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posted on:
1/23/2012 10:38:03 AM EST
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The 4 P's of Marketing
home based business, entreprenuers
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The 4 P's of Marketing
1. Product - It can be a physical good or service
2. Place - Market exposure
3. Promotion - advertising, sales promotions
4. Price - flexibility, discounts
PRODUCT area is concerned with having the right product for the target market.
Product area also includes branding and packaging.
PLACE is concerned with getting the right product to the targeted market place.
The product is not much good to anyone if it's not available when needed.
PROMOTION involves salespeople, training, advertising, publicity.
PRICE involves considering the competition in the target market.
To do marketing successfully you must constantly study the market environment.
You must provide the customer a supreme value.
You must also be able to adapt to changes.
A prime example of a company not adapting to changes is Eastman Kodak. Technology advances left them in the dust.
Implementing the 4 P's should bring measured success.
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 | | Thanks for sharing your thoughts on this topic Patricia, your example of Kodak is an excellent one of not adapting to change, I bought 2 Kodak digital products and was very unhappy with them, never again. I bought them based on their brand name that had been built over many years, but has been lost in the digital age. |
| | |  | | The world changes quickly... one's network marketing company needs to be ready and willing to stay current with the trends. Change is the only consistency. |
| | |  | | Great information. Another company that comes to mind regarding not adapting is Bethlehem Steel. |
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