4Ps of Marketing Mix PDF

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Marketing Models Marketing Mix: Marketing is a process responsible for identifying, anticipating, and satisfying customer requirements profitably. (CIM, 2015) A professor at Harvard University, Neil Borden developed a concept, “Market Mix” in the 1950s, which and modified by Eugene McCarthy to 4Ps of Marketing Mix to be memorized easily. (1960) These 4Ps of marketing are Product (manufacturing, packaging, labeling, etc.), Place (distribution and access of product to customer), Price (what consumer pays) and Promotion (advertising, PR and promotional strategies) The purpose of 4Ps was to allow managers to develop their promotion strategy and all of these 4Ps are interlinked. The “marketing mix” is the most frequently used to identify the requirement and needs of consumers and how can their product or service become successful or fails, how they overcome their competitors. All 4 elements must be mixed well to create the best result. (Visser, Sikkenga and Berry, 2021) The marketing mix has many positive impacts on a business. It helps to strengthen the business and reduces the weaknesses while becoming more competitive and adapt the changes in markets. 4Ps can be explained by an example of a chicken product at KFC, the first “P”, the product will include the appearance, packaging, and branding. The menu of KFC offers competitive prices which they have adopted by applying different strategies to compete against growing markets. KFC reached a sale of $23 billion in 2013 following its marketing strategy. The 3rd P, Place also played a major role in the growth of KFC. The facility locations are selected by deep consideration and research, then established where they can attract most customers, like in the center of the city. KFC maintained its presence where ever it can to promote its products to its targeted audience. It is visible all-over social networking sites like Instagram, Facebook, Twitter, YouTube. Its promotions also appear in billboards, printed media, or broadcast media. It is considered that the 4Ps of the marketing mix can help boost any business to survive and become more profitable and successful.

STP MARKETING Segmentation, Targeting, and Positioning Marketing is a process in which the market is categorized into segments to identify the best customers and to target them. With the conspicuous ascending of developing market, the variety of client needs, and the capacity to catch the specialty portions, the utilization of STP will be more successive. With this marketing model, a vast and diverse market can be assorted marketing focus

can be settled on best clients to serve and make a reasonable position in the market to stand apart from the business rivals. (Dowling, 2021)

Segmentation: Marketers segments market and identify customers on which they should focus more to generate maximum revenue and profit. The reason for segmentation is to confirm that the marketing mix meets all the classification of clients. A business has limited resources, only which should be used the best possible way. Customers can be classified by their demographics, geographics, psychographics, or their behavior. Like Volkswagen make different cars for separate class of customers, from making small cars like Polo, Golf, etc. to most luxury cars like Audi, Bentley, Lamborghini, etc. For upper-class customers. (Baines, Fill, Rosengren and Antonetti, 2017) Targeting: The 2nd stage of STP is Targeting, in this process, the best group of customers is selected. After segmenting, the company focuses on one or a few segments that determine the company’s success. To help us conclude, we should think about the necessities of each segment, which we are best prepared to serve, and which address the greatest chance for us regarding deals, benefits, or mindfulness. Like the targeted customers of Lamborghini are high-class people who live in large houses and are rich. (Baines, Fill, Rosengren and Antonetti, 2017)

Positioning: After targeting, the company position a brand in the targeted market. Positioning offers products different from each other to tempt customers to purchase our product. For Example, due to global warming, people want to contribute to a better environment so they will tend to buy an electric car instead of a carbon emission car. (Baines, Fill, Rosengren and Antonetti, 2017)

Bibliography Baines, P., Fill, C., Rosengren, S. and Antonetti, P., 2017. Fundamentals of Marketing. Oxford: Oxford university Press. Dowling, G., 2021. Market Segmentation and Targeting. [online] Oxford Scholarship Online. Available at: [Accessed 18 March 2021]. 2015. Marketing and the 7Ps: A brief summary of marketing and how it work. [ebook] Berkshire: CIM. Available at: [Accessed 18 March 2021]. Visser, M., Sikkenga, B. and Berry, M., 2021. Digital marketing fundamentals. Groningen: Noordhoff. sources in the current document

Baines, P., Fill, C., Rosengren, S. and Antonetti, P., 2017. Fundamentals of Marketing. Oxford: Oxford university Press. Dowling, G., 2021. Market Segmentation and Targeting. [online] Oxford Scholarship Online. Available at: [Accessed 18 March 2021]. 2015. Marketing and the 7Ps: A brief summary of marketing and how it work. [ebook] Berkshire: CIM. Available at: [Accessed 18 March 2021]. Visser, M., Sikkenga, B. and Berry, M., 2021. Digital marketing fundamentals. Groningen: Noordhoff....