The 4Ps In the marketing strategy
No doubt that any business established has many issues related to many factors, Even business owners noticed that or not.
Nowadays I can't observe any business that can implement the target business without identifying its 4Ps in the market.
Unfortunately, many SMEs started with a big push in the market and achieved impact in their target market, rapidly this impact collapsed and the SME owners became in a confusing state. What happened? why?
The SMEs didn't identify their 4Ps at the beginning of implementing their business.
The 4Ps in the marketing (called Marketing Mix) represent:
Product
Place
price
Promotion
The product represents the service or the goods the business offers to the customers
what is the product looks like?
what is the package look like?
what does the brand represent?
what are the features you think will resonate with the customers? maybe relief and comfortable, maybe it can be used in specific usage?
what services are included with the product?
The place represents the placement where your customers can see your products and where you show your products to your potential customers.
Do you have resellers?
Do you have a brick-and-mortar store?
Where the products are stored?
Are you targeting the international market or local market?
The price represents your pricing strategy and how you will price your products?
Do you offer limited or special offers for the products?
Do you have a pricing strategy?
Is your pricing competitive?
Do you offer a discount or promotional code?
Do you offer refunds?
Do you offer a discount on the shipping?
Is your pricing affordable for your target audience? or we must retarget the potential right audience?
The promotion represents the channels you will promote your products and how to implement the strategy for creating the content?
do you have a content plan?
do you have a message strategy?
what strategy do you align to promote the product?
Do you have real customers with generated content?
What channels do you use to distribute the message?
By implementing the 4Ps In your marketing and business, you can start building your marketing strategy which will resonate with your marketing objectives.
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