Welcome To The 4 marketing Ps Blog!

So you want to top up your knowledge in the marketing department eh? Maybe because you have an exam coming up soon in something like Business studies? or you just got that promotion you have been waiting and busting your butt for all this time! or quite possibly you have just realised that everytime you are out and about, you seem to be surrounded by all sorts of marketing tactics, deals, offers, sales, bargains etc etc. ready and waiting for you to pull out that hard earned cash....

Well I am glad you found my blog, as I have many many years experience in the marketing industry, working for some of the biggest fortune 500 companies in existance, managing and marketing all sorts of projects, and now it's time to share that experience, hopefully to benefit YOU and all other readers for years to come, so lets get right to it!

You will notice on the right hand side of my blog there is an archive of all posts I make, which are clickable, and will take you to the page of your choice. There is quite a collection to go through, so don't hesitate to bookmark and come back when you can, there is no time limit and we are not going anywhere!

Thanks For Stopping By,
Take Care,
Dennis.

PRODUCT MARKETING STRATEGY

Product marketing strategy refers to a marketing developing plan which introduces a new technical product. It can be a very exciting and challenging aspect of product launching and marketing for a product. However, it can also be painless, but at the same time very confusing only when we lose sight of our objectives. If you are interested in understanding how to create a product marketing strategy, well this article will help you with this endeavour.
Here are the essentials you must include within your product marketing strategy:

• Mission statement: this includes the manufacturing objectives, Corporate Mission Statement, marketing objectives and product development objectives.

• Customers: you must consider how many customers you have? What they are buying? What practical and emotional problems and issues are they trying to solve? What size of your market? What is the customer’s price point? What it takes to be successful in an order? How long would it take to be successful with a product? How does a customer use competitive products? What is the present happiness with competitors?

• Market Segmentation: you must include set customers (needs distribution, industry, and geography). In addition you must narrow and select the targets, label the segments, and consider the differences and similarities.

• Competitors: seek to understand what your competitors are doing at the present time? Where and how often do they advertise? What would be the nature of the sale presentation? What are their pricing? Distribution methods? The position they take? The reaction of the competitors towards threats? How do lesser competitors differ from the successful? Marketing share quota? Comparison to your company with threats, strengths, and weaknesses.
  

• Product position: it is necessary for you to differentiate your service and product. Remember the opportunity is out there, it is up to you to find it though. You must also describe your products and seek your customer’s interests.

• Understand your customer’s psychological needs.

• Market testing: that is you should display your promotional concepts and product to customers.

• Making strategic decisions: wherein you decide on new and improved revenue, profits and growth, new product development, pricing, distribution, service and sales force, customer’s psychological factors (not benefits and features), and on product promotion for all new products.

• Write an action plan: which must include a pert chart on product development, a calendar of planned media, and a budget.

• Implement your plan: you can hold daily meetings to review sales progress and leads. It is imperative that you provide a lead tracking system and revisit your plan and update when necessary.

The latter essentials are viable marketing strategies to help business owners when developing a new product. It is very simple to follow, however it is necessary that you carefully construct a product marketing strategy according to your particular product or service. Remember, this plan is the key to your product’s success, thus, it is imperative that you gather adequate information to help effectively organize your product marketing strategy.

Everything about the 4 p’s of marketing

Marketing strategies are a main back bone to any business. There are 4 Ps governs the whole marketing strategy and those 4 Ps of marketing are Product, Price, Promotion and Positioning. These 4 P’s of marketing will evaluate your strategy as weak or strong. Many biggest business giants also follow these four things in detail in planning their marketing strategy. This is the stepping stone to take your marketing towards success. If these 4 P’s of marketing are fulfilled in the required manner then marketing will becomes a floral path. Let us see in detail each one of these 4 Ps of marketing.

PRODUCT:

The product you planned to market should be of well in need by the public or your prospective customers. This is the reason why it is given more prominence in the 4 Ps of marketing. If it is not that much in need by the public then it is your marketing strategy first step to make it a must and should need by the public. This way of approach makes your next step of marketing quite easy and successful.

PRICE:

This is very much vital part of any marketing. Before marketing your product a wide range of survey should be done about the fixing the price for your product. This survey can give you an idea about competitor’s prices on the similar product. This way you can fix up on best suitable affordable price for the customers. This way you can make the whole marketing strategy successful. This is the reason why price is made part of 4 Ps of marketing.

PROMOTION:

When you are promoting your product all the necessary plans should be made towards the success of the product. This promotion should be in a way that all can accept your product in spite of being novice to them all. This way some discounts, gift coupons, gift galore should be introduced in your promotion. This way a product can be made familiar with the users. This is not only brings popularity to your new product also starts to accept it as a part of their life. This is the reason 4 Ps of marketing got importance in the whole marketing strategy.

POSITIONING:

Positioning is another important factor of any marketing strategy. This positioning makes the user to relate with the product very easily. Through this positioning one can access the product and its details. When this positioning is accessible it makes the customer to give a try. This way a product can be made more familiar to the customer base. This positioning also includes product as well as all product related details too. A novice product can be made interesting through the in depth details about that product. So positioning all details of the product within the reach of the customer can make it more popular.

This is the way 4 Ps of marketing got its importance in whole marketing strategy. If these 4 Ps are fulfilled in the explained way then whole marketing strategy will run towards great success. This is the reason why all the companies give more importance to the 4 P’s of marketing.