4 Ps - Product, Price, Place and Promotion

Based on the collected consumer and market research, an implementer can use the “4 Ps” of product, price, placement and promotion to ensure that their product (or service) is appropriately targeting the chosen segment of the market. For each target group to be reached, implementers need to consider each element:

• Product: How the product (or service) should look and function to meet the needs of the target audience(s). This includes considerations of packaging, branding and product formulation.

• Price: What the product (or service) costs to the consumer. This price should fit the target audience’s ability to pay, and may also need to factor in incentives such as margins for wholesale and retail traders or providers who ensure that the product is delivered to the customer.

• Placement: Where the product (or service) is available. Placement should factor in the type of outlet (e.g. clinic, store, bar, pharmacy) but also the operating hours of such outlets.

• Promotion: What advertising and communications are used to encourage consumer uptake of the product or service. The channels selected must be those that reach the target audience(s).

The key point is that the strategy should be internally consistent within the 4 Ps and tie in closely with the market research carried out.