Posts made in October, 2017

The 4 Ps of Marketing

»Posted by on Oct 17, 2017 in Marketing | 0 comments

When you hear the word Marketing, what is the first thing that comes to mind? Well, the first thing that comes to my mind is the selling of products. In a very raw and general sense that is all marketing is about. Product is given to the marketing department, and it is their job to sell it to the people and persuade them to get it. Marketing, however, is much more than that.   

 Marketing

 

There are many facets to marketing for Four Percent Review, there is research, merchandising, public relations, advertising, sales promotion, and selling. These are the facets that makeup marketing and going into detail about these facets would take a very long time, but one thing that needs to be stressed about marketing is the 4 Ps. This is one of the most important parts of marketing, yet some people are still oblivious to this essential part of marketing. Here are the 4Ps and why they are important to marketing.   

The first P of marketing stands for the place. The place is an important part of marketing because it shows businesses where to place their product or service. This is essential for marketing because as a businessman you need to know where to place your product to maximize profit properly.   

Making the most profit possible is the goal of any businessman, and you need to make the most profit in the place wherein your target market would most likely be in so that they will take notice of your service or product and will hopefully push them to buy the product. Choosing the wrong place would negatively affect your business because you are selling in the wrong place which will hugely affect the sales.  

The second P of marketing is the price. The price is one of the most important parts of a product or service. Any product or service that is priced correctly will surely blow up amongst the people and will propel your company forward. Without proper pricing, you would be garnering losses, or nobody would buy the product or service which would put the business on a decline when it should be going up. Marketing helps in pricing the product through research so that the price is set right.   

The third P is a promotion. This is one of the most important parts of marketing because it makes it known to the people about their product or service. It shows them through the ads that are developed by the marketing teams of businesses or companies that they need these things and without them they will feel some emptiness. This is one of the great points of promotion for businesses because it shows how much power and impact it has on the customers.   

Lastly, the final P is a product. This is probably the most important P of the mall because without a product you will not be able to promote anything or tag a price on something or even put it in a place to sell.   

The product may be intangible or tangible, and maybe it is even a service, the important thing about this is that you create a product catered to the needs of the people and will be of use to them. Local times is an advertising company that gives importance to the 4 Ps of marketing which will help your company prosper so get your marketing needs from this company.

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