Understanding The Marketing 4 Ps in Theory:

Today’s strategic marketing approach usually requires a well-balanced variety of tactics and focus to extract value in today’s competitive brandscape. Since the beginning of commerce, researchers and theorist began constructing concepts, theories and models to simplify approaches to the marketing mix. Depending on your marketing background, you may have come across a number of different models that aim to provide the essential ingredients for constructing a successful marketing plan.

Two popular theories revolve around a number of Cs and Ps – the exact number often changing depending on which theory you’re viewing. One of the most popular theories was generated in the 1960’s by professor E. Jerome McCarthy that suggested the appropriate elements included marketing 4 Ps; product, price, placement, and promotion. Later, the marketing 4 Ps became 7 Ps to address service-related industries, which added; process, physical evidence, and people. However, let’s keep it simple by focusing on the original theory.

Are you focusing on any marketing 4 Ps in your marketing mix?

More recently, the P’s have been changing to C’s, and if you stick with the 4-mix model, you end up with; consumer, costs, convenience, and communication. Essentially they are the same 4 elements, but modernized to be more customer-centric, rather than product-centric, as we began to see a shift in the command and control market during the information age, whereas consumers began to participate in extensive research before a buying decision is reached.

At Strategic MMC, we like to be PC…so we ask questions related to both the 4 P’s and 4 C’s of marketing. One of the first things we like to ask, is which P/C do you want to focus on first – and why? Of course, we have a slightly ulterior motive for asking, other than getting things rolling. Why? It’s because your answer begins balancing your strategic profile, and we are able to better understand what part each P will play in your portfolio and how each part factors into your overall brand-image.