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Understanding The 4 Ps Of Marketing

Marketing originally began as a way for large companies to sell their products to the consuming public. However, with the advent of technology and the internet, marketing has taken on a new meaning. Today, marketing can be defined simply as a means of getting one’s brand or product into the public eye. While the marketing definition today has become more abstract, the foundation remains the same: that it is always about having a product or service in the consumer’s hands. However, in its purest form marketing is simply how businesses show consumers that their product or service is better than their competition.

Identify Characteristics Of The Target Market

In order to create a marketing mix, marketers will have to identify the consumer’s persona. For example, when I was growing up I remember being bombarded by television commercials. While some of these were obviously put together by clever marketers, most of them were designed to make me feel like I was part of the entertainment industry. In essence, marketing was part of my life. For some people, this creates a sense of loyalty and trust while for others it creates a need to escape from the daily grind.

Planning

As soon as marketers understand who their customers are and what type of marketing mix they should use they then begin to plan out their campaigns. One of the most important digital marketing job titles is a marketing plan specialist. In addition to traditional advertising such as radio and television advertisements, marketers will likely begin using social media such as Facebook, Twitter, and YouTube. These sites are great for generating a customer base and building relationships with potential clients and customers.

Testing

After a successful campaign is launched, marketers will want to test their promotion in order to measure the results. This is where we start to discuss the 4 Ps of marketing. The first one is, “market testing is the only way to find out what works.” It is important to constantly evaluate your marketing strategy to find out where you are strongest. By doing so, marketers can fine-tune their campaigns to achieve better results. They will also be able to pinpoint areas where they need to make adjustments to increase conversion rates or return on investment.

Market Research Is Key To Making Marketing Plans Work

Without market research, marketers will not be able to determine which campaigns are working and which are not. Market research is basically the foundation of any successful strategy. This way, when a new marketing plan is put in place, marketers know how well the initial plan is working before they spend any money or put their reputation on the line.

Marketing Plans Rarely Fail

If marketers don’t take the time to thoroughly analyze their marketing strategy, they could easily see that it isn’t effective. To make a marketing plan work, a comprehensive understanding of what they are trying to accomplish must first be achieved. Once this is realized, then the plan can be implemented. There is nothing that ruins a marketing strategy faster than if they were to implement it and find out it doesn’t work. With a comprehensive understanding of everything, marketers will know exactly what to do to turn their strategies into realities.

Advertisers Have To Be Proactive When It Comes To Using Advertising To Reach Their Consumers

Most people believe that the only times advertising comes into play for a business is when customers come into contact with their products. While this is true, it doesn’t mean that marketing has to stop when consumers come into contact with their products. Marketers should utilize all forms of media available to them in order to reach their consumers.

Conclusion

Marketing is not an easy task. It takes a great deal of dedication, creativity, and a lot of trial and error to be able to create a marketing mix that works. However, if marketers take the time to properly understand each of these four Ps, they will be able to successfully apply one or more of them to their businesses. Marketing is a necessary element in today’s competitive world, but only if used properly will it be able to provide a substantial return on investment. If marketers don’t take the time to understand how the process works, then they are doomed to failure.

 

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