One of the most well-known and popular marketing concepts is 4P (Pi), or the concept of a marketing mix. This idea appeared in 1964 when Neil Borden published his article “The concept of a marketing complex” (Ray & Yin, 2019). He tried to combine all the elements that need to be taken into account when drawing up a company’s marketing plan (Ray & Yin, 2019). This strategy is widely used in numerous fields of activities and brings about various benefits. This paper aims to view the 4Ps marketing model and determine how it can be incorporated into the role of an advanced practice nurse and how it can promote cost-effective care.
First, it is vital to define the essential elements of the marketing mix, which are product, place, price, and promotion. In the context of marketing, a product is an item or service that a company has produced to sell and make a profit. Its success directly depends on understanding the specific needs of the target customer that need to be met. In nursing, this criterion refers to the ability to perform one’s skills and demonstrate one’s strengths to the employer. In addition, it relates to having a license, certificates, and diplomas proving a nurse’s skills and abilities in the field.
The next element is the price which is the monetary value that the buyer must pay to purchase or own the company’s product. Several factors determine the price of a product or service, namely: the cost of the product, the price of competitors for a similar product or service, the relevance of the product to the consumer, and the expected profit from sales (Ike, 2018). The role of an advanced nurse practitioner is vital in the healthcare facility; hence, they can demand a more significant salary that correlates to the amount of work they do.
In the marketing mix component called the place, the product distribution model is considered. The product must be located in the right place and at the right time for the consumer to decide to buy it. It is necessary to determine the geography of the product and the planned expansion to other markets and territories. In the role of an advanced nurse, this aspect refers to specialization. It implies that a nurse can receive education or training in a specific field to become more competent and get a new position in a hospital.
Finally, promotion refers to all marketing methods that attract the consumer’s attention to the product, causing the need to buy and forming a general idea. Such marketing methods can be advertising, direct marketing, PR, and others (Ike, 2018). Professional promotion is essential for nurses, too, because they can demonstrate their most extraordinary talents (Benceković et al., 2019). For instance, they can present a decent resume to the employer and promote their work by mentioning their best qualities.
Marketing can promote cost-effective care by personal sales, which is a conventional technique of marketing medical services. This method allows for selling healthcare services or product directly from a provider to a patient. Moreover, with the ever-growing popularity of digital media, it has become more cost-effective for healthcare marketers to cooperate with their partners to conduct promotions (Benceković et al., 2019). These means allow for reduced costs on medications and procedures in healthcare facilities.
In conclusion, it is essential to note that the 4Ps of marketing can be widely applied in healthcare, especially in nursing. This marketing mix primarily refers to the nurses’ self-presentation, their ability to prove their competency and demonstrate the desire to learn. Besides, marketing is used to promote cost-effective care, that is, selling medications and services by using direct selling methods and digital platforms.
Benceković, Ž., Benko, I., Režek, B., & Grgas-Bile, C. (2019). The role and promotion of nursing. Acta Cclinica Croatica,55, 271-278. Web.
Ike, L. (2018). Marketing: Traditional, digital and integrated. Xlibris UK.
Ray, S., & Yin, S. (2019). Channel strategies and marketing mix in a connected world. Springer International Publishing.