WHAT IS 4P?
Today, many sectors are growing and developing rapidly. With the changing age, the ease of access to products and services increases and it facilitates the comparison of these products / services. As a result, the increase in 'competition' has become inevitable. With this increase, companies have started to need stronger marketing strategies and to meet this need, the principles of marketing have been adopted. The so-called '4P' concept has become indispensable.
Introduced in the 1960s and popularized by Philip Kotler's book "Marketing Principles", who is considered the master of marketing, Philip Kotler defines the concept of 4P as "The set of marketing tools that the firm uses to pursue its marketing objectives in the target market." as it expresses.
So, what is the 4P, the cornerstone of marketing?
- Product
- Price
- Place (Distribution)
- Promotion
What do we use this '4P' concept mentioned for?
- The 4P model can be used when planning a new business venture, evaluating an existing offer, or trying to optimize your sales with your target audience. It can also be used to test your current marketing strategy.
- Finally, an important detail; Any successful marketing strategy requires rethinking over time. If you are developing a '4P Strategy' for our business, it is important to understand that the elements of the initial marketing strategy you create are not intended to be static. With the change of conditions, competition, products and market, your strategy may also evolve and change.
