What Are the Four Ps of Marketing?

The four Ps of marketing, also known as the marketing mix, are product, place, price and promotion. Collectively, these four elements of a marketing effort are analyzed and integrated in the development of a complete marketing strategy.

The product component refers to the solution a company offers to its customers. In general, companies promote product benefits that appeal to targeted customers. The place, or distribution, component refers to the locations or access points where customers can get the products. Price refers to how much the company charges for the offering, which is compared to the benefits of the product to determine product value. Promotion refers to advertising, public relations and sales efforts to attract customers.