Place – Often you will hear marketers saying that marketing is about putting the right product, at the right price, at the right place, at the right time. It’s critical then, to evaluate what the ideal locations are to convert potential clients into actual clients. Today, even in situations where the actual transaction doesn’t happen on the web, the initial place potential clients are engaged and converted is online.
How to Use the Four Ps of Marketing?
We have developed a dedicated marketing process often used with our web design and social media clients. As a part of this process, we incorporate the four Ps through a series of questions designed to help define each brand’s marketing mix. Here are just a few of the questions we use:
- What do consumers want from your product or service?
- How does your product meet those needs?
- Where do potential buyers look for your particular product or service?
- How do you differentiate from your competitors?
- What is the perceived value of your product or service?
- What current interactions do you have with potential clients?
Of course the list we use is more complete, but we hope the few questions listed above can give you a good starting point in understanding the four Ps.
We hope this quick overview of the 4 Ps of marketing provides some insight into a critical aspect of successfully taking a product or service to market. Clearly defining product, price, place and promotion must all be considered when developing a marketing strategy for any product or brand. Whether dealing with a startup or an established business, balancing these four elements is critical to marketers working hard to position a particular product or brand in the marketplace.