4P Marketing Strategies & How They Are Applied In Business

4P Marketing Strategies & How They Are Applied In Business
4P Marketing Strategies & How They Are Applied In Business

One of the objectives of marketing is to ensure that products or services made by the company are known to the public so that the company can later earn profits from its sales. Then it’s not unusual when a company is willing to spend a lot of money on making marketing strategies. The actual marketing strategy is not only for large companies, small companies should also have it, for example like 4P marketing. The term 4P marketing strategy (Marketing Mix 4P in marketing) is the foundation that should be benchmarked early on, when you are about to run a business. Especially for small and medium-sized businesses or SMEs that are increasingly crawling up in Indonesia.

However, the problem is some many are still confused dalam the application of the concept of marketing strategy especially UKM. Each element of this strategy strengthens each other and has a great impact on your business development especially SMEs in Indonesia. Whereas if only they would implement and implement well will help their businesses become more developed and advanced. Typically, the concept of a 4P marketing strategy is included in the material learned first in every lesson on marketing or marketing. Even from a long time ago, this marketing strategy has remained relevant. But of course, in the digital age that leaves businesses unfamiliar with these limits, strategies need to be more effective and targeted. For those of you who are still confused also about the bauran marketing 4P, article times ini will discuss the application of one of the concepts of marketing strategy to an undertaking.

4P Marketing Strategy

The real marketing strategy is not just for entrepreneurship large, small company should also have it, for example like 4P marketing strategy (marketing mix 4P in marketing). As its name suggests, there are 4 important variables in this marketing. Anything at all? Here’s his explanation of the strategy also known by the name of this 4P marketing. A 4P marketing strategy (Marketing Mix 4P in marketing) is a collection of tactical marketing tools consisting of:

  • Product (product)
  • Price
  • Place
  • Promotion

These four components or variables are combined to the desired response in the market. Then how do I apply it directly to an undertaking? Check out the following review.

4P Marketing Strategy Variables

The following is an explanation of the four variables 4P marketing strategy (marketing mix 4P in marketing):

  • Product

As a business operator, you should be able to make products or services received by the public. Some of you may be confused, what products should you sell? What product marketing strategies need to be tried? You can start with how to develop a product or service that one owns for the better. Ask your consumers for criticism and advice, then tamp all those suggestions and criticisms as a matter of consideration and improvement. In addition, you can also make any product or service of good quality. Good quality products or services will of course provide high satisfaction from consumers. On the contrary, poor quality of products or services will also disappoint consumers and they do not want to buy or use products or your services the second time. Some of the questions below can assist you in determining the marketing mix or 4P marketing strategy for the product are:

  1. What the customer wants from the product / service which do you offer?
  2. Will this product be able to meet customer needs?
  3. What features does this product have?
  4. What are the features?
  5. How and where will customers use it?
  6. What is the shape, size, color like?
  7. How is the logo or brand?
  8. How do I differentiate it with your competitors?
  • Price

Price is one of the sensitive things in a business. Generally, consumers will set prices as a benchmark to compare you to competitors. Thus, it is important that you determine a good price, because the price will have an effect on sales. Don’t let you misdetermine the price that makes consumers become disinterested in purchasing your products or services. Then how does a strategy determine a good price? To determine the actual price is easy, you can view the market price or by calculating the desired HPP and profit and so on. You can also use a simple accounting program in calculating and determining the price of your business products. The use of accounting programs is certainly more accurate than counters manually. In essence, the price you offer or set is preferably a reasonable price. In determining the price in a 4P marketing strategy (Marketing Mix 4P in marketing), try thinking about a few things below:

  1. Is there a set price point for products or services in this area?
  2. Will a slight price drop give you extra market share?
  3. Or will a small rise be invisible, and thus give you margin an additional advantage?
  4. What discounts to offer to attract customers, or to segments the other of your market?
  5. How does your price compare with your competitors?
  • Place

Place or place constitutes one of the P elements of marketing mix 4P marketing. Place or location is one of the pen factors It’s your business. Therefore choose the right location or appropriate one. It means choose a strategy location and right. A strategic location is a crowded one, traversed by many people. So that a candidate consumers and consumers interested as well as easy to accompany place of sale you. However, strategy alone is not enough, there needs to be a fitting or appropriate place word. Why is that? Because the place is strategic if not appropriate or fitting also has no effect whatsoever. Some things to note when choosing a 4P onsite marketing strategy:

  1. Where is the buyer looking for your product or service?
  2. If they search the store, what kind? At a supermarket, mall, or online?
  3. How can you access the correct distribution channel?
  4. What your competitors do, and how you can learn from them?
  • Promotion

Promotion is spearheading to introduce your products or services to society. With marketing strategy marketing mix 4p the good, then it is expected that sales will also increase. Now marketing or promotional activities are easier to nail right, you can utilize social media such as Facebook, Instagram, put up ads, sponsorship collaboration, following bazaar and more. To help You decisive Appropriate promotional tips, try answering these questions:

  1. Where and when could you deliver promotional messages to your target market?
  2. Will you reach your audience by advertising online, on the media, on TV, on the radio, or on the billboard?
  3. When is the best time to have a chromosome? Fit a holiday, or certain moments?
  4. How do your competitors do promotions? Whether to affect activity selection your promotion?

Benefits of Marketing

There are several marketing benefits that make it important for business:

  1. Helps understand what your product or service can offer your subscription
  2. Helps plan successful product offerings
  3. Assists with effective marketing planning, development, and implementation
  4. Help businesses harness their strengths and avoid costs that do not need to
  5. Helps to be proactive in dealing with risks
  6. Helps determine if your product or service is suitable for your customers
  7. Help identify and understand customer needs
  8. Helps learn when and how to promote And products or services to your customers.

Conclusion

That is the understanding and way of implementing 4P marketing strategies. Easy isn’t it? It doesn’t have to have a big business effort to implement a strategy This 4P. Precisely whatever your business is, it is a crucial thing to implement this strategy to the maximum but remember, no strategy is the same one and the other. Adjust location conditions, promotion targets, power buy consumers, up to your products with situations. Do not wears to lower or raise standards just for the sake of following other already preemptive hype businesses. Of course this research will not proceed easily. There is a trial and error process that needs to be done before actually finding the appropriate 4P marketing application pattern.

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