Marketing

“The 4P’s”

Marketing

The desired effect in marketing is reaching your customer.

Successful marketers will generally accomplish whatever needs accomplishing in order to reach their client.

Constant attention towards your customer is the best way to ensure that this occurs.

“The 4 P’s” Marketing is usually divided into four

different sections. These four sections are

known as “the four P's.”

The four P's of marketing are: Product,

Pricing, Promotion, and Placement.

From these four P's, most organizations or

individuals can come up with a marketing

plan that suits their needs.

Product

The first P of marketing is for the

Product aspect.

This involves the specifications of

the product or service, and how

this relates to the consumer's

needs and desires.

Pricing The second P of marketing refers to the pricing

element.

In any exchange of goods and services, payment should be expected.

Knowing how much to properly charge for a given product or service, often driven by economic factors like supply and demand, is key to an organization's success.

It is this sole reason why the pricing aspect of marketing is of great importance.

Promotion

The third P of marketing refers to

Promotion of the product or

service.

This means advertising and

promoting the brand, service, or

product, insuring that the potential

consumer is targeted and made

aware.

Place The final P of marketing stands for the

place or distribution of how the product is moved from organization to consumer.

This is the most technically involved P of marketing because it generally employs the most external factors, such as retail outlets or shipping servicing companies.

Marketing Plan Once an organization determines its four

P's, a marketing plan can be developed.

Marketing plans are essential if organizations expect to grow or maintain their competitive advantages in the marketplace.

They are especially useful when trying to determine whether new markets should be entered, or how to fix problems in current market conditions.

Plan continued…. In most cases, the marketing plan is a heavily

researched, heavily detailed document, written in the most professional manner possible by member of a marketing department or an outside consultancy.

Organizations normally make these plans public information after production and internal distribution.

It is for this reason that it is essential for marketing employees to understand their competitors, their customers, and where they are trying to go as an organization in the future through marketing concepts

Finally, Finally, having a marketing

plan means having a

marketing strategy.

Firms that plan for the future

are generally in a better

position than firms that do not.

In addition, firms that concentrate on

marketing can dominate a market over the

competition.

Through the proper planning and

understanding of marketing concepts, profits

can be generated in no time.

Because as we all know…

It is all about……….

Yes! The Money!