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The 4 P’s of the marketing mix: history, variants and evolution

Attract, attract attention, retain … These are some of the purposes that marketing seeks. Any company or business worth its salt must have a marketing strategy that brings positive results at all levels. To do this, one of the most common instruments, so to speak, is the so-called 4 P of marketing, very practical when it comes to preparing studies, analyzes and actions before launching a new product or business Sweden Email List.

But what are the 4 Ps of marketing? Product, Price, Distribution (originally “Place”, in English) and Promotion. These four terms perfectly explain how marketing works Sweden Email List, thus connecting with the concept of marketing mix. Let’s see in detail its meaning, history and evolution.

What are the 4 Ps of classic marketing Sweden Email List
As we said, the 4 Ps of the marketing mix divide the areas to take into account to carry out a good marketing strategy.

Thus, for a product or service to be successful Sweden Email List, these four pillars must be consistent with each other and with the target audience. How are they defined? Doing a previous market study that yields useful information when it comes to understanding and satisfying customer demands.

Each of these areas should have its own strategy, and the detailed breakdown of each of them would take a lot of time (and text), but, in essence, this is what you should take into account when addressing them:

  1. Product
    The element, without a doubt, on which any marketing campaign revolves. It is actually a very broad concept that encompasses not only tangible things (what is placed in a supermarket, for example, for purchase by the consumer), but also values ​​and ideas
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. A product is, for example, the corn cereals that you eat every morning, but also the packaging that contains them, the design of the logo that identifies them and the values ​​that your brand transmits. In addition, the product strategy includes other variables Sweden Email List, such as the possibility of generating ranges or families of products, and the characteristics of each one of them.

In any marketing strategy, the product Sweden Email List must be defined as well as possible, so there are a series of useful questions that we should answer:

What do I want / what am I going to sell?
What needs does my product satisfy?
What are the characteristics of my product? What are the benefits obtained from each of these characteristics?
What added value (s) does my product provide?
What is the ideal size of the product catalog in eCommerce: applying the BCG matrix

  1. Price
    The amount of money that the consumer must pay for the product or service that he purchases at any time. It is almost the first thing that consumers look at when accessing a consumer good. And that is why it is not an easy task for brands to set an appropriate price. It is, in fact, a question as important as it is complex in a marketing strategy.

How to set the optimal price in each case?

Conducting studies on consumer prospects.
Studying the prices of the competition for the same or similar products.
Calculating the benefits that we as sellers can obtain Sweden Email List, taking into account the costs that we charge to our products or services. Those costs will act as the lower bound for pricing.
In addition, it is interesting to answer these questions:

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What is the value of the product for the customer?
Are there standard prices established or strongly assumed by consumers for our product or for similar products?
By lowering the price of the product, will we really achieve a competitive advantage in the market?
What are psychological prices and how are they used in an online store

  1. Distribution
    Sales distribution refers to the process by which the product or service we sell reaches our customer (in this case we are talking about both wholesalers and end customers). It could also be understood as distribution of the product Sweden Email List or service, and it is a matter that will significantly influence our profit margin and final consumer satisfaction.

What must we analyze to carry out a good distribution? Variables like:

Where will our products or services be purchased?
Operation times.
Shipping costs.
Channels that are best for me to use: direct sales, distributors, online stores, etc.
How will the logistics for eCommerce of the future be: the vision of GLS Spain

  1. Promotion
    Talking about promotion is talking about all those channels or media that are going to publicize our product or service. This includes traditional media (billboards, radio or television ads, etc.) and, of course, everything related to digital media (search engine advertising, influencer campaigns, banners on a website, etc.)

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