Published online by Cambridge University Press: 05 June 2012
Perhaps one of the best known concepts in marketing is the ‘4Ps’, apparently first described by McCarthy (1960). The 4Ps have endured because they provide the four fundamentals of marketing planning and management. They refer to what the company is selling (product), where the products and services are made available to customers (place, or distribution), how products and services are priced and paid for (price), and where and how the products and services are made known to people and they are motivated to purchase them (promotion). In Chapter 2 we referred to the ‘principle of customer value’ as the sum total of the benefits provided by the ‘mix’ of these 4Ps.
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