Although this is still used in marketing today, even in the digital age. Yes, the 4 Ps (product, price, place, 26% promotion) are still relevant in the marketing environment. In any company in the world, you can have the best communication, but if your price or product is wrong, it won't work. Marketing teams are often asked to promote something shitty with good publicity, which also demonstrates the relevance of the 4 Ps in today's marketing environment.
He also noted that marketing is not based solely on advertising, with 26% promotion.