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The four P four concepts: One strategy First P: Product second P: Price third P: Square Fourth P: Advertising or sales promotion A product of low quality High price in relation to the competition Poor sales channels Zero or very low advertising strategy Price-product strategy square -Price
Four concepts: one strategy
Product, price, location and advertising: learn the theory of the four to do marketing.
By Rodolfo Urdiain
Marketing is a series of efforts to ensure that a product or service is received and accepted by a consumer market. The techniques on which it is based are varied and complex. One of them is that Marketing mix (Marketing Mix), a system for evaluating and making decisions about what to do and how to do it, so that the sales and marketing goals we set ourselves can be met in an advantageous manner.
Let’s start with the procedure. First of all, we have to learn that this technique uses something known as 4P of marketing, and that it is basically:
First P: product
This is what we want to sell, be it a service, an intangible good or a product with physical values. The product must be of high quality or have progress in innovation that is superior to that of the competition. Here we have to look at everything: from the production processes to the design of the product, its taste (if it is food), its manufacture and its quality to the packaging. The latter must be a reflection of the quality we offer, with a professional and appropriate or eye-catching design for the consumers we want to capture.
Second P: price
The value of the product we are going to sell is fundamental. If flashquotcaro flashquot is for people who buy what we offer, this may not be the case. It is necessary to compare prices with products similar to ours. We have to be competitive, we have to offer a reasonable price; If we give the product very cheaply, it can be considered poor quality, if we give it expensive, theft. So we find your fair measure.
Third P: Plaza
This refers to the places where we will sell our product and the distribution channels. The more places consumers can find what we offer, the more sales. It will be of little use to us to have a product of excellent quality and price if it is difficult to find it. It is very annoying for people to want to buy a product that is difficult to access. For example, if we make and sell a delicious coffee liqueur and someone wants to have a drink, someone buys the one they find most easily at a good price, is of good quality, and attracts their attention. If ours is not on the shelf, we lose a customer.
Fourth, P: advertising or sales promotion
At this point in the process, we will take care of telling people that we exist and why it is in their interest to buy our product. The job of advertising is to publicize a product or service in a particular market. We can accelerate the sales process through advertising.
The advertising we place must be of high quality to communicate the benefits and convenience of the product or service we offer and it must be broadcast in the appropriate media so that it can be viewed by the people from whom we know that you can buy our product, flashquotvista flashquot is. For example, there is no point in running an advertising campaign for our coffee liqueur if the people who see our ads are 11 year old children.
On the other hand, it helps us a lot if our ads are seen by young adults, and even more so if we offer a 50 percent discount at the start or a free snack bag when buying each bottle.
The 4 Ps are basic points and the marketing mix is how to use them to sell more. The perfect mix is 100 percent quality and effectiveness in everyone: high quality product, competitive price, places and points of sale close to the consumer as well as advertising and continuous advertising; However, if one of these points is not enough, the marketing mix helps us develop strategies to sell more. Let’s look at a few examples:
A low quality product
If we have a product that is not of high quality compared to the competition, the least we should base our strategy and sales efforts on is its quality. However, we can offer a lower price than others, sell our product or service in as many places as possible, and advertise in our advertising the benefits of a lower payment. For example, the opportunity to save.
High price in relation to the competition
Sometimes the high price can be a sales opportunity because the expensive one usually has the image of being good. If our product or service is of very good quality (in all aspects, from productism to packaging) and has a high price, we will perfect our sales channels to specialist shops that sell fine products. Here we can design our strategy on the basis of two points: product and price, use of advertising and less advertising, since the fine does not require gifts to be bought, but is only bought by being good and expensive. Let us deal with a high-quality sound in our advertising and communicate product properties that confirm the reason for the high price.
This happened with a whiskey brand that was very good, but at the time of its launch in the United States, it was competing with companies that had been in the beverage market for years and had production processes that helped to make the product affordable Price to sell. What did this brand do? In his advertising, he said simply and convincingly that his product was expensive. What did he say? flashquot It seems expensive … it is flashquot.
Bad sales channels
We have a good product, its price is competitive and we can advertise, but the sales channels we have are inadequate. If what we sell is offered in a few places, we face a big problem because if a consumer wants something and can’t find it, he’ll choose to buy another one. If the place is actually where the buyer offers our product, it is also possible that he will choose the competition. What should we do? Establish an advertising-based strategy that we use to communicate where the product is sold and the ability to purchase the offer even when it is not needed.
Let us know as many people as possible that our product exists. that it is very good and that you can get it at X or Y locations.
Some time ago, a rum brand was faced with this temporary problem and said so; He told us in his advertisement that this product is so good that it will be very difficult to get it: flashquot If you can’t find it, imagine how good flashquot is.
No or very low advertising
In order for a product to be sold or a service to be commissioned, the consumer must know that it exists, and this is done primarily through advertising. However, a strong media campaign also requires a lot of investment, capital that we often don’t have at first. So what should we do? Set our strategy and mix in other points that we consider strong in our marketing process, for example:
Let’s do tastings or product tests that show the excellent quality that we have. We pay special attention to the packaging, which is of good quality, which reflects the product, and we offer a competitive price that is even low compared to the competition. This can help ensure that the product or service we offer is consumed and recommended by those who have already purchased it.
Plaza pricing strategy
If our product can be found anywhere, in a warehouse or store and the price is available, the consumer will most likely be asked to buy sooner or later. Why? Because the product that is sold in most of the places where we shop often is a product that is similar to what we always buy that offers quality guarantees, and because the store or facility that it offers would never risk it Having something in your inventory that could undermine your image or reputation. It is a product that many companies sell at a good price, so it is a good product that is not expensive.
Every strategy depends on the creativity of the person who implements it. The truth is that the perfect mix is one in which all marketing points are excellent: product, competitive price, sale in many places and advertising supported by advertising measures. What we do depends 100 percent on what we offer and how we offer it. The magic is in the product. It is the product that is bought or not. Hence the main P is the product.
If our product is invisible to the eyes of the consumer, we cannot expect it to be bought by anyone. The magic lies in the product because the equation that is created for the marketing mix is based on it.
* *Rodolfo Urdiain He is the creator of the Neuron method and founder of the Neuron Creative Club, a club of advertisers aimed at customers of all sizes. Email: email@example.com