what is 4ps means
DEFINITION of 'Four Ps'. The categories that can be controlled in the marketing of a good or service: product, price, place and promotion.The four Ps, often referred to as the marketing mix, are all constrained by internal and external factors in the overall environment.Designs made in the product component determine the name, design and packaging of the good.price involves the cost of the good and if volume or seasonal discounts will be offered.he four Ps, often referred to as the marketing mix, are all constrained by internal and external factors in the overall environment.