The Marketing Theory of 4Ps
2021-07-01
The Marketing Theory of 4Ps, 4P theory was born in the United States in the 1960s, and emerged with the introduction of marketing mix theory. In 1953, Neil Boden coined the term "marketing mix" in his inaugural speech at the American Marketing Association, which means that market demand is more or less affected by the so-called "marketing variables" or The influence of "marketing elements".
In 1960, Professor Jerome McCarthy of Michigan State University in the United States generalized these elements into four categories in his book "Basic Marketing", namely products, prices, channels, and promotions.
In 1967, Philip Kotler in the first edition of his best-selling book "Marketing Management: Analysis, Planning, and Control" further confirmed the marketing mix approach centered on 4Ps, namely:
Product
Pay attention to the function of development, require the product to have a unique selling point, and put the product's functional appeal in the first place.
price
According to different market positioning, formulate different price strategies. The pricing of products is based on the company's brand strategy and pay attention to the gold content of the brand.
Channel
Enterprises do not directly face consumers, but focus on the cultivation of dealers and the establishment of sales networks. The contact between enterprises and consumers is carried out through distributors.
Propaganda
Many people interpret Promotion as a "promotion" in a narrow sense, but it is actually very one-sided. Promotion should be a series of marketing activities including brand promotion (advertising), public relations, and promotion.
