Advantages Of 4p Marketing

The next step is communicating. It can be compared to promotion in the 4Ps approach, because it involves informing the customer on the offer. The difference is in information delivered to the customer. The 4Ps approach promotes and advertises the product, while the value approach - the value - product plus service, benefit, and enjoyment that can be received with the product. In addition, the value approach involves not only telling the customers how good the offering is, but also learning from them about their preferences and desires.

Marketing B2C Site, Compared to a B2B Site Introduction When a company uses marketing, the company is attempting to promote his or her products or services with the intent of being able to maximize ones profit and gain the confidence of the consumer. Within today’s society marketing having the right product or service can be difficult with being able to implement the marketing process and plan accurately along with being able to remove the potential obstacles. This paper will show and define the meaning of marketing with (B2B), (B2C), and compare how marketing differs between the two websites. Understanding marketing a company has to know the 4 Ps. When determining the difference in a B2C site compared to a B2B site one should focus on the 4 Ps of marketing which is Product: branding, warranties, packaging design and new product development.

Communicating refers to informing the customer of the offerings available. This correlates with the promotion element of the traditional marketing mix but, in the value approach, consideration is also given to the learnings that can be had from customers. That is, communicating is a two-way exchange between the business and the customer, as opposed to the one-way stream of communication from the firm to the customer seen in the traditional marketing mix. Delivering is closest in meaning to the ‘place’ element of the 4 Ps, as it refers to getting the offering from the business to the customer. The difference, however, is that in the value approach, the focus is of course on this process being undertaken in a way that maximises value, rather than simply achieving the task.

Price is what the company is charging its customers for the product. Place is where the company makes the product available to consumers. Promotion is what the company is doing to promote its product to persuade customers to buy it. First off, the four Cs are customer solution, customer cost, convenience, and communication. The four Ps basically describes the same principles as the four Ps but just from the customer’s perspective.

Marketing: “The activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.” My Definition of Marketing: Marketing is a way of expressing the wants and needs of customers. For an example, if you are trying to sell a product, not only do you need to use your own style/making but you are also focusing on the target market in which it is applying to. It is about creating a certain relationship with people that is not only giving the customer what they want, but showing that you have an actual interests towards them and that there is a reasoning behind why you are selling a particular item. Exchange: One essential

The process of developing, promoting, and distributing products to satisfy customers' needs and wants. Marketing include 4 Ps for marketing mix that is product, place, price and promotion. Product is the good, which is the company want to manufacture. Place is the place where the company sell the product. Price is the value of goods in the society and promotion show products to customers, e.g.

This assignment is about marketing, where I will produce a marketing strategy for a new or existing product. This unit introduces the major principle and functions of marketing; I will look on customer needs, and creating a suitable strategy or marketing mix, which will satisfy customer needs. In this unit I will experience the marketing process from carrying out initial research about a market, investigating the principles of functions of marketing and the way in which it contributes generating income/profit in a business. Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational goals. Marketing also involves analyzing customer needs, securing information needed to design and produce goods or services that match buyer expectations, and creating and maintaining relationships with customers and suppliers.

Developing a product, quality, design, features, packaging, customer service should all be considered. Price - This is the amount of money a customer pays in order to purchase the product. Price setting, discounting, credit and cash purchases are things to think about when setting the price. Promotion - Promotion is important because it’s a ways of communicating the benefits and value of the product to the consumers. It’s a way to persuade general consumers to become interested in the business and/or product.

What does the phrase marketing mix mean? What is the purpose of the marketing mix? The marketing mix is a process most organizations use to bring a product or service to market. The four Ps is a good way to define the marketing mix tool. The four Ps or four elements of the marketing mix are product, place, price, and promotion, which are used to satisfy consumers’ needs and the objectives of the organization.

Kotler and Armstrong (2014) stated that marketing mix is a set of tactical marketing tools that the firm blends to produce the response it wants in the target market. The marketing mix consists of four groups of variables- the 4P’s (Price, Product, Place, Promotion) The first element of 4Ps is Product. Yudelson (1999) defined product as all the benefits (present or anticipated) that the buyer or acquired obtains from the exchange. Product is the things that create by company and offers it in the business sector to fulfill shopper’s needs. The term not only applies to physical goods, but also intangibles such as service.