Investopedia / Julie Bang
Any successful marketing strategy must be reviewed from time to time. The marketing mix you create is not intended to be static. Be tight and subtle as your product grows and your visitor base evolves.
The four Ps of marketing are product, price, position and promotion. The four Cs reposition the Ps with consumer, cost, convenience and communication. The four C’s are of more recent vintage and were proposed as an alternative to the four P’s through Bob Lauterborn in an Advertising Age article in 1990. The four C’s are designed to be a more consumer-oriented style that places greater emphasis on the wishes and desires of the client. experience.
To better perceive the customer (product), marketers expand the detailed personas of the ideal customer, with the purpose of obtaining better communication and sales. Cost (price) is from the customer’s point of view, i. e. , what customers are able and willing to pay. , adding “extras” such as taxes and shipping costs. Communication (promotion) shifts the focus from one-way advertising to interacting with customers, especially on social media. And convenience (the place) is about improving the accessibility of your products. , making it less difficult for customers to buy them.
There is now a uniform mix of marketing known as the four E’s: experience, exchange, evangelism, and everywhere. They highlight the importance of creating memorable reports and emotional connections between consumers and brands.
Apple uses the 4 P’s of marketing by focusing on:
Product innovation: evident in its continued progression of cutting-edge technologies such as the iPhone, MacBook and Apple Watch.
Pricing strategy: Apple positions its products as premium offerings, targeting a more affluent customer base.
Location: Apple focuses on distribution through its own retail stores, online platforms, and strategic partnerships with legal resellers.
Promotional efforts: Apple emphasizes sublime design, user experience, and ambitious branding, creating a sense of exclusivity and appeal around its products.
The 4P style can be used when planning a new product launch, comparing an existing product, or seeking to maximize sales of an existing product.
Careful research of those 4 points (product, price, place, and promotion) helps a marketer design a strategy that will effectively introduce or reintroduce a product to the public.
The 4 Ps (product, price, position and promotion) have been a central guiding principle of marketing since the 1950s. Three new Ps expand the marketing landscape for the 21st century.
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