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Learning Reflection

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The four P's are part of what is known as "The Marketing Mix". The four P's represent the rules of what makes for a successful product.

The Four P’s are: Product, Place, Price, and Promotion.

In terms of a retail product, these principles are fairly straight forward and are self-explanatory. But in terms of a service, where there is no traditional tangible product but rather a result of services rendered, you have to ask how you would apply these principles.

A specific service that I use for a good example is Netflix. There is no tangible product, since the entire service is data streaming in the form of shows and movies. Netflix is a marketing genius. They have been able to put Blockbuster out of business, and have expanded into nearly all markets of electronic delivery available! They are available on several gaming platforms, on demand applications built in to hardware, computers, tablets, and even mobile phones. All while they maintain a non-physical presence.

In the beginning, Netflix offered DVD's by mail for a cheap monthly price, as many movies as you could watch, one at a time...and the price was less than 2 movies rented ONE time...for only 24 hours at Blockbuster. Blockbuster failed to change and move on with the times, and they got greedy...Netflix capitalized on the opportunity, bridging the gap, and with low overhead. Blockbuster could not compete.

Netflix had excellent product base. The products were already developed! They simply have to become a distributor, and get the products to the people. Placing the product is not an issue. The product will sell themselves through HEAVY advertising campaigns by the producing companies, and Netflix had to simply advertise its services to deliver these products once available.
Price is a no-brainer. Netflix starts at only 8 dollars a month, with unlimited viewing, and it has such a broad base

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