A 10-4 On Marketing
Have you heard the latest Marketing buzz? Just when you thought you were really smarter than a fifth grade, look again. Brushing up on the latest buzz should be number one in your itinerary. Is that a 10-4? Ok, that is talking in codes-just like CB talk, which are terms that those operating CB radio used mainly during the CB craze of the 1980s.
To be considered a true blue Marketing person, you must keep the 4Ps embedded in your heart and soul. These 4Ps make up the coveted Mix – Product, Price, Place and Promotion. This is a process for communicating and delivering offerings that have value for a given customer or client.
A further explanation of the 4Ps can help a company or any business establishment to cater to a customer’s needs and wants. The Product aspect of this field focuses entirely with the specifications of the actual product or service and how it can relate to the customer’s requirements. Price, on the other hand, simply details the cost or amount of a particular product or service. There are instances when price could be intangible – exchanged for time, energy or even attention.
Place or Distribution is all about determining the right venue to bring a particular product or service to the end-user. The last P is perhaps the most exciting one since it deals with Promotion. This tests the company’s creativity in making their products or services stand out among other ones that belong to the same category.
Have you grasped the fundamentals on Marketing? Is that a 10-4?