The 4P’s of Marketing.
As I stated in my previous posts talking about marketing strategies models,the 4p’s is one of them also refered to as marketing mix it includes Product, Price,Place and Promotion.
Now let’s discuss Product
This may be a physical product or it may be your service proposition.
The key here is that something is developed that people actually want to buy.
Some businesses begin with a product and then try to force that on an audience.
If there is no demand for your product and no one is interested then you will not be able to create demand.
What does this mean for digital marketing?
The key considerations here from a digital perspective are around whether your product can/will sell online.
Now questions to consider before launching your product are;
☑️What channels are open to you for your product or proposition?
☑Are there opportunities to make it flexible to be more appropriate for the online or mobile audiences?
☑Does it provide real value for the consumer and is it differentiated from your competitor offerings?
☑Is it being updated, serviced, maintained effectively to keep it strong?
☑Are there features of it that can be added or should be excluded for the digital customer and is it fair to do this?
An example might be a music album. Three people buy an album. John buys a CD, Maria downloads the album and Robin streams it.
All are different consumer behaviours and each person will use your music in a different way.
John may proudly display the album on a shelf as he is a loyal fan.
Maria may delete some other music from her phone to free up space for the new album.
Robin may put the tracks into separate playlists in order to cultivate his collection according to genre or mood.
Finally Understanding the different motivations and usage habits for these products is vital to getting your marketing right in the digital age.
What are some of your strategies? share with us on the comments section.
Instantswitch is a tech company focused on creating winning brands by using well calculated strategies to increase value both to the consumers & brand owners.
Talk to us Today
0708 59 4499 or 0719 24 1286
Instantswitch,
Digital solutions Redefined
View more here Instantswitch Enterprise
