Product, place, promotion and price have long been taught as the four P’s of marketing, but that doesn’t mean they remain the same today, particularly in the pork industry.

Steve Meyer, National Pork Producers Council’s director of economics, says the four P’s will have new roles in the future.

Product. Marketing begins when you chose the product, and that begins with customer needs. Specific to pork, some of the key considerations for this step include genetics, animal management practices and marketing weight ranges.

Place. This is an increasingly important market decision. Traditionally, most producers have raised pork “at home,” but this is changing as producers adopt various production systems and choose multiple locations.

The place involving how and where producers market their product also is changing. Whether it’s a packer contract, a cooperative venture or a self-contained value-added marketing system, the marketing place is changing.

Promotion. Advertising and merchandising are the two largest slices of the pie. Promotion has limits if you’re selling a commodity product, but if you sell differentiated pork, then it becomes a significant part of your marketing plan.

Price. This represents half of the revenue equation. While you still aren’t in the position to set your price, some marketing systems are getting closer. The goal should be to work toward selling at a price that meets your objectives.