Marketing and the 4 P’s
Elena Rakanovic, Barbara Perkovic, Ana Koceic
Introduction to Marketing
• Definition: Marketing is the strategic process of creating,
communicating, delivering, and exchanging offerings that
have value for customers.
• Importance: Essential for businesses to connect with
customers, create brand awareness, and drive sales.
• Components: Involves understanding customer needs, market
research, and developing effective strategies.
The Marketing Mix (4 P’s)
• Definition: The marketing mix, also known as the 4 P's, is a
strategic framework guiding marketing decisions.
• Purpose: Aims to balance the elements to meet customer
needs and achieve business objectives.
• Versatility: Applicable to various industries and business
sizes.
Product (P1)
• Definition: The product refers to the tangible or intangible goods
and services offered by a business.
• Key Points:
• Features: Highlight unique attributes and functionalities.
• Benefits: Emphasize how the product satisfies customer needs.
• Design: Showcase the product's aesthetic and functional design.
• Quality: Address the level of excellence in manufacturing or service
delivery.
• Branding: Discuss the importance of a strong brand identity.
Price (P2)
• Definition: The price is the amount customers pay for a product or
service.
• Key Points:
• Pricing Strategy: Explore various pricing models such as cost-plus, valuebased, or competitive pricing.
• Discounts: Discuss strategies for offering discounts and promotions.
• Payment Options: Include flexibility in payment methods to enhance
accessibility.
• Perceived Value: Highlight how pricing relates to the perceived value of
the product.
•
Place (P3)
• Definition: Place involves making the product available to the customer through
distribution channels.
• Key Points:
• Distribution Channels: Discuss the various channels, such as retailers,
wholesalers, and direct sales.
• Accessibility: Ensure the product is conveniently available where the target
audience shops.
• Supply Chain: Highlight the importance of an efficient supply chain for timely
delivery.
• Geographic Reach: Consider the global or local reach of the distribution
strategy.
•
Promotion (P4)
• Definition: Promotion includes activities to increase awareness and
encourage customer purchase.
• Key Points:
• Advertising: Explore different advertising channels like digital, print, or
broadcast.
• Public Relations: Discuss strategies to manage the brand's public image.
• Social Media: Emphasize the role of social platforms in modern
promotional strategies.
• Sales Promotions: Showcase examples of effective sales promotions.
The end
• Thank you for your attention! 