6.1.1.2. Components of a Marketing Program

A well-structured marketing program comprises of four essential components: product, place, price and promotion, collectively known as the four P’s of marketing. These elements and their unique integration within any marketing strategy constitute the marketing mix. 

Product: Product refers to the distinct combination of goods and services that fulfill a customer’s wants or needs. It encompasses items, services, ideas, locations, or organizations produced based on market knowledge and ultimately offered for sale. In the realm of foodservice, products encompass everything on the menu, alongside various service options like cafeterias, vending machines, catering services and desirable attributes such as ambiance and convenient operating hours. 

Place: Place involves distribution and the manner in which products are made available and sold. Products must be accessible at the right time and place, ensuring convenience for customers. Many foodservice operations today cater to customer preferences for speed and convenience. For instance, large hospitals often deploy mobile cafeterias or kiosks in nursing units during busy lunch hours to accommodate medical staff with limited breaks. Additionally, many establishments are adopting food court setups akin to those found in shopping malls. 

Price: Price denotes the monetary amount charged for a product or the aggregate value exchanged by customers for the product’s benefits. Strategic pricing strategies not only encourage customer purchases but also contribute to the product’s perceived value and competitive positioning in the market. 

Promotion: Promotion encompasses all communication efforts directed toward customers. Its primary objective is to introduce customers to a product or enhance their awareness of its availability.