Definition

Marketing elements are certain components of the marketing composition necessary to acquire customers and increase sales. This concept is closely related to the concept of the marketing mix, which distinguishes four basic and necessary elements of the complex process of marketing: product (product), price (price), distribution (salaries) and promotion (promotion).

Elements of marketing – interesting facts you need to know!

The above four basic elements of marketing are listed under the 4P concept, which has been used for decades. Over time, it was expanded with another "P", i.e. people, and another concept - 7P - expanded it with two additional elements: material evidence (physical evidence) and process (process).

It's not everything. You may also come across other classifications of marketing elements. This is, for example, the 4C concept, distinguishing factors such as cost, value for the customer, convenience of purchase and communication. In turn, the one called 7C lists the following elements: content, context, credibility, continuity, coherence, information channels, clarity.

As you can see, the issue of systematization of marketing elements is not clear-cut. Various approaches can be presented here. It should be emphasized, however, that the basic concept that marketers refer to most often and which is still not becoming obsolete due to its simplicity and relevance is 4P marketing. He proposed such a composition already in the 1960s Edmund Jerome McCarthy, one of the pioneers of marketing theory.

Elements of marketing – the most important information

Let's move on to explaining the four basic elements of marketing according to the 4P concept.

The first one is product understood as goods, but also services offered by companies. We need to know what type of products or services we want to sell, what their quality, functionality, design and unique features should be so that they respond to the expectations and needs of recipients.

The next element is price. Determining the appropriate product price is very important because it affects customers' perception of the product's value and competitiveness on the market. The price should be attractive from the recipient's point of view, but also favorable for the company in terms of profits. So you need to look for balance here.

The third element is place, i.e. the method of distribution. Here we decide how the product will reach customers. It is important to choose the right distribution channels to reach as many potential customers as possible and provide them with easy access to the product.

The last element is special offer, i.e. a way to reach customers and promote the offer. In this part of the marketing strategy, the company must decide what forms of promotion will be most effective, through what channels communication will be directed and to what group of recipients.

Summary 

The basis of a good advertising strategy is to properly analyze, develop and implement the above-mentioned marketing elements, in the right proportions. It should be borne in mind that these decisions depend on many factors, such as the budget, target group and the scale of the company's operations. Additionally, this strategy must be verified and adapted to changing market conditions, the current situation of the company and the expectations of customers. Undoubtedly, the appropriate use of all advertising elements can guarantee the company's development and measurable profits.

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