4ps and How the Firm Position Their Products for Maximum Competitive Advantage in the Marketplace

1455 WordsSep 24, 20116 Pages
Introduction Companies today recognize that they cannot appeal to all buyers in the marketplace, or at least not to all buyers in the same way. The reason are follow: 1. There are too many buyers, too widely scattered and too varied in their needs. 2. There are so many competitiors which focus on their connected customer. 3. Most companies have identifying market segments, selecting one or more of them, and developing products and marketing programs tailored to each. If the company wants to focus their target marketing, they must follow the three major steps: 1. Market segmentation, which is dividing a market into distinct groups of buyers with different needs characteristics, or behaviour who might require…show more content…
The 4Cs is include: • Customer solution • Customer cost • Convenience • Communication 1. Customer solution: the firm provide their products by analyze their customer needs. Meanwhile, firm provide is not only products and service, more important is the resulting customer value. 2. Cost----Price becomes cost to the customer. It includes the customers purchase cost, also means that the ideal product pricing. This should be lower than the customers psychological price, but also can let firm makes the profits. 3. Convenience: 4Cs emphasize firm should be consider more convenience of customers, not the companies themselves to facilitate. Through good pre-sale, sale and after-sale service to let customer enjoy the convenience when they shopping. Convenience is an integral part of customer value. 4. Communication----communicaion becomes promotion of the 4Ps. Enterprises should be actively and effectively with customers through two-way communication, the establishment of customer relationship based on common interests. This is no longer enterprise one-way promotion and persuade customers, but the communication between the two sides can be found in the same time to achieve their goals thoroughfare. How the firm position their products for maximum competitive advantage in the marketplace The first step is identifying a set of possible

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