You’ve already heard about this?
You’ve heard about this in your school
Some may know four pillars of marketing, Concepts behind marketing, and much more.
I.e Product, Price, Place, Promotion.
But I’ve added one more to this formula.
And i.e People.
The one who buys your product or service.
How you can ignore them.
Let me explain this in detail. I know you’ve heard this but let me more about these concepts.
Firstly, when we talk about the Product
It totally depends on three important aspects i.e.
Your Brand: It defines the trust that your customers have with you the more they trust the more your brand gets stronger.
The brand is something not like real it’s an illusion that people make towards you & that illusion makes you different from your competitors.
Your Services: Everyone tries to give services to their customers before selling but the main factor that makes your product more valuable is when you’ll be able to give services after selling it.
Your Product Packaging: “Don’t Judge Book By Its Cover” But in a practical sense everyone does the same so packaging is also very important to make your brand & product more valuable.
I hope you got some clear vision regarding the 1st P of marketing i.e Product.
Okay now, let’s talk to another one!
What I’ll say about this?
You know it much better than me.
If you’re also a customer then maybe you’re listening to a sales pitch but you’re always in wait to know the price of that particular product.
Let me know if I’m correct?
Actually don’t know about you but the same happened to me.
So it’s important to have some great offers, discounts, and a great credit policy.
That makes the customer think about it & your discounts may give pressure to your customer to buy your product & services.
I don’t know if you’ve heard about Black Friday Deals or not?
But what happens there is people purchase products in so much hurry to get an offer in a week.
So they purchase that product also, that even not comes in their use.
So it’s important to have great deals with a time constraint on your product.
Now you also get an idea about price.
Now let me modify this formula within 3rd P i.e Place.
According to me!
I can also modify this P also.
Okay, let me tell you how?
According to traditional marketing, place refers to the geographical location.
But now it’s time for digital!
Everyone wants to become a digital pro!
It may be a business or personal brand.
So, we can replace the place with the platform.
Hope you got my point on digital or online we’ve to choose the platform for making our presence. It may be youtube, Instagram, Twitter, or maybe your own platform.
In the traditional method, we’ve to worry about the location that can give us a large customer base.
But in the digital era, we’ve to choose the digital platform irrespective of location, We choose on the basis of audience size & interest.
So things are going changing & we’ve to keep that capability to adapt to those changes.
Now the second last i.e. Promotions
One of my favourites!
The reason is simple if you don’t know how to sell your product or services then who will buy from you?
Okay! Not an issue if you’re having good knowledge about your product or services & but if you don’t have a marketing mind to sell your product or services then there is an issue.
If you’re thinking that you will hire someone for marketing?
Yeah, this can also be an option but if you don’t have a marketing mind to sell it till then no one can help you.
So, it’s important to have marketing skills like,
How to do an advertisement from an online platform?
How to make a sales converting landing page for your business?
If you want to learn these skills let me know in the comment section & surely I’ll help you out.
Now come on to the part that I’ve added.
Yes! I.e People.
The all above four P’s are made for people
People mean your customers.
So adding people is also important according to my point of view.
When someone starts to give a sales pitch to you,
What will be your reaction?
Maybe you’ll be like,
“Who the hell is this, I’m not a fool that will come under his/her sales pitch”.
Let me tell you why it is so?
When someone says “salesman” what comes to your mind?
“Sales calls for giving loan, credit card, fraud calls, etc”
But what actually does it mean?
The one who helps you with your buying decisions like your friend that person may be called a salesman.
Actually, people don’t know how to sell?
So, try to help your customers don’t start directly selling without understanding.
Hope you got clear about the 5 Ps of marketing.
What you’re thinking let me know in the comment section.