The Product is everything tangible or intangible (good or
service) offered to a market for its acquisition, use or consumption, and that
can satisfy a need or desire. Product can be called material objects or
goods, services, people, places, organizations or ideas. Decisions
regarding this point include the formulation and presentation of the product,
the specific development of the brand, and the characteristics of the
packaging, labeling and container, among others.
The Price is the exchange amount associated with the transaction. The
price is not set by the manufacturing or production costs of the good, but must
have its origin in the quantification of the benefits that the product means
for the market and what the market is willing to pay for those benefits. Notwithstanding
the foregoing, for the setting of the price are also considered: the prices of
the competition, the desired positioning and the requirements of the company.
The Plaza (Distribution) for its part, is defined as the
place where to market the product (good or service) that is
offered. Consider the effective management of logistics and sales
channels, to ensure that the product reaches the place, time and in the right
conditions.
The Promotion (Communication or Psychological Approach)
includes all the functions carried out so that the market knows the existence
of the product / service / brand. The P for "promotion", or
Promotion mix, is made up of four main tools: advertising, public relations,
sales promotion, and personal selling.
For a company to be fully successful in the market, it must
focus on the parallel development of these four variables. Many companies
fail, because they focus exclusively on the use of promotion, without realizing
how necessary the development of the other three variables is. The
marketing currently used by most companies is based on the common use of the
"Four Ps" in order to avoid a stagnation of the products or services
that are provided, so there must be a great synchronization in the use of the
themselves.
Companies must have a product or service with a good level
of quality and capable of satisfying customer needs. Consequently, its
price must be feasible and within the value ranges, that is, the price is the
monetary expression of the value of the product or service. In the same
way, there must be a good distribution, so that the customer can access the
product or service without difficulties and as many times as they want.
For all this to happen, the client must know about the
existence and benefits of what is offered, its limitations, quality and the
level of satisfaction it offers to their needs. Once any business or
organization achieves this effect on the market, it can claim that its
marketing strategy has worked successfully. It is necessary to specify
that the use of the four variables of marketing is the key factor within all
organizations to achieve an advantageous position within the market.
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