Understanding the 4 Ps

Interview Preparation Management
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Neil Borden popularized the idea of the marketing mix—and the concepts that would later be known primarily as the four Ps—in the 1950s. Borden was an advertising professor at Harvard University. His 1964 article titled “The Concept of the Marketing Mix” demonstrated the ways that companies could use advertising tactics to engage their consumers.1 Decades later, the concepts that Borden popularized are still being used by companies to advertise their goods and services.

When they were first introduced, Borden’s ideas were very influential in the business world and were developed and refined over a number of years by other key players in the industry. It was actually E. Jerome McCarthy, a marketing professor at Michigan State University, who refined the concepts in Borden’s book and created the idea of the “4 Ps,” a term that is still used today. In 1960, McCarthy co-wrote the book “Basic Marketing: A Managerial Approach,” further popularizing the idea of the 4 Ps.2

At the time the concept was first coined, the marketing mix helped companies account for the physical barriers that prevented widespread product adoption. Today, the Internet has helped businesses achieve a greater level of integration between businesses and consumers, and also to overcome some of these barriers. People, process, and physical evidence are extensions of the original 4 Ps, and are more relevant to the current trends in marketing.

Any successful marketing strategy requires revisiting over time. If you are developing a 4 Ps strategy for your business, it’s important to understand that the elements of the first marketing mix you create are not intended to be static; they are meant to be adjusted and refined as your company’s product grows and as your potential buyers change.