Lesson 3: The 4 Ps of Marketing

What You'll Learn:
- Identify and explain the four key elements of the marketing mix.
- Apply the 4 Ps framework to a product concept.
Key Ideas to Know:
- The 4 Ps (The Marketing Mix): A classic framework used to get a product or service to the right customers.
  - Product: The actual item or service you are selling. What features does it have? What makes it special?
  - Price: How much the product costs. This affects who can afford it and what its perceived value is.
  - Place: Where the product is sold. Is it online? In a specific type of store?
  - Promotion: How you tell people about the product. This includes advertising, social media, and public relations.
What You'll Need:
- Your notebook and the product idea from the last lesson.
Activity: Apply the 4 Ps
- Using the fictional product you invented, answer the following questions for each of the 4 Ps in your notebook.
  - Product: What are the top 3 features of your product? What is the quality like? What is its name?
  - Price: What will you charge for it? Is it a luxury price, a budget price, or somewhere in the middle? Why?
  - Place: Where would your ideal customer (from Lesson 2) look for this product? A specific store? Online? On a social media marketplace?
  - Promotion: How will you get the word out? Will you use social media ads? Work with influencers? Make funny videos?
(Reflection): Which of the 4 Ps was the most difficult to define for your product, and why? How do the four Ps influence each other?