What is a 4p marketing strategy?
The term marketing strategy is already familiar to the ears. This strategy will later be used as an initial benchmark in running a business so that it can grow. Especially for those of you who are just getting into the business world, you need to first know what a 4P marketing strategy or 4P marketing mix is.
The origin of the 4p marketing strategy
Neil Borden is the originator of the first 4P marketing strategy, this 4P marketing was originally inspired by the ‘Marketing Mix’ idea from Culliton around the 1940s. The 4P marketing strategy or 4p marketing mix is a collection of marketing strategies consisting of Product, Price, Place and Promotion.
The 4p marketing strategy is one of the most widely used strategies, as follows:
Product (product selection strategy)
You must have a product, be it goods or services that will be sold to consumers. Usually what is chosen is the item that is often used but there are still few people who sell the item
What you should pay attention to are:
Product design
Product quality
Product brand
Product packaging
Service
Warranty and returns
Price (price strategy)
price or price becomes one of the vital things in business. Just a little difference you can lose consumers. For that in determining the price you need to look at the price range of your business competitors. Usually what is used is to give a lower price, lower quality but not much different from other competitors so that in this way you get less profit (per product) but have the opportunity to get more consumers.
What you should pay attention to are:
Pricing strategy
Price discount
Easy payment options
Place (place selection strategy)
Place or place is one of the third important things in a marketing strategy. If you already have a great product at an attractive price but it’s still not selling well, then the problem is at its place. Clean comfortable place facilities can attract customers to come.
Promotion (promotional strategy)
Promotion is the spearhead of the success of a business, be it a small or large scale business. Promotion is an activity in business whose main purpose is to introduce a product or service to consumers. With the promotion of your products, consumers can widely know so that the demand and sales of the products you have can increase.
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