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Wednesday, 10 February 2016 14:27

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.

Product

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.

Published in The Marketing Edge
Wednesday, 13 February 2013 14:54

The four P's of modern marketing

For more than half a century, the four P's Product, Price, Promotion and Place have formed a cornerstone of marketing theory. However, today's IT-savvy consumers are informed and empowered, with nearly endless options in fact, through research and online dialogue, they carry out much of the marketing process on their own. To keep up, businesses need to adapt and integrate the four P's in order to make the most of a customer-centric environment. So, let's take a look at these four classic pillars of marketing as they pertain to today's market.

Published in The Marketing Edge

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