The 4 Ps and Marketing

The 4 Ps and Marketing



The 4 Ps and Marketing

Introduction

Products and services are supplied by businesses for the benefit of businesses (business-to-business or B-to-B) or by businesses for the benefit of consumers (B-to-C). This distinction between the types of users of products and services has recently been redefined due to Web based sales. "B-to-B" and "B-to-C" spaces are new terms to help express the rapidly changing distribution systems used by businesses (Phillips, 2003). The Internet has allowed some typical B-to-B firms to market via the Web directly to the consumer bypassing well-established B-to-C firms. Some new Internet firms are selling B-to-C through a virtual retail store. Virtual Web stores bypass the very expensive process of building a real retail store (referred to as a "brick and mortar store"). This dramatic environment has shaken the very definition of the 4 Ps of marketing. We will follow the standard definitions but will also pose questions to better understand how marketing must adapt to the rapidly changing international and technology driven environments (Ford, 2003).

Product

Product includes both products and services. The common perception is to think of products in a physical sense such as a car, a Coke, a massage, or having your palm read by a fortuneteller. Marketing professionals know a product defined by value added instead of physical features is very different. When you purchase your Coke are you:

A. After a cold drink?

B. Seeking a brand name you can rely on for consistent flavor?

C. Quenching a thirst?

D. Avoiding decisions about which brand is the best flavor?

E. Avoiding decisions about which brand is the best price?

F. Thinking about the last Coke commercial you saw?

G. Satisfied about the red color on the can (or bottle shape)?

H. Feeling as though you are part of a world order of youth that endorses ...