How Useful Are the 4Ps to Marketing Managers Today ?

Marketing managers use marketing mix as a business tool in marketing. Marketing mix synonymous with the 4Ps which were amended and listed by Eugene McCarthy as Product, Place , Price and Promotion.

First of all, Product refers to the product should fit the task the target consumers want it for, it should work , and it should be what the consumers expected to get. For instance, its packaging, labeling and offering. Therefore, this always remind marketing managers need to do careful research on how long the life cycle of the product is likely to be and focus their attention on different challenges that they are facing when they are developing the product.

Secondly, Place (distribution) means that the way in which the product meets customers’ needs, the product should be easy for the consumers to shop. This may be a high street shop, mail order through a catalogue or it may even be doorstep delivery. Various strategies such as intensive distribution, selective distribution, exclusive distribution and franchising can be used by the marketing managers to complement the other aspects of the 4Ps.

Thirdly, Price refers to the product should always be seen as representing good value for money. However, this does not mean that it should be the cheapest available, one of the main tenets of the marketing concept is that customers are usually prepared to pay a little more for something that really works well for them. The price is very important as being determined , it may affect the demands, sales ,the company's profit and hence, survival. Adjusting the price has a profound impact on the marketing strategy. There are 3 basic pricing strategies : market skimming pricing, market penetration pricing and neutral pricing. The 'reference val...

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...personnel who will be responsible for analysis, planning and implementation. "The enterprise set up marketing department or sales department to undertake the marketing functions ,sometimes it would hire some experts from outside to engage in certain activities, such as market analysts and advertising experts. As a result, people in other area in the enterprise would decoupling from the marketing area ,at the meantime, the marketing managers are not involved in product design, production, delivery, customer service,advice handling and other activities "(Christion Gronroos, 1994), thus leading to potential conflicts between each functional department.

"If the company produces the appropriate products, set appropriate prices, use appropriate distribution channels, and supported by appropriate promotional activities, then the company will success "(Kotler, 2001).