4 P's of Marketing
By: Charlie fletcher
the Principles to marketing:
Product- What does the customer want from the product Add to My Personal Learning Plan/service? What needs does it satisfy?
Place-Where do buyers look for your product or service?
Price-What is the value of the product or service to the buyer?
Promotion-Where and when can you get across your marketing messages to your target market?
Things to consider when making a product; quality, design, features, money covering costs, expenses, packaging, customer service and any sales services. these will make what you sell have a reputation and build the brand.
Things to consider when choosing a place to sell; distribution, location and methods of getting the product to the customer. these are all based around logistics, cost, and target audience.
Things to keep in mind; price setting, discounting, credit and cash purchases as well as credit collection. These help make what you will sell more or less available to people you want to pick a median price for the highest and lowest a person would pay. you have to remember to make a profit!!!
Things to help promote your business; methods such as advertising, direct marketing, personal selling and sales promotion. These are your more common terms for when you think of marketing. Basically the whole goal is to communicate the benefits and value of your product to consumers in a way that intrigues and sticks in their heads.
A New Look at the 4Ps of Marketing