Answer to Question #210384 in Marketing for Abubakkar shah

Question

1.    What are the four Ps of marketing? What insights might a firm gain by considering the four Cs rather than the four Ps? 

Need detail ans

Answer 1

The four 4P’s of marketing include product, price, place, and promotion. The 4 C’s of marketing, which consist of Consumer wants and needs, Cost, Convenience, and Communication, are arguably much more valuable to the marketing mix than the 4 P’s. They concentrate not only on marketing and selling a product, but also on maintaining communication with the target audience throughout the process.

The customer's wants and needs are the first C in this marketing mix. The first C, rather of focusing on the product itself, focuses on filling a void in the customer's life. This marketing strategy is critical for companies that want to learn more about their customers. It becomes lot easier to build a product that will benefit your customer once you understand them. The cost is the second C in this marketing mix. Don't get your product's cost mixed up with its pricing. Price is only a minor part of the total cost of a client purchasing a product. It's crucial to figure out the total cost of your goods to the customer, not just the price. Cost encompasses not only the price of the item, but also factors such as the time it takes for a consumer to travel to your location in order to purchase your product, as well as the cost of petrol to bring them there. Convenience is the third C in this marketing mix. In the 4P marketing strategy, convenience is equivalent to "location." These two, on the other hand, are vastly different. The term "location" simply refers to the location where the goods will be sold. This marketing strategy is far more customer-focused when it comes to convenience. After you've evaluated your customers' shopping patterns, you should be able to tell if they prefer to shop online or in stores, as well as what they're willing to go through to get your goods. The overall cost of the product will influence how convenient it is for your target market. Communication is the fourth and final C in this marketing mix. Communication is always crucial in corporate marketing; the 4 Cs would be ineffective without it. Communication is comparable to the fourth P, promotion, but it is not the same thing. A product's promotion is used to persuade buyers to purchase a product. Promotion is frequently deceptive and ineffectual. Communication, on the other hand, is a customer-focused approach to the work of selling items. The buyer and seller must engage in order to communicate. This marketing plan is simple to adopt with the help of social media.