Skip to main content

Principles of Marketing - One Definition A Day: Marketing Mix - Four P's

Marketing Mix - Four P's 

Elements of the marketing mix are often referred to as the "Four P's":
  • Product - It is a tangible object or an intangible service that is mass produced or manufactured on a large scale with a specific volume of units. Intangible products are service based like the tourism industry & the hotel industry or codes-based products like cellphone load and credits. Typical examples of a mass produced tangible object are the motor car and the disposable razor. A less obvious but ubiquitous mass produced service is a computer operating system. Packaging also needs to be taken into consideration. Every product is subject to a life-cycle including a growth phase followed by an eventual period of decline as the product approaches market saturation. To retain its competitiveness in the market, product differentiation is required and is one of the strategies to differentiate a product from its competitors.
  • Price – The price is the amount a customer pays for the product. The business may increase or decrease the price of product if other stores have the same product.
  • Place – Place represents the location where a product can be purchased. It is often referred to as the distribution channel. It can include any physical store as well as virtual stores on the Internet.
  • Promotion represents all of the communications that a marketer may use in the marketplace. Promotion has four distinct elements: advertising, public relations, personal selling and sales promotion. A certain amount of crossover occurs when promotion uses the four principal elements together, which is common in film promotion. Advertising covers any communication that is paid for, from cinema commercials, radio and Internet adverts through print media and billboards. Public relations are where the communication is not directly paid for and includes press releases, sponsorship deals, exhibitions, conferences, seminars or trade fairs and events. Word of mouth is any apparently informal communication about the product by ordinary individuals, satisfied customers or people specifically engaged to create word of mouth momentum. Sales staff often plays an important role in word of mouth and Public Relations (see Product above).
Any organization, before introducing its products or services into the market; conducts a market survey. The sequence of all 'P's as above is very much important in every stage of product life cycle Introduction, Growth, Maturity and Decline.

About YourVietbooks.com
YourVietBooks is a collection of books on Vietnam for Readers who are interested in Vietnam's History, Culture, Language, Economy, or Business. Most titles are in English, but some are only available in French or Vietnamese. We can provide interested parties an accurate translation of some parts of the books for your research purposes. Translations are done by YourVietnamExpert's qualified and experienced translators. contact@yourvietnamexpert.com

Popular posts from this blog

Travel to Vietnam - Nhatrang City and Khanh Hoa Province

Travel to Vietnam
Nhatrang City - Khanh Hoa Province


Original Title in Vietnamese: Du lịch miền Trung và Tây Nguyên - Những điều cần biết: Nha Trang Khánh Hòa
By Authors: Nguyen Gia Nung, Thia Ly, Nguyen van Thanh, Khanh Hoa Tourist Ofice
Journalists: Nguyen Hoang Ba, Khue Viet Truong, Dinh Hanh, Dang Minh Chau
Publishers: Chính Trị Quốc Gia (National Politics)


About the Book:
Published in 1998, the information contained in this book is now obsolete but the book itself shows the early efforts of the provincial and central government to gather valuable information for the visitors to Vietnam. More complete information are available under wikipedia.


Complementary from wikipedia

GeographyNha Trang city has a metropolitan area of 251 km² and population of about 500,000 (as of 2007). It borders Ninh Hòa town by the north, Cam Ranh city by the south, Diên Khánhtown by the west and the South China Sea to the east. The city is located on the beautiful Nha Trang Bay, which was chosen by Travel and Leis…

Vietnamese Classical Literature - 19th Century

Vietnam Classical Literature is not known to the outside world as Chinese Literature. For the younger generation, the study of Vietnamese literature seem to fade away, leaving place to contemporary authors on topics on modern existentialism. In my attempt to "come back to source", I have started a collection of books on Vietnam, and classify them under various topics such as Culture, History, Vietnam War, Politics, Biographies, Contemporary Vietnam, International Relations, Doing Business in Vietnam, Reference and Languages, Zen Buddhism, Philosophy, Art and Literature. 

Here is a short picture of the literary world under the last dynasty of Vietnam: the Nguyen. 

Indeed, the 19th Century was a flourishing century for literature and the arts in Vietnam. It opened up with the Kim Vân Kiều  by Nguyễn Du (1765-1820) and closed with the anonymous Song of True Patriotism (Chính Khí Ca :1900). 

Three outstanding talents, Nguyen Du, Mdm Ho Xuan Huong and Nguyen Dinh Chieu contri…

Vietnamese Translators: Join our translation project for Globethics.net Focus series

Translation project for Globethics.net Focus series

Hi các bạn, chúng tôi kêu gọi việc dịch sách ra tiếng việt để khuyến khích về phong cách sống, lao động và học tập với chuỗi giá trị và văn hóa dựa trên nhân bản. Các bạn nào muốn ghi danh xin click vào đường link này: https://form.jotformeu.com/61101612928347
Xin cám ơn.
Anh Thơ Andres




Globethics Publications | Focus Series
Each volume in this series focuses on a current ethical issue with global relevance and usually has a single author. Here is a selection of works calling for volunteers to translate into Vietnamese:

Ethics in Politics: Why it matters more than ever and how it can make a difference (2012) 
Benoît Girardin
ISBN 978-2-940428-20-5 - Globethics.net Focus No. 5

" This book is an affirmation: Yes, ethics in politics is possible – and it pays off. It is not a naive dream. The author chooses a pragmatic approach and tests whether value orientation can make a difference in politics and how. He presents practical cases and o…