In the early 1980s the extra three Ps were added on by Bernard H. Booms and Mary J. Bitner to reflect the needs of selling a service rather than just a physical product, but these days we marketers recognise the importance of service even for actual products so we always use all seven.

The model is taught on marketing courses around the world, often with equal weight given to each P. Yet, in practice, one is too often neglected: Pricing.

Bookshelves are filled with advice on how to create the right product, build a strong brand, or run effective promotions. You’ll find shelves groaning under the weight of titles about digital marketing, customer journeys, or retail strategy. But pricing? There are far fewer guides, despite the fact that it is the only P that directly generates revenue. Adjusting price is the easiest way for a company to control profit. Every other P represents a cost.

Even more importantly, the Ps are not independent silos. They are interconnected levers that shape how a brand is perceived. A change to one inevitably affects the others. And nowhere is this truer than with price.

Think about Apple. The product is sleek, elegant, and technologically advanced – it is a joy to hold in your hand. The place is carefully controlled – Apple’s own premium stores, a tightly managed online presence (where the web experience is also a joy), and selected resellers. The promotion avoids discounts, instead focusing on creativity, lifestyle, and the aspirational “Think Different” ethos.

The people – both Apple Store staff and customer service teams – are trained to deliver consistent, polished experiences. The physical evidence includes minimalist packaging, pristine retail environments, and the distinctive Apple logo. The processes are designed for seamless integration, whether that’s unboxing an iPhone or synchronising across devices.

I remember the first Apple phone I bought, and the shiver as I lifted the box lid to take it off – and the inner box slowly lowered itself into my hand. Even the box it arrived in had a massive attention to detail. When running marketing courses, I have often asked the question “Who still has the box their phone came in?”, and it’s not unusual to find most have more boxes than phones!

Now imagine if the price were budget-level, like a mass-market Android device. The entire brand story would collapse. Apple’s high prices are not just a financial choice – they are an integral part of the brand, reinforcing the perception of exclusivity, design and innovation.

Contrast that with Aldi. Its product is good quality but functional food and other items. The place is a no-frills store, with narrow aisles and limited stock. Promotion focuses relentlessly on savings, with many special buys. The people are efficient, moving quickly at tills to keep costs down. The physical evidence is basic packaging and straightforward store layouts. The processes are streamlined; limited product ranges, fast checkouts and efficient logistics. In Aldi’s case, low prices are not just consistent with the brand – they are the brand.

The same principle holds in other sectors. British Airways has historically built its positioning on service, safety and global connectivity. Its Club World and First Class fares are priced high to signal status and comfort. At the other end, Ryanair has stripped out frills in every other P – minimal service, quick turnaround, secondary airports – so that its low pricing makes sense. Neither could succeed if they swapped their approaches.
Understanding your brand position

Before you can decide on a pricing strategy, you must first be clear on what...


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