New understanding of 4P marketing

The focus of this note collection is to understand marketing from the perspective of 4P, which are product, price, promotion, and place. I believe you will definitely gain something from reading this.

Edited at 2023-04-26 18:02:14

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New understanding of 4P marketing

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Outline

New understanding of 4P marketing

product

The first focus of marketing work is to create and manage products to solve the problems of what to buy and who to sell to.

Product management involves: product positioning, target customers, core functions, core benefits, competitors, etc.

Series products

product mix issues

Which products are used to fight price wars?

Those products are used to obtain high profits

Which products are used to build brand image

Price

Pricing is a strategic decision

Market-following pricing

cost plus pricing

skimming pricing

differential pricing

Perceived value-based pricing

promotion

past

Enterprise focus: single media return rate

Communication characteristics: integrated marketing communication

Now

Enterprise focus: media portfolio return rate

Communication characteristics: integrated marketing communication

Enterprises have entered an era of all-media integration and interaction. What marketing leaders need to build is a full-link integrated investment model that integrates media.

Example: Customer buys a car Morning: Open Moments and receive an advertisement: A new model of car A is on the market. You can enjoy discounts with the advertisement. Morning: Looking through the newspaper, I saw a half-page advertisement celebrating the launch of car A. With the advertisement, you can get a 50 yuan gas coupon. On the road: outdoor advertising. To celebrate the launch of car A, a dealer launched a lottery for customers. Car Radio: Play A Car Promotional Offers At work: Open your mailbox and receive a promotional coupon for car A Rest: Open Weibo and find your favorite celebrity interacting with car A...

In addition to advertising, new communication realities are increasingly becoming part of the brand voice. Communicate with customers in real time through comprehensive content marketing that interactively integrates corporate-generated content, customer-generated content and expert commentary.

channel(place)

Channel management requires enterprises to have strong appeal and organizational coordination capabilities. In marketing, it has the greatest variables.

Channel selection, channel policy and channel Geely Extreme are the core of channel management

Channels tend to be flattened, and three-level distribution has disappeared in large numbers.

New channels are emerging one after another, such as platform e-commerce, social e-commerce, and live broadcast e-commerce, forming a highly diversified channel

At the same time, there has been an integration of online and offline: micro-business based on social platforms and group buying based on communities have combined consumers and dealers into one. Consumers have become a new channel by recommending products to other consumers, which has greatly increased channel density

Current channels have two major characteristics: 1. Integration, that is, seamless links between online and offline channels and private domains, sharing the same inventory and customer service system, and customers can get a consistent experience from different channels; 2. Globalization. More and more distributors and large retailers are global companies. This requires companies to build a global channel management system accordingly and negotiate prices centrally instead of by partition.