Autor: knottycolleague21
The 4 Ps and 4 Cs
Kotler and Armstrong define marketing mix as the “tactical
marketing tools” companies implement to increase product demand and create
positioning in the market (Kotler & Armstrong, 2014, pg. 54).
The illustration above shows the fish as the customer waiting for the product that is going to satisfy its necessities. The fisherman (Marketer) knows that the product has to be something of interest for the customer, otherwise, he will never get his/her attention. The Marketer has to offer a price that is according to customers expectations. Besides, the Marketer can use promotion to inform its customers about the product's benefits, and make sure its distributive capacity will cover the expected demand, this include the logistic to put the product in place where the specific market is concentrated.
Please, note that the illustration fish and man above is only an analogy to understand the concept of marketing mix better. The illustration shows the fish (customer) that falls into a trap, but this not happen in reality. The main objective of the marketing Mix is to transport value to customers, and this is achieved by using the “four Ps” product, price, place, and promotion. Additionally, the company’s marketing mix must be a reflection of the “fours Cs” customer solution, customer cost, convenience, and communication.
Please, note that the illustration fish and man above is only an analogy to understand the concept of marketing mix better. The illustration shows the fish (customer) that falls into a trap, but this not happen in reality. The main objective of the marketing Mix is to transport value to customers, and this is achieved by using the “four Ps” product, price, place, and promotion. Additionally, the company’s marketing mix must be a reflection of the “fours Cs” customer solution, customer cost, convenience, and communication.
The following example shows the 4 Ps, satisfying the 4 Cs with a Kellogg’s
product
Product
Kellogg’s regularly creates new breakfast cereals to satisfy customers’ demand.
Product
Kellogg’s regularly creates new breakfast cereals to satisfy customers’ demand.
Price
Kellogg’s intention is to add value to the new breakfast cereal, then, the company studies customers’ opinions about the product price and finally implement a price that works well for customers and generate profit to the company.
Kellogg’s intention is to add value to the new breakfast cereal, then, the company studies customers’ opinions about the product price and finally implement a price that works well for customers and generate profit to the company.
Place
Kellogg’s has to analyze where the cereal can be available to customers. Its options include, sell the product to wholesaler and let them distributed to retailers, or Kellogg’s can distribute it directly to retailers, or distributed directly to customers. The final decision might involve time, cost of transportation, distance between locations, storage capacity, and customers demand.
Kellogg’s has to analyze where the cereal can be available to customers. Its options include, sell the product to wholesaler and let them distributed to retailers, or Kellogg’s can distribute it directly to retailers, or distributed directly to customers. The final decision might involve time, cost of transportation, distance between locations, storage capacity, and customers demand.
Promotion
Kellogg’s wants to increase sells, so decide to communicate the product’s benefits through advertisement.
Kellogg’s wants to increase sells, so decide to communicate the product’s benefits through advertisement.
The following illustration shows more details about the four Ps.
Buss 306 Power Point Slide