The 4 Ps of Marketing

Short exercise for our students to gather information about the 4 Ps of Marketing

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The 4 Ps of Marketing by Mind Map: The 4 Ps of Marketing

1. Price:

1.1. What pricing Strategy will you use

1.1.1. Premium if it is higher quality

1.2. Where is the competition priced

1.3. What do you have to price it at to make a profit?

1.4. Will you change the price over time

2. Product

2.1. Is it tangible or is it digital

2.2. What makes it unique

2.3. Are you providing a service instead of a good

2.4. Do you need to get a patent or copyright

3. Place

3.1. What part of the country you are selling your product to

3.2. Where the raw materials are located

3.3. Where are the production facilities

3.4. What kind of shipping options are you able to use and what is the cost?

4. Promotion

4.1. Use as many different things as possible to get the word out about your product

4.2. What is your advertising budget?

4.3. Are you looking to place the product in movies or other commercials

4.4. What types of public relations and social media marketing are you able to do

5. All Must be Utilized to successfully sell a product.

5.1. If they aren't in balance sales could suffer but profits will suffer.