Marketing Management: An Analysis of the Four Ps for Marketing Success

This report provides an analysis of the four Ps of marketing, which are critical to the success of a marketing strategy. The four Ps include product, price, place, and promotion. The product is essential as it addresses customer needs, with quality being a primary criterion. Price is the second P, which is crucial for marketers in comparing income and prices with competitors, aiding in competitive advantage. Place is the third P, concerning the movement of products through intermediaries. Promotion is the last P, highlighting the importance of promotional strategies in a competitive market. The report emphasizes how these four elements relate to the products sold and positively impact profitability. References are provided to support the analysis.

Running head: MARKETING MANAGEMENT
Marketing Management
Name of the Student
Name of the University
Author note

1MARKETING MANAGEMENT
Analysis of Four P’s which is Critical to Success of Marketing Strategy
To improve the overall success of the marketing strategy, the most four P’s of the
marketing includes:
 Product
 Price
 Place
 Promotion
The product is one of the significant P as it helps in solving the needs of the
customers for example- iPhone has made the lives of the people easier as they are receiving
access to small units which will accompany them everywhere (Baker, 2016). The quality of
the product is the primary criteria which are required by the customers.
Price is the second P which includes the payment done by the customers, and it is
essential for the marketer in comparing the income and prices in comparison to competitors.
It will be helpful in gaining a competitive advantage.
The place is the third P as it is the most significant component which affects the
marketing process. The place is essential for the business or the product as the movement is
inclusive of a combination of different intermediaries such as retailers, wholesalers and
distributors (Jackson & Ahuja, 2016).
Promotion is the last P as there are few customers in the competitive business
environment who do not compare with the other competitors; instead, they are impressed by
the excellent promotional strategy of the product (Jackson & Ahuja, 2016).

2MARKETING MANAGEMENT
These are the primary four Ps which boil down relating the products which are being
sold by the company to their customers in the market. The place, price and promotional
aspects are the vital aspects which improve the profitability positively.

3MARKETING MANAGEMENT
References
Baker, M. J. (2016). What is marketing? In the Marketing Book (pp. 25-42). Routledge.
Jackson, G., & Ahuja, V. (2016). Dawn of the digital age and the evolution of the marketing
mix. Journal of Direct, Data and Digital Marketing Practice, 17(3), 170-186.