Product, Price, Place, Promotion
4P is the acronym for Product, Price, Place, Promotion.
The 4P model of marketing encompasses the product or service you’re selling, how much do you charge and its value, where you need to promote it, and how you’ll promote it.
- Product: Refers to the goods or services a company offers to its customers.
- Price: Represents the amount customers are charged for the product or service.
- Promotion: Includes advertising, sales promotions, public relations, and other efforts to communicate and promote the product to the target audience.
- Place: Encompasses the distribution channels and locations where customers can purchase the product.
- Abbreviation: 4P