing -Mix templates

Click here to download the templates for free.

Use the template to follow the 4 PS marketing below.

The 4 PS Marketing (example)

1. The first P of marketing: product

If you think about your product, consider exactly what you sell. Is it a specific product? Or is it a service? Your product can be a physical product, an online app or service such as house cleaning. Really, everything you sell is the product.

Then think of your brand messages, the services you offer and even packaging. If you define your product, consider which problem your product will solve for your customers. Think about how your product differs from competing products. Which functions are unique for your product?

It is important to know your product exactly so that you can market it.

Product example

I will use Drift Kings Media’s Marketing Hub as an example.

What is that? “Marketing automation software with which you attract the right audience, convert more visitors to customers and can carry out complete inbound marketing campaigns on a scale-on a powerful, user-friendly platform.”

Who is it for? Modern marketers who juggle too much data and capture with impossible software solutions that make their work more difficult and not easier.

What functions does it have? Marketing Hub offers blogging, SEO, social media management, e -mail marketing and advertising tracking in a single, intuitive platform.

Which problem solve it? Marketing Hub simplifies the marketing automation process for busy marketers by bringing all data and tools under one roof.

Pro tip: As soon as you have set up your product and your messages, you can monitor the marketing success Drift Kings Media’s Marketing Hub. You can see your customers’ full trip and how any interaction has contributed to the fact that your audience from Prospect leads to the buyer. You can analyze message and commitment rates to determine whether your expectations meet your customer’s requirements.

For example, if you have described the most important functions for your users correctly, these are the most committed functions. With your analysis, you may find that other functions are more interested in the specific audience. As soon as you have received data, you can turn strategy or take care of what works.

2. The second P of marketing: price

When it comes to price, you have to consider how much you will invoice customers for your products or services. Of course you have to make a profit.

If you develop your price strategy, you also have to think about which competitors are calculated for the same product or the same service and how many customers are willing to pay. You can also think about which discounts or offers you can use in your marketing.

If you choose a price, you would like to think about perception. Would you like to be known as an inexpensive option in your industry? Or maybe you are a luxury brand and the price is slightly higher than the competition on the market. Note that the pricing of SaaS products is somewhat different from the pricing of physical products.

In any case, the language with which you market your product will be badly affected by the price of your product.

Ps you can Download a sales calculator for sales prices for free.

Price example

Marketing Hub is inexpensive to grow with them while they grow.

HubSpot offers the following subscription stages:

• Free: $ 0/month
• Starter: $ 20/month per seat
• Professional: $ 890/month (3 seats included)
• Company: $ 3,600/month (5 seats included)

Pro tip: The price of your product must be desirable and effective for the business for customers. With Drift Kings Media’s Marketing HubYou can measure the campaign success and identify the KPIs that best support your company and represent the goals you want to achieve. For example, you can measure the success of a campaign, the number of leads and purchases and the conversion rate measurements.

3. The third P of marketing: place

When it comes to space, this could mean the physical location of your company, but it could also be defined wherever you sell your product, which is possibly online.

Market and distribute your product in the place.

Remember that not every place makes sense for every product. For example, if your target market is a senior citizens, it does not make sense to market on Tikkok. It is important to choose the right places to market your product and meet your customers where you are.

Think of possible sales channels and sales outlets with which you can sell your product. Be sure to take into account whether your company is B2B or B2C.

At this point you have to think about how to market your product on all the different channels that make sense for your company.

Example give example

As a provider of SaaS products, HubSpot Marketing Hub offers directly on his website.

Marketing Hub can register for marketing by creating an account directly on the platform. Drift Kings Media also created a comfortable Registration page For free subscriptions or customers, your friendly sales team can request a demo.

4. The fourth P of marketing: promotion

Promotion is the bread and the butter of marketing. This is the time when you think about how you can publish and apply your product.

They also discuss brand messages, brand awareness and lead generation strategies.

When it comes to promotion, it is of the utmost importance to keep communication in mind. What messages are resonance in your target market? How can you best apply for your product for you?

Think about where, when and how you will apply your brand.

Order example

When promoting the marketing hub, Drift Kings Media must be wherever his target group (marketer) is. The most important thing is that we want to help you grow in your career – and to expand your business.

Drift Kings Media makes a lot of inbound marketing and its advertising mainly focuses on organic acquisition. The marketing hub will find marketers in the following channels:

Pro tip: Drift Kings Media’s Marketing Hub Helps you analyze the performance of every marketing assets or tactics. You can measure how different placements worked. For example, if you find that a certain asset generates leads, you can inform this asset about the entire marketing. Or you think that your Instagram efforts are superior to TikTok. With such results you can make data -controlled decisions about the steps you should take next to effective marketing.

The 4 PS marketing examples: Apple and eleven Cosmetics

Let us break down the 4 PS marketing by watching examples of Apple and eleven Cosmetics.

Apple

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• Product: iPhones, macs, iPads, Apple Watch, Airpods, software and services (ie, Apple Music, Apple TV, iTunes, etc.).
• Price: Apple products are often rated at the top of the market. The brand houses first -class pricing due to its call for innovation, quality and design.
• Location: Consumers can buy products online and in retail stores. Apple products are sold worldwide and have a significant global market presence.
• Financial support: Apple focuses on cultivating a committed and loyal consumer base. Your marketing campaigns strengthen the idea of ​​being part of an “Apple ecosystem”. As soon as users buy a product – like an iPhone – choose other Apple products such as MacBooks, iPads, Apple Watches and more. This ecosystem promotes deep brand loyalty. This feeling of loyalty is evident in its product launches, which is a must in the tech industry.

Eleven cosmetics

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• Product: Elf offers a comprehensive selection of make -up and skin care products, brushes and beauty tools.
• Price: One of the main value statements of eleven is his affordability. Many of their products have a low price, which makes the brand accessible to a wide range of consumers. The lower price distinguishes it from other brands in the beauty area.
• Location: Eleven products are widespread in drugstores and big boxing dealers such as Target and Walmart. It also has a strong online presence that sells products directly via its website and other online retailers.
• Financial support: As a Challenger brand in the beauty area, eleven tries to establish itself as a recognizable and reliable option in the drugstore and beyond. The brand is proactive on social media, including TikK, Instagram and YouTube to deal with younger demographic data. In addition, your campaigns often contain user -generated content to promote a sense of community with your audience.

Back to you

Although marketing has changed a lot Since the four horsepower were developed, the basic elements of the industry do not have. You can use the concepts of Marketing Mix to create profit marketing strategies with which you start and promote your company’s products.

If you are something like me, you will probably find that the four horsepower of marketing are part of your strategy before you knew what you were. It is intuitive and fundamental to weave elements of four horsepower in marketing.

However, a awareness of the four horsepower and the marketing mix can only help your strategy. Note them every time you plan marketing.

Note from the publisher: This post was originally published in October 2020 and updated for completeness.