4P analysis
Overview of 4P analysis
The 4P analysis examines four key elements: Product, Price, Place, and Promotion.
It is ideal for developing marketing strategies and is particularly effective when launching new products or revisiting the marketing strategy of existing ones.
How to perform a 4P analysis
4P Analysis – Step 1: Identify the Four Elements
Product | The products or services you offer and the value they deliver. Examples: Higher durability compared to competitors, strong uniqueness, a wide variety of options. |
|---|---|
Price | Pricing, availability of discounts or campaigns, and comparison with competitors. Examples: Higher priced than competitors but cheaper with promotions, some items offered for free. |
Place | Distribution channels, store locations, logistics, inventory management, and online presence. Examples: Fast delivery through a proprietary system, selling via both own website and marketplaces like Amazon or Rakuten. |
Promotion | Customer acquisition channels and advertising content. Examples: Word of mouth, traffic from search engines, ads on platforms like YouTube or TikTok. |
4P Analysis – Step 2: Develop a Marketing Strategy
Combine the Product, Price, Place, and Promotion elements identified in Step 1 to create specific marketing strategies.
It is not necessary to combine all four elements every time—combinations of two, three, or all four are acceptable.
Finally, prioritize these strategies and translate them into actionable, executable plans.