Marketing Mix Concept - 4Ps

Marketing Mix 4P | The 4P Strategy of a Product

Marketing mix 4p. In marketing, there are immortal topics that are still taught at the University. As a rule, what is taught in educational University is not interesting and certainly not practical.

That is why all marketers who come to us to get a job, usually “through the teeth” talk about their training. Although some University do exceed expectations.

And each topic is explained in terms of practice, not theory. I will try today to tell You the “not practical” theme as much as possible. Your attention is the marketing mix 4p, aka marketing mix 4P.

WHY IS IT NECESSARY?

You need to know the basics of marketing, which, again, is not always easy to apply in practice. But that will always help in choosing the right strategy and direction of thoughts.

And this, believe me is really important. It’s a shame after half a year to realize that everything was done in vain, and time is lost too in vain.

We study marketing mix 4p.

The marketing complex is a set of components from which all marketing is collected. Even easier, the concept of complex marketing can not even say, but I’ll try.

These are parts of marketing, each of which has its own load. Exactly like the four legs of a chair, removing one of them, we get the fall of the entire product.

Often this marketing mix is also called the 4P theory. Therefore, the comparison with the legs of the table is very useful.

The name is taken from the first letters of the main parts. And they sound as follows:

1. Product
2. Price
3. Place
4. Promotion

Initially, the main elements of the marketing mix were only the first 3p, without promotion. Then came the 4p, then 5p, 7p next. Do you think it?

No, there’s still 11p. For me, so it’s a complete mess, and everyone tries to find another relevant word in marketing for the letter P and supposedly come up with a new theory.

There is even an interesting reversal of this model. One smart marketer was indignant “ ” in the classical model everything revolves around the company, and the right marketing is the one that revolves around the client. Therefore, you need to add Client to these words.”

Since the word client begins with the letter “C”, and it is impossible to find a replacement for the word with the letter P, the model 4C was formed.

All this, of course, is good. But it doesn’t matter what we call a boat if it’s still a boat.

So we put everything in P — Pause and will analyze partially improved the classical version of the marketing mix 5p. For successful operation.

MARKETING SUPERMIX

The last letter we will add will sound like PR. In my personal opinion, it fully and adequately discloses all marketing.

Reveals so that because of these five words you will learn a lot of problems and ways that need to be worked out To your company reached a new level.

Importantly. This concept is applicable both for companies and for the study of individuals.

The practical application of the marketing mix on the example will certainly be, as I said.

Just be patient, I can not immediately tell you how to do if we are still in different languages. So come to my bright side and start to disassemble each of these mysterious “P”.

Product

If no one in the world has not finally determined which came first — the chicken or the egg. That within the classical complex of marketing everything is known for a long time.

First, the product is born. A product is a universal name for both a product and a service.

Everything is quite elementary To sell something, you have to understand what you are selling and what problem you are solving.

You must clearly work out your product or service, because God forbid, people will buy From you, and you have a bad product.

This means tons of negativity will pour Out on you in all possible spaces and, we can say, the business can be closed.

But in addition to its quality, which by default should be excellent, we must work within the product no less important components such as:

1. Assortment;
2. Size;
3. Appearance;
4. Packaging;
5. Characteristics;
6. Warranty support;
7. Color;
8. Implementation format;
9. Term.

This is not a complete and universal list of components that includes the product. Some of this should be removed, if you are working on a product something on the contrary you need to add, if you are working on a service.

Everyone will have their own list and will depend entirely on Your product.

By the way, now in the modern world people like to say that the first word “product” should be replaced by “problem solving” or “value for the customer (ideology 4C)”. Because logically, people buy not a product but a solution. That makes sense.

Only not always people buy “solution”, not always. Some purchases are made just for the sake of getting emotions. The value of this is also questionable. But I do not advise you to go into these wilds now, just think in the category of “Product”.

Price

“We are the best, because we have the lowest price!” – says the slogan of most companies. Not a bad strategy, but dumping competitors rarely benefit.

To get away from this competition. You need at least to study all about the commodity matrix, and work out the second P (price).

Now you probably thought that in this block we will talk about how to set prices? Yes and no.

We are solving two problems here: the first is strategy, the second is details. Let’s start with a strategy that may look like one of the following images:

1. Discount stores;
2. Steward;
3. Below the average;
4. Average;
5. Above the average;
6. Luxury.

You can call it all pricing. Items are written only for example, you can call them any other language by type: “Cheaper than the market leader.”

First of all, You do it for yourself, not for show. And be sure to consider competitors in this case, as they create a price corridor.

The next step in this unit, we are working on the details. After all, strategy is a General concept that does not reveal all the nuances, and they also greatly affect the decision-making, for example:

1. Price itself;
2. Installment;
3. Lending;
4. Discounts.

Although again, returning to modern practice, we can see that the price does not always have to be equal to the quality. This is an example of an Apple technique that takes “value” rather than quality.

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I do not want to say that it is bad for them, it is at their height. But if you start to study the market, we will see that the competitors it is not worse at a lower cost.

Place

Feel, as someone ” began to boil”?! Perhaps you already regretted, that began to to read this article, one theory. But a little more, gentlemen. You’ll understand soon enough.

And now the next component of the marketing mix is place. The place where you will sell your product, through which channel Your product will be delivered to the customer.

Moreover, when we talk about the place of the goods, everyone in the head immediately seems to be a regular store with shelves. And when all present services, then submit the order over the phone. But there are actually a lot of options for the implementation of the product.

And here are some of them:

1. Retail shops (profile, General, hypermarkets, supermarkets);
2. Home delivery;
3. Online store;
4. Distributors;
5. Sales representative.

As you may have noticed, there are much more product delivery options for goods, but you can also come up with something interesting in the services.

And usually if the implementation of services goes through the phone (in a separate office), you can also implement them through the “Islands” in shopping centers. This is what developers often began to practice.

Promotion

The easiest block that is easiest to learn is promotion. In fact, these are the ways and channels to communicate information to the customer about Your product.

Simply put, this is advertising, which is often confused with place, which is incorrect. After all, in this case, our task is to determine the types of advertising that we will use. To let the client know about you, learn about your unique trading offer.

Here you can have fun, as the battlefield is huge. You can choose the channels and methods of advertising on the Internet, you can choose offline promotion. And yet, for example, I will give a few options to make it clearer:

1. Contextual advertising;
2. E-mail marketing;
3. Seo promotion;
4. Billboards;
5. Promoters with leaflets;
6. Facebook targeted ads;
7. Advertising in the magazine;
8. Teaser ads;
9. The sound is in the super market;
10. TV;
11. Tasting in shopping centers.

As the saying goes:”All this and more.” It all depends on your target audience and the budget that is allocated. And it is usually not rubber, so you have to carefully approach this point.

And for you to invest your money wisely, be sure to read about how to choose the most effective advertising channels:

PR-promotion

That’s all about the ” mission of the company.” That is, in PR, we do everything that will promote our brand, our product, our company in the long term.

Moreover, this should be implemented both within and outside the company. And again examples, this time the last:

1. Company mission;
2. Corporate identity;
3. Conferences;
4. MEDIA;
5. Own magazine.

In other words, all this can be called the creation of the company’s brand. In practice, micro and small businesses are the last to touch this block.

Since this money is not here and not now. And this is the most important for many. But it is better to start immediately, slowly but surely.

FIE, ONE THEORY

I completely agree with you. All that has been written above, one theory that is needed only a marketer-geek (like what are in part I). After all, in life it is almost not applicable.

And you know, I also always thought so and, as already mentioned above, was angry at the training in University, until I started to apply it in practice. And this is the main problem-knowledge will give, and how to use will not say.

Marketing mix 4p

Marketing Mix | The 4P Strategy of a Product

The usage is quite simple and I can put everything in a couple of sentences. Although perhaps You now expect to see a check-list or quite large and descriptive text.

Now, don’t swear, just agree with the fact that all the most simple is the most effective.

If we decided that 4p in marketing, it’s like 4 chair legs. If one leg suffers, then the whole business is in a precarious position and constantly losing customers. So it is urgent to find the weak link and eliminate it.

Homework:

1. You need to take your company and spread it out into 5P,
2. then divide each P into small parts and subdivides.
3. Then analyze these components,
4. to identify the critical
5. and they set themselves the task of WHERE, what, WHO and in WHAT TIME will make to create the perfect company.

QUICK FACTS

“I regretted that I wrote this article,” I said these words to my colleague. But she encouraged me with the words:”the World should know the real marketing tools, not chips for show.”

I really often write about more practical methods, but I do not teach the basics, which, although it takes time to study and implement, but after them, companies can really breathe differently.

For example, if you come up with a new place of sale of goods, you will increase the turnover. Either You will open the discount centre from your company and will run circles around all competitors.

But we all know and understand that only 1 out of 50 of us will really work and implement everything. All others will be reading the other useful pieces of marketing in our blog.

Or all??? you need such themes? Give feedback in the comments, for me it is very important.

Natalie Profit

About Natalie Profit

I'm only interested in ONLINE BEST BUSINESS COMPANIES 100% Comission Only!. EZ BANNER INCOME reviews, Aiop reviews, All in one profits reviews, lead pages, Autoresponder, now lifestyle reviews, trafficwave reviews

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