Marketing mixThis is one of the most famous elements of marketing: the so-called Four Ps – a set offour controllable marketing tools to achieve a company’s objectives. The Four Ps are:●● Product: What is it? This also covers services – what exactly is sold?●● Price: How much do customers pay?●● Place: Where can customers buy it? Includes distribution channels.●● Promotion: All communications to persuade customers to buy the product:advertising, public relations, point of sale displays and word of mouth.The Four Ps have been expanded into seven, with the addition of the followingelements:●● People: all employees who influence the perception of the product.●● Process: procedures, mechanisms and flow of activities.●● Physical presence: a direct sensory experience that allows a customer to measurewhether he/she has received value.The Seven Ps are especially relevant for companies selling services.Other candidates for Ps include Packaging, Public opinion and Political power.It has been proposed that the Four Ps be replaced by Four Cs (Consumer, Cost,Convenience and Communication), which are more consumer-focused.

Marketing mixThis is one of the most famous elements of marketing: the so-called Four Ps – a set offour controllable marketing tools to achieve a company’s objectives. The Four Ps are:●● Product: What is it? This also covers services – what exactly is sold?●● Price: How much do customers pay?●● Place: Where can customers buy it? Includes distribution channels.●● Promotion: All communications to persuade customers to buy the product:advertising, public relations, point of sale displays and word of mouth.The Four Ps have been expanded into seven, with the addition of the following

elements:●● People: all employees who influence the perception of the product.●● Process: procedures, mechanisms and flow of activities.●● Physical presence: a direct sensory experience that allows a customer to measurewhether he/she has received value.The Seven Ps are especially relevant for companies selling services.Other candidates for Ps include Packaging, Public opinion and Political power.It has been proposed that the Four Ps be replaced by Four Cs (Consumer, Cost,Convenience and Communication), which are more consumer-focused.