Product, Price, Place and Promotion of the Marketing Mix

Product, Price, Place and Promotion of the Marketing Mix
Introduction
The four Ps of the marketing mix refer to Product, Price, Place and Promotion. All these are essential factors and guide in marketing a product or service to the public. It was first proposed by Professor Neil H Borden (1965) in his article on the marketing mix concept. Further developed by McCarthy et al. (1972) in their article on a managerial approach in basic marketing. It has since become standard in academia and for marketing managers. A social marketing campaign is meant to derive change by selling positive behaviour to the public, mainly by raising awareness or changing perceptions. Some broad categories include health and safety under which consumption of iodized salt falls. Thus, the message needs to grab the public's attention by creating a compelling message using the four Ps of the marketing mix.
Application
To frame a social marketing campaign that encourages using iodized salt using the four Ps of the marketing mix, a marketer needs to define each of the four Ps in the four factors. First, Product. This factor is arguably the most important aspect of the marketing mix (Andreasen & Kotler, 2003). It is mostly not a physical product but rather the desired behaviour that would accrue from a behaviour change and, in this case, the uptake of iodized salt. The possible benefits would mainly be boosting thyroid function, which is essential in regulating blood pressure, body temperature and heart rate. The new behaviour needs to be consistent for it to be effective. The second factor, Price, involves the cost to the consumer to earn the social benefit. It may involve a person’s time, effort or even comfort. The benefits must outweigh the Price of the desi...