The four Ps of the marketing mix - product, promotion, price and place - are still seen as the basis of marketing - but how relevant are they today? Using case studies of companies large and small this film explains and explores each of the Ps.
PRODUCT: Brompton Bicycle is a manufacturing company based in London. The secret of their success is an iconic product, "hand-built" for its customers. Divine Chocolate makes much of its fair trade credentials - but marketing-wise the product comes first - people won't buy it if they don't like taste. Meanwhile, taxi firm Climatecars sells not a product, but a service - its USP is being green, but quality and consistency are major priorities.
PROMOTION: Television advertising is still the big promotional tool - but beyond the budgets of many companies. Divine has to target its advertising spending and employs shock tactics - going against the clich¨¦. Another useful form of promotion for companies with limited budgets is pr - public relations. But it's not just the small companies - Virgin has been enormously successful at getting free publicity.
PRICE & PLACE: "Place" Is WHERE you sell your goods - and this is changing. The internet now makes possible more targeted and niche marketing. For Brompton Bicycle choosing the right dealers is critical. Pricing, too, is key for all companies - and needs careful attention. Market pricing and cost plus pricing are two key approaches. But how relevant is the classic marketing mix these days? Some marketers want to combine the Ps for product and price into a new P - P for the proposition.
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