文章：Although the 4p’s are key factors for entrepreneurs to analyse their marketing strategies and represent the common rules for the world which is based on business activities,it still has low awareness among citizens.This essay will start with a brief introduction and evaluation to their birth combined with marketing mix.The second to fifth paragraph will talk about their real effects in business and this essay will be concluded by the classic concept’s contemporary dilemma.
Generally,the 4p’s are production,price,promotion,and place.The 4P’s of marketing is a model for enhancing the components of your"marketing mix".Through this way,you take a new product or service to market.It helps you to define your marketing options in terms of price,product,promotion,and place so that your offering meets a specific customer need or demand(Borden,1964).Marketing mix is carried out through the 4p’s mostly and a reliable way to understand what the product and service can offer(Martin,2014).Essay writing service on www.lxws.net.Since marketing mix is the foundation of the enterprise marketing strategy and works efficiently to satisfy the consumer needs in general,the 4p’s are concertizing this concept and making it easy to understand as well.
Product is the first element of the four,because it is the basis.An efficient marketing should fulfill the consumer needs and minimum the waste of time and money.Marketers are also required to be familiar with the life cycle of products to be completely successful in this comprehensive and competitive business world.
Price is the cost consumers pay for a product.No one can long make a profit producing anything unless the customer makes a profit using it.(Pettengill,1930).It is pretty dramatic because price is the only one of the 4p’s of marketing that emphasizes revenue rather than expense.It includes discounts,allowances and incentives,and strategies like penetration pricing or skimming.It helps to create the marketing structure by evaluating the demand from consumers.
Promotion is activities done in order to improve the sales of a product,like advertising or media selection.Not only large-scale enterprises but also many family businesses ought to pay attention to this.This element focuses on communicating with your customer.Small-scale businesses usually focus on promoting their products or services with limited resources,which contributes to the ignorance to promoting their brands.For international companies,the methods for promotion is various,but for family or sole trader companies with less money and manpower,the equitable allocation of investments between production and promotion counts.
Place focus on getting product to your customer.It includes warehousing,fulfillment,electronic download,shipping,middlemen.No matter small or big,delicacy or sloppy,business always needs some place to happen.Also,a good place gathers potential and current customers,competitors and other sectors.Place should also be linked to the target customer group.
To be concluded,Marketing is simplistically defined as‘putting the right product in the right place,at the right price,at the right time.’The 4p’s are always helping marketers with tough rocks like how their product or service meets or fails to meet those needs,what is a proper price,where to hold the business and how to defeat their competitors.However,since the booming of electronics technology and Internet,more traditional large-scale manufacturing enterprises are replacing by network companies and other modern companies.So the‘right product’and‘right place’seems to be harder to get.It’s time that we should jump out of the box and find the 4p’s a modern way for annotation.