4Ps of Marketing – Simple Concept of Marketing That Each of Business Owner Must Know

Do you have something to promote? A product? A service? Do you want to promote it now?

The “4Ps of Marketing” is a formula to market a product so fast and easily, you won’t even have to refer to any other advertising formula for your product anymore. 

If yes, do you know how to make sure your product or service stays relevant in the market? 

4Ps Of Marketing Intro

Every product and service needs to be marketed in order to be successful. Everyone can start a business. The hardest part is keeping up and expanding that business. And marketing plays a big role in that. 

If you want to make sure your products stick at the back of your customers’ mind, follow these 4Ps when making a marketing material. 


What are the 4Ps Of Marketing? The 4Ps are:

Place

To market your product, you need to consider the place. Not the place you have been, but consider the place where your customers might look into or go.

Where do they usually go? Where do they find products?

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Now, when you got your answers, ask yourself this: is your marketing material suitable for that place? 


Do your customers frequent a high-end luxury store? If yes, then does your marketing material suit that place? If your answer is yes, then go it! But, what to do if your answer is no?

Neil Patel share his strategy for high-end luxury product in his blog post. Check it out here.


Consider changing your marketing material to suit the place your customers frequent. You can usually guess the places your customers go by their age.

For example, if they are teenagers, they are more likely to visit places that are fun like amusement parks or sports centers. 


A material that would suit amusement parks should look like a video or animation to catch their eyes but on a high end store, a quieter approach is more suitable.

So, consider the place of your marketing! 


Product

Next, you have to consider your product. Check your product right now, what do you see?

What is special about your product? How can your product give benefits to your customers? 
List down your answers and put it in your material! Isn’t that easy? 


The best marketing materials are those that are catered to your customers. Highlight how your product can help your customers live easily and happily. 


Do be careful, though.

Make sure you don’t overwhelm them with information. Keep your marketing material short and to the point, highlight the best feature and its uniqueness.


Promotion


You have your half done marketing material now. Look at it and think of your customers. Consider what kind of promotion technique works best for your customers

If your product is something that can be used, you can offer a demonstration to attract them. If it is something that can be consumed, you can offer a free sample! It all depends on your product, and how you can show your customers the benefits of your products. 


Demonstration might not work for a service promotion such as a tuition class, but a brochure will. A brochure might not work to promote an online application but a free trial will. 


If you sell a product to quench thirst, giving away samples at a place where people walk is great! They will be sure to be grateful with the free sample and remember your product at a later time.


So, take your time and decide what promotion techniques fits your product or service the best. 


Price

Last but not least, check your products’ or services’ price. Is it the standard market price? After that, check if it is in your customers preferred price range. 


If you check the price of your competitor’s and theirs is cheaper, do not worry. Competing by price is not a sustainable technique in business. So, consider putting an emphasis on how your product is superior in that field. 

When you execute your marketing campaign, you need to consider your maximum acquisition cost with relative to your product price to ensure you did not incur loss in a big amount. In one of the post, we explain on how you can calculate this cost.

Click here.


Your products and services might have something your competitor lacks. So, use that to your advantage.

Highlight those features and how the price is affordable and suitable for the service or product you offer. 

Aaand, there you have it! A complete marketing material that tackles all 4Ps Of Marketing to advertise your product. 


So, what are you waiting for? Start your marketing now and grow your business!

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Afif Rus
Articles: 64

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