The four Ps of modern marketing
The four Ps (Product, Price, Promotion and Place), also known as the “Marketing Mix,” form the basis of classic marketing theory. For more than half a century, these four concepts have served as the pillars on which businesses could lay out effective strategies and plans. Making an impact in today’s digital world, however, requires a bit more flexibility. The foundations behind the four Ps still ring true, but modern businesses need to adapt them in order to make the most of a customer-centered market.
Today’s consumers are more informed than ever before, with 81 percent researching a product online before making a purchase. Staying ahead of the game means catering to their different needs, desires and purposes in a way that other businesses don’t. Consider how your product or service answers questions, solves problems or otherwise meets your prospects’ wants or needs better than anyone else. Use the answers to these questions to create a unique selling proposition.
Maine’s Best Tax Credit?
Emmys, Grammys, Tonys – what awards should we give for great tax credits? The Creddys?
I may not have a good name for the award, but I have a great nominee – the Maine Educational Opportunity Tax Credit.
What is the Maine Educational Opportunity Tax Credit?
It’s a credit on your Maine tax return, reimbursing you for student loan payments made.
The Bangor Savings Bank Foundation will allocate $100,000 to 68 nonprofits statewide, based on votes cast by Maine residents
BANGOR – Bangor Savings Bank Foundation began its annual grant-making initiative, Community Matters More, on Feb. 1. Through this charitable program, one of Maine’s largest independent banks offers all Maine residents the opportunity to weigh in on how best to allocate $100,000 the bank has pledged to give to 68 Maine nonprofit organizations across the state.
The voting period takes place during the month of February, and ending Monday, Feb. 29, with winners announced in April.
How to develop a buyer persona
Whether you are a B2B or B2C business, your success depends on the people who are purchasing your product or service. Your clients are just as diverse as their perspectives, needs and wants. This is why it is important to know who these clients are so you know how to best reach them. Before you can decide how to market your product or service, you need to develop a buyer persona – a model or prototype of your ideal buyers. To do this you must ask yourself a few key questions and do some research to find the answers:
Who? Who are your ideal prospects based on demographics? Where do they live? What is their income? Their age? Relationship status? Do they share hobbies or interests, motivations or attitudes?
Where? Where are your clients geographically? Where are they digitally? Where and how do they search for information? What social media channels are they using, if any? Where and how do they shop?
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