The 4P's of Marketing

(Freepik, 2014)

As stated in this e-commerce module, the 4Ps of marketing are, "Price", "Promotion", "Product", and "Place". This blog post aims not only to explain these marketing principles, but also to explain how these 4Ps have been incorporated into the development of my e-commerce website.

• Product

The key questions to be answered by any marketer, about the products are: "Who needs it, and why? What does it do that no competitor's product can do?" (Twin, 2022)

"The job of the marketer is to define the product and its qualities and introduce it to the consumer." (Twin, 2022)

fig: 1.1

As a case study, I have taken a screenshot of a product in my e-commerce website. The page above not only describes the color and brand, but also describes the product to customers.

• Price

Another crucial aspect is the price of the commodity. It is important that the marketer determines how much a product is worth, and how much customers should pay for it. The marketer also determines when to give discounts on certain goods or services. (Twin, 2022)

fig: 1.2

As seen in fig: 1.2 above, the pricing for the product has been placed on my e-commerce website, after comparing the pricings of similar products on other e-commerce websites.

• Promotion

It is also important that the marketer is able to promote his goods to the specific audience it is intended for. This can be done through advertisements on billboards, social media, and through advertising agencies. (Twin, 2022)

• Place

It is also important that the goods be sited in a place best suitable for its audience. A company producing heaters, for example would be unwise to keep most of its stock in stores located in hot or temperate countries. It is important that the place be considered in marketing a product or service.

Comparing the images in Fig: 1.1, and 1.2, to the products on Sweetwater website, mentioned in the previous post on About Pages, it is clear, from the pic below, how this website has not only made reference to pricing, but also promotion, place and product description.

 

Sweetwater, (no date)

Reference List

         Freepik (2014) Free vector: 4P infographic, Freepik. Available at: https://www.freepik.com/free-vector/4p-infographic_711054.htm#query=4p%20marketing&position=1&from_view=search&track=ais (Accessed: March 11, 2023).

         Sweetwater (no date) Arturia MiniLab 3 25 Slim-Key Controller, Sweetwater. Available at: https://www.sweetwater.com/store/detail/MiniLabMk3--arturia-minilab-3-25-slim-key-controller (Accessed: March 11, 2023).

         Twin, A. (2022) The 4 PS of Marketing and how to use them in your strategy, Investopedia. Investopedia. Available at: https://www.investopedia.com/terms/f/four-ps.asp (Accessed: March 11, 2023).