Abstract

ROLE OF 4PS IN MARKETING MIX

*Raj Vardhan Singh and Devashish Jena

Abstract

The marketing mix, or the 4Ps, is a basic marketing concept that involves four major components: Product, Price, Place, and Promotion. The 4Ps are utilized by companies to create and execute successful marketing strategies. The 4Ps are important in establishing a competitive edge, influencing customer interaction, and ultimately, business success. This abstract emphasizes the importance of each P in the marketing mix and how they rely on one another to develop an effective marketing strategy. Marketing mix, envisioned as the 4Ps— Product, Price, Place, and Promotion, is a core model for formulating successful marketing strategies. It enables companies to comprehend customer requirements, position their products competitively, and optimize market coverage. Each component has a specific yet interrelated role in shaping consumer behavior and business success.

Keywords: Marketing Mix, 4Ps, Product, Price, Place, Promotion, Marketing Strategy, Consumer Behavior, Market Positioning, Competitive Advantage, Digital Marketing, Branding, Distribution Channels, Advertising, Sales Promotion, Customer Satisfaction, Business Succe