The Marketing Mix, What Is It?: Part 1

Marketing can be hard, learning about it will help you a lot, and as you learn more about marketing you stumble upon the 4Ps or the marketing mix as they say but you are still unsure about it. So in this article, we will try our best to explain what the marketing mix or the 4Ps is, hopefully by the end of this article you will gain new information about the topics and can learn something new about it.

So what are the 4Ps?
The four Ps of marketing are the key factors that are involved in the marketing of a product or service, the 4Ps are product, price, place, and promotion of a good or service. Some people call it as the marketing mix, the four Ps are consisted by internal and external factors within the business environment and that interact significantly with one another. Coined by marketer and academic E. Jerome McCarthy, the 4Ps provides a solid framework for marketing decision-making. His marketing mix has since become one of the most known and widely accepted frameworks within the marketing world. It is used by businesses to identify the key factors for their business, including how their product or service meets or fails to meet those needs, what consumers want from them, how they stand out from their competitors, how their product or service is perceived in the world, and how they interact with their customers.

Managing marketing might be tricky if you did not have any experience before. But these days, it is easy to find an agency in Singapore online that can assist you with all your needs. We will continue with the Ps on the next article.