The 4 Ps of Marketing: A Modern Playbook for High-Level Executives and Business Owners
Marketing has evolved dramatically in the digital era, yet one framework remains timeless: the 4 Ps of Marketing—Product, Price, Place, and Promotion. First introduced by E. Jerome McCarthy in the 1960s, this model is still the foundation of effective marketing strategy. But in today’s fast-paced, data-driven world, how do these principles hold up?
"For high-level executives, and business owners, understanding the 4 Ps isn’t just about revisiting a marketing textbook—it’s about adapting these pillars to a landscape shaped by AI, hyper-personalisation, and shifting consumer expectations," said Sis Higgins, Director Pickled Pear Media
Let’s break them down and explore how to leverage them for competitive advantage.
Product: More Than Just a Thing, It’s an Experience
A great product isn’t just about quality anymore—it’s about differentiation, personalisation, and brand experience. Consumers don’t just buy products or services; they buy stories, values, and experiences.
Key Executive Considerations:
Innovation & Differentiation: Is your product solving a real problem better than competitors?
Sustainability & Ethics: Consumers are increasingly choosing brands that align with their values.
Personalisation & AI: Can your product adapt to individual customer needs?
Example:
Apple (the almighty of all things marketing) doesn’t just sell phones; it sells a seamless ecosystem of devices, services, and experiences. The focus isn’t on features but on how the product fits into a user’s lifestyle.
On the other hand, we have Temu - we all know the products are sub-par, however, for some (no, no, not me), the curiosity, convenience and click-addiction kicks in and we spend hours trawling the app, and what was going to be a $50 purchase turns into a $500. Oops!
Price: The Art of Perception and Profitability
Pricing isn’t just about cost-plus-profit—it’s about positioning and psychology. In the digital age, where price comparisons are a click away, brands must balance value perception with strategic pricing models.
Key Executive Considerations:
Dynamic Pricing: AI-driven models adjust pricing in real time based on demand, competitor moves, and consumer behaviour.
Subscription Economy: Netflix , Adobe , and even car manufacturers (hello Apps to start your aircon before entering your car) are shifting toward recurring revenue models.
Luxury vs. Accessibility: Do you want to be a premium brand (Apple, Tesla) or a mass-market leader ( Amazon, Kmart Australia Limited and Temu)? Your pricing must reflect that.
Example: Tesla’s direct-to-consumer model eliminates dealership markups, allowing for competitive pricing with premium positioning. Meanwhile, budget airline Ryanair offers ultra-low base fares but profits through add-ons and upsells.
Place: Where You Sell is as Important as What You Sell
In a world where omni-channel is the new norm, “Place” isn’t just about brick-and-mortar vs. online—it’s about being where your customers expect you to be.
Key Executive Considerations:
Direct-to-Consumer (DTC): More brands are bypassing traditional retail and selling directly through owned digital platforms.
Social Commerce: TikTok, Instagram, and Pinterest are sales channels, not just marketing tools.
Global Reach: Are you leveraging cross-border eCommerce opportunities?
Example:
Nike is aggressively focused on direct sales through its own website, flagship stores (and how beautiful are they?!), and SNKRS app—giving it full control over branding, pricing, and customer data.
Promotion: It’s Not Just Ads, It’s a Conversation
The days of one-way advertising are over. Consumers expect brands to engage, entertain, and provide value before asking for a sale. Promotion today is about storytelling, community-building, and authenticity.
Key Executive Considerations:
Content Marketing: Are you creating valuable content that educates and engages? (like this one ;)
Influencer & UGC Strategies: Are you leveraging real people to build trust and credibility?
AI & Personalisation: Are you delivering the right message to the right person at the right time?
Example:
Duolingo's TikTok marketing isn’t about selling—it’s about entertainment and engagement, using humour and viral trends to keep audiences interested. This drives organic brand love and user acquisition.
(Thanks Duolingo, my 13 year old has been using the App for about 6 years is almost-proficient in 3 languages and trying to learn others from time to time... He's not on Tik Tok, but is on YouTube )
Final Thoughts: The 4 Ps Reimagined
While the 4 Ps remain foundational, today’s marketing leaders must integrate them with digital transformation, AI, and shifting consumer expectations. The key isn’t just mastering each “P” individually—but ensuring they work seamlessly together.
"In order to effectively make the 4 Ps work for your marketing, and to make your marketing work for your 4 Ps, marketing teams must have an understanding of the business. They don't need to know the fine details, but must understand it at a high level," explained Sis.
So, ask yourself:
Is your product an experience, not just an item?
Is your pricing strategic, not just a margin calculator?
Is your placement omnipresent, not just retail-bound?
Is your promotion engaging, not just pushing ads?
Master these, and you won’t just be keeping up—you’ll be leading the charge in the modern marketing landscape.
Download our FREE Holistic Business Insight questionnaire for Marketers and Business Owners, and start putting your 4Ps into practice!
