Post by rabia373 on Mar 10, 2024 0:48:15 GMT -8
One of the most important pillars within strategic marketing planning , the Ps of marketing were identified in the s. Time has passed, however, they remain current and relevant. The expression refers to four important words, all of which begin with the letter P: product, place, price and promotion. But what does this set of words mean exactly? When the company studies each of these factors in detail, it becomes less complicated to develop efficient and assertive strategies towards the company's objectives . What are the Ps of Marketing? The Ps of Marketing refer to a concept that summarizes the fundamental foundations of any marketing strategy . They are part of the so-called marketing mix or marketing mix. In other words, they are elements capable of influencing consumer behavior and decisions, when managed correctly . Let's, therefore, get to know each of them, to understand how they work. Product A product is precisely what the company sells within its segment, aimed at meeting some consumer need . In other words, what it sells, it doesn't matter if it's a product, a service, software or the like. Analyzing your product within the Ps of marketing means that you need to clearly understand its differentiators, what makes it unique and special compared to the.
Because to survive in a fierce market, you need to win your customer's attention, and this only happens if you stand out. So what makes your product stand out from competitors? That's the answer you need to have. You should not market a product before studying your target audience. The path is exactly the opposite. Ideally, you should identify the problem that your consumer needs to solve, to develop a product focused on that. Therefore, you need to know your audience and your comp Whatsapp Number List etitors, to identify how you will be able to differentiate yourself from them and offer a better product . In other words, delivering exactly what your customer is looking for. Square The square, in turn, is related to the place where your product is sold . But then why do you need to study the market within the concept of the Ps of marketing? To know where your customer is and make your product accessible to them. In other words, the idea is that you define the square based on a preliminary study of your audience. If your audience is present in the digital environment and outside your geographic area, you need to develop tools to sell them primarily in e-commerce, marketing places, social networks, etc. Not just sell it online, but sell it online efficiently.
Therefore, it is essential to know the market, so that you have elements to study the best way to offer your product to the market . After all, you need to get to where your customer is . Price Regarding price, the name itself says it, it is the amount that the customer pays to purchase your product . Defining the price, within the concept of the Ps of marketing, is a challenge, because it needs to accurately reflect the value that your product delivers. The challenge is to reconcile the company's need for profit with financial viability for the customer. Therefore, it is necessary to identify what value is considered fair and which, at the same time, guarantees the survival of the business . But how do you know what the ideal price is? You need to study the market, the consumer, manufacturing costs . It is crucial to know how much your customer is willing to pay for your product and what sets your product apart from its competitors. Furthermore, you need to know the added value of your product, the way it positively transforms the consumer's life. Promotion Finally, we come to the last item of the Ps of marketing. Promotion refers to the actions developed to publicize and promote your product . It is the way you will communicate with your customer, to inform them that your product exists and that it is the best option among similar products.
Because to survive in a fierce market, you need to win your customer's attention, and this only happens if you stand out. So what makes your product stand out from competitors? That's the answer you need to have. You should not market a product before studying your target audience. The path is exactly the opposite. Ideally, you should identify the problem that your consumer needs to solve, to develop a product focused on that. Therefore, you need to know your audience and your comp Whatsapp Number List etitors, to identify how you will be able to differentiate yourself from them and offer a better product . In other words, delivering exactly what your customer is looking for. Square The square, in turn, is related to the place where your product is sold . But then why do you need to study the market within the concept of the Ps of marketing? To know where your customer is and make your product accessible to them. In other words, the idea is that you define the square based on a preliminary study of your audience. If your audience is present in the digital environment and outside your geographic area, you need to develop tools to sell them primarily in e-commerce, marketing places, social networks, etc. Not just sell it online, but sell it online efficiently.
Therefore, it is essential to know the market, so that you have elements to study the best way to offer your product to the market . After all, you need to get to where your customer is . Price Regarding price, the name itself says it, it is the amount that the customer pays to purchase your product . Defining the price, within the concept of the Ps of marketing, is a challenge, because it needs to accurately reflect the value that your product delivers. The challenge is to reconcile the company's need for profit with financial viability for the customer. Therefore, it is necessary to identify what value is considered fair and which, at the same time, guarantees the survival of the business . But how do you know what the ideal price is? You need to study the market, the consumer, manufacturing costs . It is crucial to know how much your customer is willing to pay for your product and what sets your product apart from its competitors. Furthermore, you need to know the added value of your product, the way it positively transforms the consumer's life. Promotion Finally, we come to the last item of the Ps of marketing. Promotion refers to the actions developed to publicize and promote your product . It is the way you will communicate with your customer, to inform them that your product exists and that it is the best option among similar products.