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The 5 P's of Marketing

By July 23, 2010

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If you own a business, are putting together a business plan, or are considering starting a business, it will be important that you understand the 5 P's of marketing.

For years marketers referred to the 4 P's of marketing. Only recently has a 5th P (People) been added.

Regardless whether you believe in 4 p's or 5, you'll still want to have a good grip on:
  1. Product
  2. Price
  3. Place
  4. Promotion
To me, it's pretty hard to ignore "people" in this. Even if yours is a one-person business. For example, will you use customer service in marketing your products? Will you need special training to accomplish your goals?

The 5 P's of marketing make up what's referred to as your marketing mix.

The 5 P's of Marketing and Your Marketing Mix
Marketing and Sales Strategies
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Comments
July 25, 2010 at 7:11 am
(1) Charles Kaluwasha says:

I thought good relationship with your clients was equally important in marketing. The more you build that close relationship, the better your business thrives.

I appreciate the 5 Ps in marketing.

Thanks

July 25, 2010 at 11:11 am
(2) homebusiness says:

Charles:
Thanks for the comment. You won’t get an argument from me with that line of thinking!

Randy D.

July 31, 2010 at 5:51 pm
(3) Jamie R. says:

Good Article Randy and one to add to that would be pertinence, because with out that one the other 4 aren’t as significant.

Jamie R.

August 1, 2010 at 10:29 am
(4) homebusiness says:

Jamie R.
Actually, that would be 6. I suppose you could also consider patience, persistence and perseverance, too.

Randy D.

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