Marketing a Product - Research Paper Example

The Four P’s of Marketing College: The Four P’s of Marketing Marketing is the process of communicating with potential customers in order to give them the value of a product or service. In dayto day life, the 4 p’s act as the link between the materials that customers require and their economic ways to respond to such requirements. For marketing to be effective, there should be building blocks to serve the purpose. These blocks are termed as the four P’s of marketing (Lamb, Hair & McDaniel 2008).

They include product, place, promotion and price. This discussion is based on the four P’s in Nike Company. This is a company that specializes in sports wear like sports shoes and shirts, but our discussion will be based on marketing of Nike shoes. Below is a logo of Nike where all Nike’s products bear this logo. As a product, all shoes manufactured by Nike bears its logo. The logo distinguishes Nike from other companies’ products. The logo is attractive to the clients and stands out as the best athletics wear (Lamb, Hair & McDaniel 2008).

In some cases, the client feels proud when wearing the shoes since it instills self confidence. As such, Nikes products cannot be compared with other rival companies such as Puma.Also, place stands out as part of the 4p’s of marketing. Nike products are made in Nike town. This is one company where every single detail reads Nike. On the other hand, Nike shoes are distributed by Nike stores as independent distributors who are located in different countries globally (Teece, 2010). In this case, the creation of different places to sell their products makes it easy for many people to access these shoes.

Thus, there is a possibility of clients getting a Nike shoe across the globe.The price is also part of the 4 p’s. Given that Nike is an already trusted and established product, their shoes can sell at the highest dollar. As a result, Nike uses cost-based pricing. Also, Nike shoes price is competitive in nature to outshine their rivals in the sportswear (Lamb, Hair & McDaniel 2008). The pricing is a premium segment based and targets customers while pricing utilizes vertical integration such that at the lowest level there are more operations compared to upper level.

Promotion is also outlined as an essential part of the 4 p’s of marketing. Nike has excelled in its promotions and their print promotions are simple but they give a very powerful message. For example, Nike can use an athlete to advertise a new brand of shoes. Also, Nike sometimes sponsors sporting event with the aim of promoting its products (Teece, 2010). Another strategy the company uses is to eliminate displaying prices in their advertisements. This is done to avoid discouraging customers from buying in cases where a brand that is in demand is costly.

Thus, the quality of its products, range products and its unique marketing technique keep Nike shoes at the peak of all other shoes from other companies. In conclusion, it is clear that Nike has won the trust of many people who use its products. Nike is able to supply shoes to its customer globally due to its marketing strategies and this has led to Nike surviving in the competitive venture. This has been achieved through product promotion and Nike has excelled in product promotion by utilizing the four P’s.

References Lamb, C. W., Hair, J. F., & McDaniel, C. D. (2008). Essentials of marketing. Mason, Ohio: South-Wester.Teece, D. J. (2010). Business models, business strategy and innovation. Long range planning, 43(2), 172-194.