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Key MBA Models by Dr. Julian Birkinshaw, Ken Mark

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16

The 4Ps of marketing

When launching a new product or service, you have to think carefully about a range of factors that will determine its attractiveness to consumers. The most widely used way of defining this ‘marketing mix’ is to think in terms of the 4Ps: product, price, place and promotion. This is a useful checklist to ensure that you have thought through the key elements of your value proposition.

When to use it

  • To help you decide how to take a new product or service offering to market.
  • To evaluate your existing marketing strategy and identify any weaknesses.
  • To compare your offerings to those of your competitors.

Origins

While its origins are much older, marketing really took shape as a professional discipline in the post-war ...

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