4 Ps of Marketing

Whāinga ako: Lesson Goals

Investigate the meaning and relevance of the Marketing Mix (4 Ps)
Explore the 'Product' element of the Mix, through case studies and examples

Kupu matua - Keywords

marketing, promotion, strategies, unique

t-1679918950-esl-business-english-marketing-vocabulary-worksheet_ver_3.pdf

For accelerated learners, this worksheet takes students through the keywords we will cover and basic marketing concepts.

You have a minute to give the person next to you a definition of marketing.

Explain to the class what you think it means.

Mahi - work

Earlier we learned about 'make or break' situations based on interactions with employees. The way a company is represented in marketing can also make or break their business.

Why do you think that is?

To get marketing right it needs to be a combination of the 4 P's

Product (hautaonga)
Price (utu)
Promotion (whakatairanga)
Place (paehokohoko)

This combination is called 'The Marketing Mix'

4 Ps of Marketing

Most people think of marketing as just advertising or sales when really there is a lot behind it.

Marketing involves knowing the product, knowing the customer/society to be able to create a better product to fit the customer and/or be able to sell to the customer.

The four strategies of the marketing mix (product, price, promotion and place) are interconnected. Action in one affects decisions in another. The order of dealing with each can vary, i.e. place can occur before promotion, etc. But first, the target population must be defined and then the strategies are directed toward this target population (market).

Worksheet for groups to fill in.

Product

A business needs to clearly know what their product is and what makes it unique. This is known as the USP (unique selling point).

Price

Price needs to be set to make a profit. There are different pricing strategies a company can use to get the best price for their product but if they make poor decisions here e.g. price it too high or too low, they will loose money and/or customers.

Promotion

How a company pushes a product or service to an audience. This can be through Ads or social media. The photos to the left are examples of stealth marketing. They are strategically placed products with the brand facing the camera.

Place

Where a product is sold. Will it sell best just online? In a market? In a shop? Businesses need to get this right so that the customer can easily access the product without it costing the business too much.

Examples of when a business gets the marketing mix wrong includes things like: