From the course: International Marketing Foundations

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The four Ps of marketing

The four Ps of marketing

From the course: International Marketing Foundations

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The four Ps of marketing

- A product is more than just a collection of parts. There is an important interplay between the product, the price, the place where you buy it, and the promotion of the brand. These are called the four Ps of marketing. You've likely heard of them before. You should not assume that consumers in the new market you're about to enter will see your four-P mix the same as people do in your home market. The first P, product, is listed first because it's the cornerstone of the marketing plan. When marketers talk about the product, they're referring to the physical, tangible components of the product as well as the brand promise. The next P is price. Price comes right after product because the price a company places on a product plays an important role in the perception of the brand. Now we come to the third P, which stands for place. In essence, it refers to where the consumer can acquire the product. Finally, the last P stands…

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