The Four Ps of Marketing

What are the four Ps of marketing? And how does an agency strategically use these four notions in their social media marketing and digital marketing strategies? 

Product | Price | Place | Promotion

Product or services 

When it comes to marketing products or services, a company has to consider the product and services itself, the audiences wants and needs, and messaging of these goods. 

This can sound like an obvious part of the four Ps of marketing, but when it comes to marketing these products or services, make sure to have a strong product or services that are created with your audience in mind. 

Learn Hub provides some of the best questions to ask yourself in the first stage of the marketing strategy! 

• What does the customer want from this product/service? 
• How does it fulfill their needs? 
• What does is this feature missing?
• What does it look like? 
• How is branding? 
• How will it make their life better or their company better?

If you are marketing to Vice President, Chief Marketing Officers (CMOs), Directors of Marketing, C-Suites, and other management-level audience members about your products, how can your product or service provide relief of their duties? What smaller or larger tasks can you provide to them? 

Each member of your target audience will purchase products or services differently from your company. 

It is important to take into consideration these different marketing personas to understand their needs and wants. 

Once this is solidified in the beginning strategies, moving forward, consider the price of the products based on its value to your audience. 

Price

It goes without saying, price and product go hand in hand. However, price and value can mean different things to different people. The value needs to mirror the price of this product. 

If you are a natural stone distributor to clients who are searching for luxury stone products, it is important to provide the best products to make the price. If customers continue to feel as if the products are not worth the price based on value, this can show a decline in the purchasing power of products/services. 

Place

Where your customers are might be one of the most critical parts of a digital marketing strategy. Not only in a physical sense, but in a social sense as well. 

There are two different areas of focus when it comes to the place of the product/ services. You have the physical location of the product, and on the other hand, there is the social aspect which is the placement of the product/ service in the digital marketing realm. 

The physical aspect of this marketing strategy is the storefront of your business, where this product is sold in other stores, and how you deliver this to the market. Once this is understood whether it is a local product in local stores or a niche market that will only be sold in grocery stores, it all matters because this should be based on where the customers are going! 

When it comes to the digital marketing aspect of this, it is important to pick the best social media platforms that your consumers are using on a daily basis. The same can be said for SEO strategies because consumers turn to the Internet first. 

The right keywords, messaging, social media platforms, and other aspects of this can be the driving factor in the digital realm. 

At one point in time, place only meant a physical place, but it can now even mean having those products on Amazon or having services on your website! The final step of the four Ps of marketing ties all of this together. 

Promotion

Promotion ties everything together. Combining the knowledge of who your customer is, what they want, the value your product, and where they are, fine-tunes a digital marketing strategy.

Social media marketing and SEO have certainly made the promotion of products and services easier! From the very beginning launch through the lifespan of the products, the promotion never stops, which means getting it right is critical. 

In the digital realm, there are hundreds of different ways to promote your products, and with all of these options, it can be difficult to understand where, when, and how to promote your products. 

This is why it is important to hire an Omaha social media marketing team to help you navigate this marketing strategy and even implement SEO strategies. 

Hire us! 

Monstrous Media Group is a leading creative management firm in Omaha! We provide social media marketing, SEO, website design and development, and other digital services. For more information and a consultation with our team, contact us today!