The Marketing Programme

Digital Marketing - Study Notes:

The 4 Ps

The 4 Ps of marketing are:

•      Product
•      Price
•      Place
•      Promotion

You can use them to realize your marketing goals. Also known as the marketing programme, the 4 Ps are the controllable valuables that marketers use to execute a marketing strategy. 

Each of these elements comes with its own set of strategies, but you can use the entire set to efficiently reach and serve consumers. After all, whatever marketing strategy you choose, it can only be implemented when you have a product that’s promoted in a certain way on certain channels and that’s available for sale at a set price. 

The Three Product Levels

To understand products better, Philip Kotler proposed examining each product as though it were actually three separate products: 

•      Core benefit: This is the fundamental need that the customer satisfies when they buy the product.
•      Actual product: This the product features and its design.
•      Augmented product: This is any non-physical part of the product.

Taken together, these three products are known as the Three Product Levels.

Product managers and marketers can use the model to ensure they never lose sight of a product’s core value or benefit. The first step is to identify the core benefit. You can do this by asking: what do customers want? Then, you can create products based on the answers you get. 

The core benefit is the main reason a product exists, stripped of any additions or extras. It embodies the fundamental usefulness of the product. For example, the core benefit of a winter coat is the warmth it provides. 

The actual product layer includes features that allow for the delivery of the core product. So, you could say that it’s the actual product. The actual product of a winter coat is the material it’s made of, its style, quality, brand name, and the colors and sizes it’s available in. 

The augmented product layer in the model consists of all the intangible additions that surround a product and provide it with value. For a winter coat, the augmented layer could include online delivery or store pick up options, the brand’s returns policy, and the availability of customer support. Most competition takes place at this level, so it’s important to have a strong augmented layer.  

Relationship to branding 

Most people identify a product and its marketing programme through its brand. When consumers have a strong relationship with a brand, they usually understand the marketing programme behind the brand without actually seeing it. Brands represent what the product actually means to the customer, and they need to be treated carefully. They can be incredibly valuable. For example, Coca-Cola’s brand name is probably the biggest asset owned by this huge corporation.