All you need to know about 4 P’s of marketing
Marketing is very essential in today’s world. When you want to see a particular product in the market, to make people aware of the product all you need to do is to market that product. There are various strategies of marketing too. You should know the exact way to market your item that you are trying to sell, so that customers get attracted and want to buy your product.
In store marketing is all the marketing activities carried on inside a store. It includes displaying your goods or products, merchandising, promotions etc. In store marketing allows that you can reach you customers at the most important time. In store marketing should be used when you want your customer’s attention and when you plan to reinforce your brand. Every major brand makes use of in store marketing to make their customers aware and to educate them about their specific products.
The Four P’s Marketing which many brands or shop owners make use of to sell their products are ‘PRODUCT’, ‘PROMOTION’, ‘PRICE’ and ‘PLACE’.
It is important that the business should produce the products that people want to buy. It is also important to decide the type of market that they are aiming at that is the age, income, geographical location. Then they have to differentiate between their products so that it is different from the products that are being offered currently. They have to think that how they should make their products different from the rest so that customers will get attracted to it and want to buy it.
Promotion means that the customers should be made aware that such a product exists. You don’t expect customers to purchase your products when they don’t even know about its existence. The two main things that you need to consider over here are target market and the cost. You can place advertisements in the newspapers, distribute leaflets or pamphlets to promote your products.
The price should be high enough to cover your costs and to make a profit, but it should be low enough so that customers can be attracted to it. Sometimes you can also charge a low price, not for profit but to gain a position in the market. Sometimes you can also charge high but this is not for profit, this is to show the customers that your product is of a higher quality.
The business should be in such a place where there are lots of customers available and ready to buy your product.
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