Four P’s Of Marketing To Boost Your Business

There are two main sections to the success of any business both offline and online. Knowing what your customers want now and will want in the future. Building a product to meet that requirement.

Secondly, you must be able to convince your potential customers that your product is the right choice.

To market your blog or business you need a mix of analytics, guesswork, creativity. Let’s take a closer look at the four P’s of Marketing to understand and implement them in your business.

Product

You must be able to answer the In’s and outs about your product. How does your product stand up against its competitors? Is it what your customers want?

The aim is to understand what your customer wants and build a product that fits their needs.

Price

Pricing products appropriately will determine whether it will sell or not. It’s always better to price your product a litter higher than what you estimate it to be.

You can cut prices by giving away discounts, whereas it’s virtually impossible to increase price later.

Place

By doing some initial market research, you can determine where your customer purchase. When it comes to the world wide web, customers can buy from Amazon.com, ebay.com and several other places depending on the products they are looking to purchase.

If you own a product, considering selling them in all possible locations is a good way to increase sales. This way you do not miss an opportunity.

Promotion

This is what is going to help your product “Get Found” online. What good is a product is no one has ever heard about it.

How will your customer find your product? Will they have enough information to make a decision? Considering these things will help you build a strong promotional campaign.

Understanding these points, You will be able to clearly define your business and make a good living online. Marketing the right way can get your business to speed with competitors.

This can prove to increase sales and revenue.

Bonus Guide To Build Marketing Plan

Here are 5 simple steps to help build a marketing plan

SWOT Analysis – One good way to get ideas is to fill out a SWOT Analysis. SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. There are hundreds of templates out there that you can download and use.

Download SWOT Analysis Worksheet by Mind Tools.

Target Customer – It’s important to know who your target customer is. Your target customer might be local or international. One of the best ways to identify customer type is by conducting surveys. You should look for things like customer’s location, the type of products they buy, gender, the purchase amount and more.

4p’s of Marketing – The Four P’s Of Marketing mentioned above.

Communication – You need to put your best foot forward to get the word out and to be found. People need to know who you are and what you are offering. Blog about your business, run a promotional campaign that would get peoples attention. Use social networks, email, build lists and much more.

Analyze – You will need to make sure that you are constantly monitoring your businesses performance and improving it and optimizing as you grow.

Make sure that you revisit your marketing plan at least twice a year to ensure that you’re still on the right track to success!