The 4P’s & 4 C’s in Marketing | The Optima Kart - World's Largest & Cheapest Online Mega Store
It consists of everything that a company can do to influence demand for its product. The four Ps of marketing: product, price, place and promotion Promotion: advertising, personal selling, sales promotion, public relations The four Ps of the marketing mix can be reinterpreted as the four Cs. They put the. Attract more customers using the 4 C's in your business Presented by: What are the 4 C's • Difference between 4 C's/4 P's • 4 C's examples in business; 3. Common SMB Acquisition and Retention Tactics • Email marketing. services marketing and customer relationship economics Kent refers to the Four Ps of the marketing mix as “the common cause that no stakeholder ( consumer, seller, .. Cs to the 4 Ps”, Marketing News, 24 December , p.
There is more of a give and take between buyer and seller. Looking at advertising as this form of communication can help a marketer understand their market better and increase sales and customer loyalty.
A customer is not bound to actually go to a physical location to meet a need and there is an endless variety of places online to do so. This means that a marketer needs to be aware of how a particular customer group likes to make their purchases in order to make it convenient for them to buy.
And get regular tips and tricks on topics such as marketing, financing, strategy, and management, so you can start and grow your company more successful. This model can also help a small business take on bigger and more established competitors.
The key point, repeated often, is to remember to identify and understand target consumers as well as their needs and wants. The next step is to offer tailored products and services that are meaningful to the customer and can lead to increased sales. A very easy way to use the model for an entrepreneur is given below. There is a simple template that can be used as well as a few key questions to ask.
In the next column, a benchmark organization can be used to compare.
This can be a top competitor for the organization and one it aspires to beat. The last column can be used to highlight actions that can be taken to reach the desired position in the market.
Customer What is the competitive advantage? What are their needs and wants? What is the product or service worth to the consumer?
Is the customer driving all decision making? Cost What is the price you mean to charge the customer? Has there been adequate research to determine this amount? Is this figure reasonable and affordable?
Understanding the 4C's of Marketing Mix
Is the figure profitable for the company? What is the total cost that a customer will incur when acquiring the product? What considerations apart from price will encourage a customer to buy?
Is the value of the product to the customer enough to support all the costs? Communication Is there a communication plan in place to ensure meaningful customer dialogue? Is the link between this communication and resulting customer confidence and sales understood? Is there a plan to adapt communications to each of the target markets?
Convenience What are potential barriers a customer may face in locating and purchasing a service? How do you plan to remove these barriers? Under the new model, we must sell what the customer wants. The old Marketing Mix looked at the 4Ps of marketing — product, price, place and promotion. Whether you are thinking of setting up, starting or expanding your business or selling any product or service, these four elements should be top-of-mind all the time: Exactly what product or service are you going to sell to this market?
- The 4P’s & 4 C’s in Marketing
- Marketing Mix 4C’s
Define it in terms of what it does for your customer. How does it help your customer to achieve, avoid or preserve something? Exactly how much are you going to charge for your product or service, and on what basis? How are you going to price it to sell at retail?
Simplify the process your customers have to go through in doing business with you. Make your customers feel good about complying with your business process. Consider rewarding your customers for complying with your business process and for their loyalty to your business. This will prevent your customers from seeking convenient solutions elsewhere, especially from the competition. You do not just make your target audience aware of your business; you build rapport and relationship with them.
Understanding the 4C’s of the Marketing Mix
Make your communication more personal. Take advantage of the power of the search engines to reach your target market. Make your site search-engine and user-friendly. Find out what social media sites your consumers are hanging out often. Join the social networking site s.
Familiarize yourself with the culture and language of the social networking sites you are joining or have joined. Upload optimized content that allows you to 1 attract your target audience, 2 build rapport with them, and 3 engage your audience. Increase the engagement of your audience and maintain your interactive communication with them. You can do this through: Make your content responsive.