The Fundamental of Marketing: Product, Price, Place, and Promotion

THE FUNDAMENTAL OF
MARKETING

Table of Content
MAIN BODY..................................................................................................................................3
Product.........................................................................................................................................3
Price.............................................................................................................................................5
Place.............................................................................................................................................7
Promotion....................................................................................................................................8
REFERENCES..............................................................................................................................11

MAIN BODY
The 4 Ps of marketing mix are referred as a four key elements for marketing any product or
services and that are as follows: product, price, place and promotion.
Product
Product basically refers to the number of products and services that company offers in the market
including quality, design, branding and packing of the product (Jasmani, and Sunarsi, 2020).
Generally, a company starts with one product than in course of time it expands and diversifies its
product range. Example the Unilever product mix includes skin care, hair care, oral care,
deodorants, laundry, tea etc. and it owns 400 brands and is among the largest selling units among
all over the world.
Components of product-
Product includes wide range of product and services that company offers and its components
Are as follows-
Branding-
A brand is knows as the identification of the product that company offers. It can be either in the
form of a name, symbol or it can be design. The branding is done not only to identify the
products and services in the market but also it is done to make the product of one company
superior to other competitor's product. It is seller's promise to deliver the quality products to the
consumers and to satisfy buyers expectations (Davis., 2017).
For example of branding can be seen from the logo of Unilever which is U that is symbolic of its
“vitality mission” and which comprises 25 distinct symbols each representing Unilever's sub-
brands or corporate values. This type of symbols gain consumer attraction as they are different
and has some meaning into it.
Advantages of branding to the company-
 Branding helps in product differentiation from that of a competitor's products.
 Branding helps in advertising as it not only makes peoples aware about the feature of the
product but also it provides information about the brand.
 Any established brand can charge high prices for its product.
 Easy introduction and popularization of new products.
Advantages of branding to the customers-
 It helps consumer to identify the products they want from the market.

 It also ensures quality because big brands works because of branding as they provide the
quality that consumer wants.
 A good brand products add symbol of consumer and adds their confidence level.
Packaging-
Packaging is another component of product mix and it is defined as a set of activities that are
concerned with designing and the production of an appropriate wrapper to pack the product in
which company sales its product. Packaging also includes goods for transport and the
warehousing of the product till its end use. The container of packaging must preserve the item
inside it until it reaches the final user. Today, sustainable packaging is becoming theme for
protecting the environment as environment concerns are raising day by day.
For example- Unilever has started using less plastic to pack its goods keeping in mind the
environment concerns that we are facing today (Nguyen, And et.al., 2020). The Unilever is using
different types of containers for different products so that consume can easily reach the product
by looking at packaging and at the same time is ensuring that packaging is reusable, recyclable
or compostable just to increase the use of recycled plastics.
Importance of packaging are as follows-
 Packaging is important for health and sanitation. In a packed good the chances of
contamination of products becomes difficult. People prefer packed products then those
who has high chances of adulteration.
 Packaging products in unique ways attracts consumer towards the product and the
chances of high profits increases.
 Packaging also helps consumer to differentiate goods easily and choose the product they
want for themselves.
Labelling-
Labelling is a component of the product mix that is an identification mark on the package of the
product. Labelling include lot of information that are as follows name of the product, name of
manufacturer, the content inside the product, expiry and manufacturing date and the general
instruction for its usage. Labelling a product helps consumer to find the right product (Hao, and
Tan, 2019).
For example- Unilever shampoos has categorized in different categories of hair shampoos with
different labels like for dry hair, normal hair and oily hair that can cater the different customer