If you search on google about marketing and what marketing comprises, you are going to hear a lot about 4P’s. 4P’s are the fundamentals of marketing and it consists of, you guessed it, 4 P’s which are place, price, product and promotion. Let’s discuss it one by one.
First comes the product. Restaurants sell foods and drinks and they are able to sustain themselves through these sales. If enough people come to the restaurant within a month and all of the expenses are covered, then the restaurant goes into profit.
Then comes the place. Where you place your restaurant determines how expensive or cheap the rent is going to be. You need to do good marketing research before searching for a location. Opening a pork-styled restaurant in a neighbourhood of vegans is not going to work.
We move on to the price. Price is determined by where the restaurant is located as well as various other factors. If your restaurant is opened in a high-class area, you can charge a premium price on the menu dishes. However, everything else should also live up to the potential such as excellent customer service, nice decor and ambience, ample parking space, great food quality and taste and so on.
Finally, we come to promotion which basically means advertising. What are you doing to make sure that people know about your restaurant? Without advertising, your reach will be limited to your friends and families alongside people close to that area. Therefore, in order to reach more people, you need to heavily invest in marketing your brand.
The other 4P’s especially in the service industry are People, Programming, Partnership and Physical Evidence.
Follow me on social media:
Facebook – https://www.facebook.com/hospitalityexpert101/
Instagram – https://www.instagram.com/hospitalityexpert101/
YouTube – https://www.youtube.com/channel/UC4_1lKKUN
Website – https://www.hospitalityexpert101.com/
![Hire Dan Lowes | Speaker Agent Contact Details [Video]](https://video.getpvd.com/wp-content/uploads/2025/03/mp_225117_0_Dan20Lowes20Hero0webp.jpg)
![STARTING A BUSINESS + CREDIT INFORMATION #credit #business #motivation START YOUR BUSINESS TODAY [Video]](https://video.getpvd.com/wp-content/uploads/2022/08/mp_142880_0_0jpg.jpg)
![Tahiti Tourisme Names Vaihere Lissant New CEO [Video]](https://video.getpvd.com/wp-content/uploads/2025/03/mp_224973_0_CEOofTahitiTourismeVaihereLissantjpg.jpg)
![5066, 5072 Hoblitt Lane N, Florence, MT (MLS #30041824) [Video]](https://video.getpvd.com/wp-content/uploads/2025/03/mp_224979_0_110839390418e7347de100522a8b7dc44288f374df7ljpg.jpg)