What Is Four Piece Of Marketing?

I believe what is actually meant by this question is 'what are the four Ps of Marketing' as this is one of the fundamental basics of marketing strategy and one of the first concepts you learn when studying marketing or any other closely related subject. Marketing, whether we like it or not, is a staple of everyday thinking for almost anyone that is involved in selling a product or service.

The Four Ps are:

Product - It is vital to know what it is that is being offered. For instance, a cell phone contract would likely include a free or substantially reduced cell phone, a fixed number of call time minutes, unlimited texts and/or internet access and insurance against theft or damage. Each of these elements are an equally valid part of the product being offered. Also included at this stage would be elements such as packaging, brand name and company logo.

Price - This is knowing the value of the product or service:

• Is it fairly and attractively priced?
• Is it competitive with the market research conducted against similar products?
• If it is not competitive, does it justify its value by being a superior product?
• Does the cost cover all overheads and leave a worthwhile profit margin?

Placement - This is to identify whether there is a market for the product or service, if there is an opening for it and whether the industry is saturated with similar products or services. If the marketplace for the product is saturated, it's vital that the product has a very strong unique selling point (USP). This is the stage where the target demographic is initially identified, and therefore knowing where to place the product, which bring us to

Promotion - There is no point in having a great product at fantastic value with a clear demographic if no one knows about it. This is where promotion is key to successful marketing. This isn't simply about whether to spend $100,000 on a TV advert or $20 on a small section in the classifieds, but rather about identifying the best value for the maximum response.

1. Product
2. Price
3. Place
4. Promotion

that's the 4 P's of Marketing.

In the field of marketing there are four basic elements that are common in all types
of products and services. The marketers mix and match these to create different
marketing mixes. These fundamentals start with the letter P and are called the
4 Ps of marketing. These are product, price place and promotion.
Product: This is the actual product or service that you are offering and has features
that have some value for the customer.
Price: The price of the product is set according to the target customers and their purchasing
power at a level to get the most benefit.
Placement: This has to do with the positioning, you promote your product and you create a
certain image in the customer's mind about the company ad the product and
service.
Promotion: In promotion, all the promotional tools like advertising, sales promotions,
discounts, sponsorships are included.

Product, Price ,Place , promotion