4p's Of Marketing : Product, Price, Place And Promotion

The first P that the paper will address is Product. Professionals, researchers, and students of marketing must understand the importance of crafting the right product to satisfy the needs of the intended consumer. This P has a lot to do with the product, from design to production to distribution. This P also has a great deal to do with the consumer. Professionals and organizations of marketing must know the target consumer very well. When the marketing professional or marketing firms has an extremely clear concept of the intended consumer, they will be in a strategically stronger position to introduce a new product or service. (Ehmke et al, 2005)

The process of marketing involves the action of advertising and promoting a company, product or service. This includes everything the customer encounters in relation to the company, from advertisements to customer service experiences. Marketing is often broken down into four sections, known as ‘the four P’s of marketing’.

In this essay I will be writing about the Social Media’s impact on Global Business and the changing life lifestyle of human. Later in the essay I will write about the statistics which are showing, how Social media is a future of customer service. In present time social media is one of the most important factor which is impacting global business, now a days there is a revolution happening and there is a significant fundament shift in how we communicate today and social media is touching almost every aspects of our personal and business lives. The growing social media industry is generating jobs and also created a new branch of marketing and education.

In order for a business to maintain a competitive edge, they need to be able to understand in real time the needs of their customer base. With the advancement of social media, information that once was a trickle has now become a flood and businesses who want to remain competitive must be able to capitalize on information quickly. By analyzing data, businesses are better able to directly focus their marketing efforts and prices to gain their customers notice and stay ahead of their competitors (Savitz, 2012).

Social media marketing is relatively new to the ?integrated marketing communications systems of several public and private businesses.? (Mercadal, 2013, para. 2) Social media is used by almost sixty-six percent of American adults. (Lanham, 2016) Integrated marketing communications try to connect companies and other organizations with their target audience. (Mercadal, 2013) Therefore, social media marketing strategically looks at demographics of the audiences in each social media platform and use the platforms that match the audience who would be interested in products or services sold. (Smith,

The 4Ps make up a marketing mix - Price, Product, Place and Promotion. Nowadays, the marketing mix also includes several other Ps such as Packaging, People and Positioning. This essay focuses on

The 4 P’s of marketing, product, price, place and promotion, together these four make the marketing mix, They are mostly the main elements of marketing and most, if not all, of what you can control about a marketing campaign. These are a set of strategies to achieve an organizations objectives and make sure that customer needs are satisfied. Just like different organizations Rock Jam uses the most basic way of a marketing mix , and that’s considering the product, price, place and promotion. The product which is the artist, a record, a song, a concert, a T-shirt, a download, a physical CD, a ring tone, access to an exclusive online portal or fan club, these are the things sold. In fact, the idea of a music product has become increasingly

In today’s society, being a marketer there are various challenges they face. Firstly, technology is seen as an inactive object that companies utilise as an instrument for consumers to consume its usage (Berthon, Hulbert & Pitt, 2005, p. 120). The use of mobile phones today for example has enabled marketing content such as social media applications. Facebook, Twitter and Snapchat promote services to different demographics. Because of this there is no possible solution for marketers to keep up with segmenting products and services to different ages, genders, social class and many other groups. With the use of segmentation this leads to the challenge for marketers and relating this to lack

Currently, the business world is rapidly changing due to technology advancement. Every company needs to catch up to the latest trends to be able to survive in the industry (Olsen, 2005). Turning into the digital age, online marketing like social media are now being used in most organizations. It is a good opportunity for companies to apply digital marketing to their marketing activities since it is much cheaper and affordable than the traditional marketing methods. Moreover, online media will enable marketing team to get customers’ feedback about their products and services in real time and improve what negatively affects their company (Irwin, 2011).

Product, Price, Place and Promotion also commonly known as the 4P’s are the major factors or tools with which a firm or an organisation operates in the market by offering a superior value proposition to its clients and customers and thus earning value back from them in return to achieve the objectives of its shareholders. These 4P’s are combined together to form the marketing mix of a firm.

Having a successful marketing strategy is one of a company’s biggest challenges they face when marketing their products. A target market first needs to be identified, so that the necessary research can be completed on that market in order to identify the key factors that are part of that market which includes demographic information and all

The marketing industry is an elaborate network that links companies to their consumers, primarily through written communication. The main objective of marketing is to identify trends and patterns in consumer behavior, and utilize the data to influence consumers to purchase more goods. From a macroenviroment standpoint, the general conditions of a market are heavily dependent on global environmental factors. The most significant factor that influences the markets today is technological advancements. Since the release of Facebook, Linked-in, Twitter, and Myspace in the early 2000s, the number of people using social media has increased to over sixty-five percent. The ever-growing dependency on social media platforms, has given marketers the tremendous opportunity to further market potential consumers. Social media marketing is a specific form of marketing that focuses on producing ad content that social media users will post on their own networks. This particular marketing technique is effective because ads and content are created, based on what personal information users post on social media. Firms and organizations that advertise their brands on social media are more likely to increase their customer base and annual revenue. By doing so, companies are able to increase exposure of their brand and widen previous hidden, customer bases. As a marketer, the fine line between right and wrong is often blurred. The amount and

In today’s business world, social media is being discussed on a daily basis. This phenomenon has taken over the marketing and advertising industries and has changed the way they handle their efforts to attract customers. There is a big misunderstanding that social media are only popular networking sites such as Facebook and Twitter, but as defined by the Merriam-Webster dictionary, social media are “forms of electronic communication (as Web sites for social networking and micro blogging) through which users create online communities to share information, ideas, personal messages, and other content (as videos).” The rise of these online communities has given companies an opportunity to engage in conversations with their customers. This in

Social media is defined as a group of Internet-based applications which build on the platform of Web 2.0 and the contents of these applications can be modified by all users in a participatory and collaborative method (Kaplan and Haenlein, 2010). Social media creates a platform for companies to talk to their customers as a hybrid element of promotion mix. With the emergence of social media, the tools and strategies for companies to connect with customers have also changed (Mangold and Faulds, 2009). To adapt with the emergence of social media in the marketing, companies should have unique insights about these significances (Quan-Haase and Young, 2010). The significances of social media embody three main aspects which are technology, decision-making and purchase behaviors of customers.

There is no doubt that the customer is king because without customer, there is no business. Today, brand can easily attract or lose customers. With the increasing number of social platform and numbers of creating account, customers’ voices are raised among social media, web sites or forum. In fact, we can observe that, nowadays, customers don’t hesitate to question brands, to congratulate, to criticize and even to require that brand deliver them messages adapted to their profile and their interest. Particularly with