Marketing = Marketing Mix + Customers = 4P's + C
My teacher said that Marketing is the 4Ps plus a C (Customers). And he didn't explain it, so I really don't understand it too much. Can you help me explain it?
Thanks.
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Sandra Maughon, USA
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Marketing - 4Ps plus Customer
The four Ps (product, price, place, and promotion) are (or should be) all determined and planned from the company's vision and mission. Underlying it all, though, must be a fundamental understanding of who your customer is and how do you reach them. You are not likely to sell baby diapers on a regular basis to someone who does not have babies no matter how great the diapers are, no matter how cheap they are, no matter how many places you sell them, nor how many clever advertising methods you use.
Likewise, you have to understand your customer to determine what kinds of products you make, how you price them, where you sell them, and what kind of advertising you will use.
I know those are very simplistic examples, but I hope they help to explain the concept.
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Amir, Israel
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4Ps+C
It means that even though you must look at all 4 Ps, without the customer's basic needs, or without ... Sign up
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Leigh Cowan