Investopedia / Julie Bang
Any successful marketing strategy should be reviewed from time to time. The marketing mix you create isn’t meant to be static. Be tight and subtle as your product grows and your visitor base evolves.
The four P’s of marketing are product, price, location, and promotion. The four C’s update the P’s with consumer, cost, convenience, and communication. The four C’s are of a more recent vintage and are proposed as an option for the four P’s through Bob Lauterborn in an article published in Advertising Age in 1990. The four C’s are designed to be a more consumer-centric style that places more emphasis on the customer’s desires and desires.
To better perceive the customer (product), marketers expand the detailed personas of the ideal customer, for the purpose of better communication and sales. Cost (price) is from the customer’s point of view, that is, what customers are able and willing to pay. , adding “extras” such as taxes and shipping costs. Communication (promotion) shifts the focus from one-way advertising to interaction with customers, especially on social media. And convenience (place) is about improving the accessibility of your products. , making it less difficult for customers to purchase them.
There is now a uniform mix of marketing known as the four E’s: experience, exchange, evangelism, and everywhere. They highlight the importance of creating memorable reports and emotional connections between consumers and brands.
Apple uses the 4 P’s of marketing by focusing on:
Product innovation: evident in its uninterrupted progression of cutting-edge technologies such as the iPhone, MacBook and Apple Watch.
Pricing strategy: Apple positions its products as high-end offerings, aimed at a more affluent customer base.
Location: Apple is focused on distributing its own retail stores, online platforms, and strategic partnerships with legal resellers.
Promotional efforts: Apple emphasizes sublime design, user experience, and ambitious branding, creating a sense of exclusivity and appeal around its products.
The 4Ps style can be used when planning a new product launch, comparing an existing product, or seeking to optimize sales of an existing product.
Careful investigation of those 4 points (product, price, place and promotion) helps a marketer design a strategy that will effectively introduce or reintroduce a product to the public.
The 4 P’s (product, price, position, and promotion) have been a central guiding principle of marketing since the 1950s. Three new P’s expand the whole of marketing for the 21st century.
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Harvard Business School: Operations and Technology Management. “UNIQLO: What’s behind high-quality, low-price casual clothing?”
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Stevens and Tate Marketing. ” Introduction to the 4C marketing style and why you should follow it”.
LinkedIn. ” Evolution of marketing: from 4P to 4C to 4E. “