Importance of the 4 Ps in Marketing Essay

3809 WordsJul 30, 201216 Pages
The Importance of the 4 Ps in Marketing and the Successes of Major corporations BUSA 300 – Principles of Marketing University of Hawaii-West Oahu Abstract This paper describes the importance of the 4 Ps (product, price, promotion, place) in marketing and how they are each used in a large corporation perspective. This paper offers insight into what tactics are utilized to generate revenue and obtain a loyal consumer base. The Importance of the 4 Ps in Marketing and the Successes of Major corporations When someone thinks about marketing, the first thing that might come to mind is television ads, billboards, and radio ads. When you consider all the aspects that come into play to produce these ads, it is clear that marketing is…show more content…
It must be convenient for the consumer to access. Depending on the demographic in which the product is marketed this can mean selective distribution or large-scale distribution. If the product is not placed in the right atmosphere then it doesn't matter how well priced or promoted it is. In the last decade a new aspect of sales had to be addressed when coming up with placement strategies. Online shopping. "In the case of web based sales this component is often one of the most pertinent. In the fast paced internet sales world it is important for the product to ship and be received as fast as possible to keep customers happy and loyal."(Gonzalo, 2008) Coca-cola has come a long way from its creation in 1882 by John Pemberton and being sold for 5 cents a glass at 9 per day, to over a century later and having produced more than 10 billion gallons of syrup. (Heritage, 2011) When it comes to product, coca-cola is not lacking. Their impressive range of more than 3500 beverages from diet drinks to soy-based drinks spans the world. By determining what people of different areas in the world would be likely to consume, the coca-cola company has expanded their product line from the original coca-cola beverage to more location appropriate flavors like Inca Kola, a sparkling beverage found in North and South America, Samurai, an energy drink available in Asia, and Vita, an African juice drink.
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