Are the four Ps of marketing always applicable?
When on the beach the other day an ice cream salesman induced me to think about the four Ps of marketing. How come that the classic “Marketing Mix” formula invented by Neil H. Borden 64 years ago, pops up in my mind when getting in contact with a man selling ice cream?
Well, in this particular case the four Ps of marketing became so apparent, and the success of the ice cream sales on the beach was impressive.
The Four Ps Of Marketing In A Nutshell
In summary, this happened on the beach:
1. A warm day like this one where people continuously are buying water, sodas, and beer, the sudden appearance of an ice cream offer in front of your eyes (well, mouth), it is hard to resist from a purchase. The first P which is the product.
2. The beach with difficult access didn’t have one single point of sales for ice cream. Probably because there isn’t any electricity facility on the beach, and impossible to get freezers to work. This ice cream seller solved it another way. He had his portable and manual freezing set-up, by using ice and salt to keep his product below freezing point. The second P is there. The place! This place is lacking completely from competition, and the place can’t be better.
3. If the starting point is that everybody wants an ice cream, everyone will buy one when the price is below the standard price in any shop around. The price is a P the salesman used to get almost no rejection when offering his product.
4. While all other beverages and food at the beach are sold by having the customer to approach a point of sales, our ice cream man used a completely different promotion technique. Direct selling! Using his ice cream trolly, he goes from customer to customer. The Fourth P, promotion, is working extremely well.
The Application Of The Four Ps Of Marketing
While enjoying my ice cream, which by the way was delicious, I started to think about if the four Ps of marketing can be used in any niche and for any product. I will let you draw your own conclusion, but the way of approaching the question should include the following:
• What benefits do the customer want from your product or service? (compare to the unique ice cream at the beach)
• Does your product fulfill these needs? (compare to the refreshing ice cream a sunny and warm day)
• In what way is your product different from the competition? (compare to the ice cream, competing with all sodas, waters, and beers)
• Where does your potential customer search for your particular product? (compare to the ice cream seller searching for the customers)
• What kind of interaction do you have with your potential customer? (compare to the ice cream direct selling technique)
• What is the value your customer perceives of your product or service? (compare to the ice cream approach with a low price strategy)
Is Online Business And Marketing Different?
The last and most interesting test is to figure out if the four Ps of marketing also applies to any online business or marketing.
Going through the above six bullet points, the answers could be summarized like this:
• Desired benefit: Freedom and flexibility to live life on your terms; the so-called laptop lifestyle. Possibility to write your own paycheck and earn an unlimited amount of money. The Six Figure Mentors allows you to make your dream come true
• Product fulfillment: By joining the Six Figure Mentors you’ll get access to a complete platform, covering everything from training, coaching, support to a digital platform to manage your business
• Different product: When joining an online system it’s important to include the entire package. It means that all parts are fully covered, from the support point of view to the technical part. With the Six Figure Mentors, you’ll get access to a system and a community where nothing is missed out
• Where do you search for an online opportunity: Online! Be careful with the shiny “get-rich-quick” offers. They do not exist more than in the wildest fantasies but can cost you a lot of money if you fall into the trap. Whatever system you’re joining, look after that a money-back-guarantee is there, and that real testimonies are validating the seriousness of the product
• Interaction: In the Six Figure Mentors there are multiple ways of interaction. Beside the scheduled training sessions and webinars, the community of the Six Figure Mentors is a unique and valuable tool. Here you can interact with people who are in the same situation as yourself and find answers to any question or doubt you might have
The Perceived Value Based On The Four Ps Of Marketing
The last point to analyze is the price and the perceived value:
• Perceived value: Only with the huge digital platform you’ll get access to, the value surpasses all expectations. Not so many years ago, your own business with the connection to a system like the one of the Six Figure Mentors would have cost you millions of dollars. Thanks to a large number of members the cost of being an affiliate of the Six Figure Mentor, doesn’t cost you more than a dinner at a restaurant. Further, you will always have the possibility to try it out for free the first month.
Of course, the list of checking points for the four Ps of marketing can be much more extensive. However, the six points revised here is a good start.
In the end, it’s all about your willingness to let it all happen. Nothing will happen by itself, even if the online affiliate program with the Six Figure Mentors induce to get as much as possible on auto-pilot.
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Jan O. Nilsson – How To Apply The Four Ps Of Marketing In Your Online Business<== Go to the top of page