Marketers try to simplify marketing down to the 4P’s.
In case you didn’t know the 4P’s they are Price, Place, Product and Promotion. Every business owner has or should have all of these things when in business:
- A product to sell, at a certain price
- A place where they sell their product
- And some type of promotion to get the customer’s attention.
Sounds easy, right?
I have always felt that marketers have left out a P – Psychology! Understanding your customer’s thought process when purchasing can really help you put a successful marketing plan together. The trick is to have all these P’s work together and communicate this with your customer.
I have seen business owner focus on just some of the P’s and expect to make tons of money. Marketing doesn’t work like that. Marketing is something that has to be researched, tested and modified in order to see results. Marketing also has to be consistent. You can’t expect to run ONE ad and expect customers to flood your store and phones; it takes time.
Once a business owner knows which products to offer, what to price their products, where to sell, what their customers want to hear and how to reach them; they will have very success marketing plans
Anyone can start a business; but, it takes a special type of person to understand how to run a successful business, and marketing plays a big role in success.
