What are the four parts of the marketing mix?

4P's marketing theory is summarized as a combination of four basic strategies, namely, product, price, channel and promotion. Because the English prefix of these four words is p, plus Strategy, they are called "4P" for short.

Among them, the pricing strategy is that enterprises can achieve their marketing goals by setting and changing prices according to market rules, including the combination and application of controllable factors related to pricing, such as basic price, discount price, discount, payment term, commercial credit and various pricing methods and techniques.

the marketing theory of 4ps

4P theory came into being in the United States in 1960s, and it came into being with the proposal of marketing mix theory.

Neil Borden put forward the "marketing strategy combination" in 1950, emphasizing the overall planning and coordination of various marketing elements from the realization of the overall marketing objectives of enterprises, and the managers of enterprises are "combiners of various elements", which is an important idea to improve marketing efficiency from the perspective of management. He attributed the related factors of enterprise marketing activities to 12.

1953, NeilBorden coined the word "Marketingmix" in the inaugural speech of the American Marketing Society, which means that the market demand is more or less influenced by the so-called "marketing variables" or "marketing elements".