The foundation of our work is the 4 Ps. Product, Price, Place, and Promotion are critical to any…

The foundation of our work is the 4 Ps. Product, Price, Place, and Promotion are critical to any successful marketing effort. The 4Ps model is useful for most marketing arenas and applications.

Description

This activity is designed to help you recognize and describe the 4Ps in marketing in various arenas, and them compare the arenas against the healthcare environment.

  • The key to these exercises is completion! Your notes don’t have to be formal, but they need to be complete.
  • You can complete your notes in Word, PPT, Excel, or in your own handwriting.
  • Your notes don’t have to be exceptionally neat, but they need to be legible. Your notes can be scribbled quickly simply to capture your thoughts, but write them in such a way that your instructor can read them and verify your work.
    Note: If your submission is handwritten, simply snap a picture of your notes with your phone and turn in the photo file.

Note: Keep the tabled notes you just created for this exercise; you will need it for reference when you are prompted to expand on this activity on the next page.

Criteria

To begin, grab pen and paper, and complete the following:

  1. Write the words “Product,” “Price,” “Place,” and “Promotion” down the left-hand side of the page.
  2. Create three columns and label them “1,” “2,” and “3.”
  3. For the first and second columns, think of 2 non-healthcare-related products or services that are offered in your neighborhood and describe the product, price, place, and promotion associated with each.
  4. In the third column, describe the product, price, place, and promotion of a healthcare place, product, or service that you have experienced recently.
  5. When you’ve completed your table, answer the questions below.
    • Evaluate the the similarities and differences between the Products, Prices, Places, and Promotions of the products or services you described.
      *Focus on comparing the differences and similarities between the healthcare product or service and the non-healthcare-related products or services you described.
      • For each produce or service in your table, evaluate the effectiveness or attractiveness of the price, place, and promotion used to market that product or service:
      • Is the price fair? Is it clearly communicated to consumers? Or, is the price unpredictable and hard to identify?
      • What do you like about the Price, Place, and Promotion you described for each product or service? What is done well?
      • What do you dislike about the 4Ps you described for each product or service? What would you do differently?
      • Looking at the 2 non-healthcare related products or services that you described, what works that you could modify for use in healthcare marketing?

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