Basic Concepts: Classic Mix 4p’s

A lot of people think of marketing as advertising, I am so sorry to disappoint you but it is not. In plain English marketing is a series of activities that we have to do to turn and idea into a product, create a necessity, deliver it, build a client relationship, listen, and evolve. Now I know what you are thinking, that is s%$# lot of work! Right? Yes it is. But it is SO important! A business would not be able to survive without it.

For example, did you notice that to open a box of a new iPhone takes about a second? Do you remember the suction? Well, the box has been carefully designed to create anticipation. So when you finally open it, you feel accomplished, you love it. That my friend, is marketing.

Mercadeo2

The first thing that we have to do is to define the classic model of the 4P’s: Product, Price, Placement and Promotion. The product is what you are offering, it could be a product or service. The price (In my opinion the toughest one to set) is the relationship between value and what people pays for it. Placement, or what I like to call it “Channels of Distribution” is basically how we get our product to our clients, and finally Promotion is where advertising, sales promotion, personal selling and social media take place.

 

We will review each one of this concepts using some clear examples to help you build up your Marketing Strategy.

Do you use the 4p’s in your business?

Thanks for reading and please feel free to leave a comment below

Peace,

Ricardo

 

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