The Four Ps

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Mapa Mental sobre The Four Ps, criado por Jamie Abbey em 08-07-2016.
Jamie  Abbey
Mapa Mental por Jamie Abbey , atualizado more than 1 year ago
Jamie  Abbey
Criado por Jamie Abbey aproximadamente 8 anos atrás
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Resumo de Recurso

The Four Ps
  1. Why are the four Ps so important?
    1. The 4 Ps basically summarize the entire concept of marketing.
      1. Putting the right product in the right place, at the right price, at the right time.
        1. These Ps act as a basic outline of what needs to be accomplished for any marketing effort to be successful. The difficulties lie in obtaining the information and implementing the idea.
          1. This process is sometimes called the marketing mix
            1. The Ps
              1. Product/ service
                1. The key requirement of this stage is that the product or service must fulfil a consumers need and do that better than any competiotrs
                  1. The product phase is completed once the question, "what can I do to offer a better product to this group of people than my competitors" can be answered in detail.
                    1. During this section, several questions should be asked and answered
                      1. What does the client want from the service or product?
                        1. How will the customer use it? Where will the client use it?
                          1. What features must the product have to meet the client’s needs?
                            1. Are there any necessary features that you missed out? Are you creating features that are not needed by the client?
                          2. Place
                            1. The positioning and distribution of the product so that it is accessible to the target market
                              1. A strong understanding of the target market is vital for this step as a strong understanding leads to better ideas on how to reach out to them
                                1. The following questions should be asked and answered in this stage
                                  1. Where do your clients look for your service or product?
                                    1. What kind of stores do potential clients go to? Do they shop in a mall, in a regular brick and mortar store, in the supermarket, or online?
                                      1. How do you access the different distribution channels? How is your distribution strategy different from your competitors?
                                        1. Do you need a strong sales force?
                                      2. Price
                                        1. The price a consumer is willing to pay for a product. For them to pay for a product they must perceive that the products benefits are worth the cash in their pocket
                                          1. Prices cause the consumer to judge the quality of a product. A lower price generally means a lower quality inferior good while a higher price generally means a higher quality good.
                                            1. The following questions must be answered in this section
                                              1. How much did it cost you to produce the product?
                                                1. What is the customers’ perceived product value?
                                                  1. Do you think that the slight price decrease could significantly increase your market share? Can the current price of the product keep up with the price of the product’s competitors?
                                                2. Promotion
                                                  1. Promotion is all about getting your message out and has several different paths based upon your budget, the message you want to send out, and your target market,
                                                    1. Contains the elements of sales organization, public relations, advertising, and sales promotion
                                                      1. Advertising is typically paid communication methods, such as TV ads
                                                        1. Public relations typically is unpaid communication, such as a press release
                                                        2. These questions must be answered in this stage
                                                          1. How can you send marketing messages to your potential buyers? When is the best time to promote your product?
                                                            1. Will you reach your potential audience and buyers through television ads? Is it best to use the social media in promoting the product?
                                                              1. What is the promotion strategy of your competitors?

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