Are you hitting your marketing goals within budget?
According to Philip Kotler, there is a holistic approach to marketing this involves creating superior value for the customer and building strong long term customer relationships in order to capture value from the customer in return. He explains further by saying that, marketing essentially consists of creating competitive advantage for future profitable growth. He sets forward a 5-step process each organisation desiring to remain in business must follow
in 2020 Companies with a proper 4P marketing plan were 70% more likely to Grow during Covid
Typically, businesses consider the four Ps when creating marketing plans and strategies to effectively market to their target audience. The four Ps form a dynamic relationship with one another. Rather than one taking priority over the other, each is considered equally important in crafting a strategic marketing plan. The product is the good or service being marketed to the target audience. Price is the cost of a product or service. Place is where you sell your product and the distribution channels you use to get it to your customer. Promotion is how you advertise your product or service. Through promotion, you will get the word out about your product with an effective marketing campaign that resonates with your target audience.
Effective marketing takes time, but the proper preparation can yield outstanding success.
A well executed marketing programme can make the difference
There are many different ways to promote your product. Some traditional methods include word of mouth, print advertisements, and television commercials. In the digital age, though, there are even more marketing channels that you can use to promote your product, such as content marketing, email marketing, and social media marketing.
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