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The 4Ps have been the cornerstone of the managerial approach to marketing since the 1960s Product refers to what the business offers for sale and may include products or services. Product decisions include the "quality, features, benefits, style, design, branding, packaging, services, warranties, guarantees, life cycles, investments and returns".
The 4Ps refers to four broad categories of marketing decisions, namely: product, price, promotion, and place. [7] [49] The origins of the 4 Ps can be traced to the late 1940s. [50] [51] The first known mention has been attributed to a Professor of Marketing at Harvard University, James Culliton. [52]
It is also commonly called the promotional mix. Crosier (1990) states that all terms have the same meaning in the context of the 4ps: product, price, place and promotion. [1] Price can send a message to the target audience. For example, comparing a $50 bag to a $10 bag, the former may be viewed as a luxury or more durable item.
McCarthy defined the 4Ps conceptual framework for marketing decision-making, which used product, price, place (or distribution), and promotion in the marketing mix. In 1960, McCarthy was the first to propose a marketing mix concept that resonated with both practitioners and academics. [ 15 ]
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E. Jerome McCarthy – popularised the managerial approach and developed the concept of the 4Ps; Arthur Nielsen – early market researcher; pioneered methods for radio and TV ratings; David Ogilvy (businessman) – advertising guru, early pioneer of product positioning
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EN (SPANGRAM) NYT Strands Spangram Answer Today. Today's spangram answer on Friday, February 14, 2025, is ENDEARMENT. What Are Today’s NYT Strands Answers, Word List for Friday, February 14?