Moving From The 4 Ps Of Marketing To The 4 Es Ontario Seo

From 4Ps To 4Es A New Look At The Marketing Mix That Matches Your Customers Expectations

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Moving From The 4 Ps Of Marketing To The 4 Es Ontario Seo

Author: Sivan Ravka, Marketing Strategy Specialist

The 4P marketing mix was first developed by E. This marketing mix is ​​used by companies to determine the main factors that consumers expect from them. Discovering these factors has helped companies communicate with their customers through advertisements. Even if you don't have a physical product, are selling B2B, or are just starting to think about strategic marketing for your startup, these aspects are worth considering because they make you think about your customers.

When the concept was introduced there were many physical barriers to reaching customers, this framework allowed companies to effectively utilize all their resources at customer touchpoints to overcome these barriers.

Today's marketing world has changed and the Internet has helped us overcome the physical barrier to build stronger relationships between businesses and their customers.

Marketing today is more customer-centric and travel-focused, and our marketing mix needs to reflect that.

4P:

Before we dive into the changes, let's take a look at the 4Ps.

Product – A product or service offered by a company. For a product to be successful, it must satisfy the customer's needs or wants. If there is a demand for the product, the company can make successful deals. This, of course, is still used, but E.

Price – the price customers pay for a product. Companies should consider supply costs, competitive pricing, discounts, as well as the actual perceived value of the product when pricing their product. It is a careful look at the relationships that companies must establish with their customers.

Location – where the product is sold – how it is distributed in the market. Bring the product to customers in order to buy the product at a high price. The investment strategy covers all investments, from macro to micro. From which store they are displayed, to display advertisements on the pages, where they are displayed on the page and what is next to them. In short, this is where you meet your channel customers.

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Promotion – Tell customers why they need your product – why it's worth the price. This is done through public relations, advertising campaigns, etc. You should still advertise your product, but this page avoids one-sided discussions, not dialogue.

4Es – Your marketing mix today!

Now that we've got the basics figured out, let's take a look at what today's marketing mix should look like.

From Product to Experience – Instead of focusing solely on the product, marketers need to take a holistic approach to customer experience when thinking about how to create value for their customers. The customer journey doesn't start when they buy your product, it starts when they first see your ad or receive their first email from you. From the first contact, you take them on a journey and tell them the value of your business. Moreover, customers are now looking for more than just a product. They want the product story to match their values ​​– self-perception. The experience is what creates the real connection.

Exchange rate – Your customers no longer pay for your product. We don't just buy and sell, we end instead. You are not only offering a product or service to your customer, but you are also offering their support, knowledge, value, growth and much more. All of these factors contribute to the value of sharing your product with your customers. And by the way, your customers can only supply you with minerals with money. They can become your followers – give you a good reputation – better paying customers.

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Country by country – Today there are many ways to communicate with our customers, whether it's social media, your website, your phone, your email, your advertisements or even the internal. Use all your channels to create integrated trips for your customers (mostly multi-channel, but we'll leave that for another blog). And don't forget to think of the experience as a truly larger experience.

From Promotion to Gospel – One of the best ways to promote your product is to be as amazing as your customers become your promoter. Hearing offers from your existing customers is more appealing than your LinkedIn campaign or your company's offer. Here's an unbiased third party who felt your product or service was likeable enough to talk about. This should be one of the most important KPIs in your business and one of the easy ways to measure it is the Net Promoter Rating (NPS).

Personalize your marketing for today's customers

With the development of technology, the new industrial revolution, today, in the new era, the needs, desires and expectations of customers are changing. Businesses should strive to create a marketing mix based on a fully customer-centric journey that creates value for their customers with every interaction. It's what they expect – we traders are here to make it happen.

BDO's technology and technology growth team plans to implement marketing programs that help technology companies achieve significant sustainable growth throughout their lifecycle. To achieve this growth, we take a customer-centric approach, from identifying hidden customer needs, ensuring market relevance, positioning and executing strategies in areas such as marketing, branding, customer success, sales empowerment, customer experience, etc. Contact us at Talhu@bdo.co.il for more details

Philip Kotler, father of modern marketing and keynote speaker The Future of Marketing

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