The Four P's of Marketing

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The Four P's of Marketing The Four P's of Marketing The first P that the paper will address is Product. Professionals, researchers, and students of marketing must understand the importance of crafting the right product to satisfy the needs of the intended consumer. This P has a lot to do with the product, from design to production to distribution. This P also has a great deal to do with the consumer. Professionals and organizations of marketing must know the target consumer very well. When the marketing professional or marketing firms has an extremely clear concept of the intended consumer, they will be in a strategically stronger position to introduce a new product or service. (Ehmke et al, 2005) The next P of marketing the paper shall address is price. Successful marketing includes marketing the right product to the right audience at the right price. If the marketing professional knows the target consumer very well, then he/she will be in a strong position to predict and assign a price to such a product. Knowing the target demographic for a new product must include financial and class information as people of different classes have different tastes, different needs, different aesthetic preferences, and different kinds of access to products. (Vargo & Lusch, 2004) The third P in the four P's of marketing is Place. The right product for the right customer at the right price must be located at the right location. All of the P's are contingent on the amount and quality

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