The purpose of an economic enterprise, is to bring back the argen t , but with stiff competition , and the market flooded with products, success becomes more and more difficult. This is why we must first implement an effective commercial strategy to attract as many customers as possible, and subsequently retain them. The commercial strategy must be complete, and global, to achieve this, there are many marketing concepts, among which we have the 4P marketing mix , which makes it possible to carry out the commercial analysis, in a balanced and complete way.
What you need to know about the 4Ps of marketing?
The marketing mix was first implemented by Philip Kotler, and Jérôme McCarthy . Currently,
there are the 7P, and even the 10P, but the basis remains the 4P.
This name means the top 4 policies to adopt for marketing
decision making. Which are cited below:
Product policy
It is everything that is interested in the product or service
presented by the company. These are all the characteristics and
properties linked to this product .
Price policy
It is just as important as the product policy, because the first
thing that attracts a consumer is
the price of a product. This policy depends on:
§
Target market ;
§
Product positioning;
§
Economic weight of the product.
You have to know, there are
different types of prices, that's why, it's complicated to define a single
strategy for all this policy, suddenly, it would therefore be wise, to opt for
a strategy for each type of price.
Distribution policy
As its name suggests, it concerns the distribution of the product,
and the logistical problems that
may be encountered. It encompasses all decisions concerning the markets in
which the product would be distributed. His ultimate goal is to value his property as much as possible.
The promotional actions policy
It takes care of the consumer, because any promotion policy is
logically intended for the latter. The decisions that will be taken within
this policy concern the way in which the company wants to promote its product . In
other words, it is the type of medium, that is to say: on what channels, in
what way (social networks, word of mouth ...), how often ...
What is the 4P marketing mix used for?
Before launching a product on the market, the company will
necessarily have objectives to achieve. These objectives can be financial,
or related to the image of the company. In either case, the ultimate goal
of the marketing mix would
be to achieve these goals , and to lead the marketing campaign
flawlessly. It is therefore essential to give each policy its degree of
importance, because each of them can act in a positive or negative way on the
achievement of the objective, especially since the customers are not all the
same, suddenly. it all depend on the
marketing strategy adopted , and the slightest flaw
can cause the company to lose customers .