4P marketing strategy is very important for the improvement of the business you are running. All business if you are not based on intention is just free. Running a business in modern times is not so difficult. In essence, only persevere and believe in yourself.
Surely the name of the business is certain that there will be ups and downs. There is no business where one trip will be immediately successful. Of course, you will feel losses, failures, and profits, and it keeps spinning.
But over time, these conditions will recover to the maximum. The existence of a loss condition gives you a lesson on how to run a business correctly from the previous one.
4P Marketing Strategy Concept Solutions to Grow Your Business
The 4p model marketing strategy is part of the marketing mix which is one of the marketing strategies for the company’s success in pursuing profits. The marketing mix itself is a collection of all the factors that companies can utilize to get consumers to buy their products.
Simply put, it is a mixture of many tactical marketing tools. The role of the marketing executive is to prepare the right combination to produce good synergy between the product and the audience you have targeted.
Moreover, this strategy will make a change in more people who know it. So do not be surprised if many companies, both small and large, have implemented this strategy. You will get abundant company profits, you can also achieve extraordinary money income.
To get to know the 4P marketing strategy further, here are some of them:
Product
In starting a business, the most important thing you should pay attention to is the product. Products are an important part of a business. But, products are not just focused on the physical, they include all aspects and intangibles, such as services, organizations, ideas, and personalities.
Product mix is the entire range of products that a company has to offer to its customers. Product mix decisions include design, features, brand name, quality, service, and many more.
Price
The second element of the 4P marketing strategy is price, which is the value that buyers must provide to get a company’s product. This is an important revenue-generating component for the company. The price element itself includes the value of the product or service, price comparison with competitors, promos, and benefits that can be obtained.
Promotion
The purpose of marketing strategy has two objectives, namely increasing brand awareness and persuading customers to buy the products and services that the company offers. Things you should pay attention to when promoting, including the time of implementation, media, and analyzing the steps of promotional competitors.
Place
The last marketing strategy is place or business location. Look for a strategic business place, one of which is for offline entrepreneurs. A strategic location is a crowded place that many people visit. There are several considerations in choosing a place, including the type of place, distribution channels, number of competitors in the business area, product handling, and logistics.
Now you already know about the 4P marketing strategy and its complete explanation. You can learn it and then apply it in your business journey.
