The four P’s are a basic concept in marketing. Product, price, place, and place are essential to the success of any organization. Here’s how you can use the four P’s of marketing to grow your small business.
This is pretty straightforward. Your marketing efforts will be a lot more productive if you have a clear vision of what you are selling. If you think this is too obvious, consider the following questions:
- What are you selling?
- What need does your product fulfill?
- In what market is your product competing?
In short, this is the amount of money you charge for your product. Finding the right pricing for your product is a complex operation where many factors come into play. These are some questions you can ask yourself:
- What is the lowest price you would be willing to accept for your product?
- What are your competitors’ prices?
- How important is the price for your customers?
In traditional marketing, this is the place where you sell your product or where your product is available. The internet has upended this concept, though, and now it’s wise to think of “place” not only in physical terms but also as the availability of your product online.
“Meet your clients where you are” is an old tenet of marketing, and now that most of your clients are online, a robust digital marketing strategy is key to small businesses across all industries.
Once you understand your product more clearly and have a pricing and distribution strategy, it’s time to start promoting what you sell. Thanks to digital marketing, reaching your customers and growing your business is easier than ever. As you decide how to promote your product, keep these questions in mind:
- What channels are you going to use?
- What is your brand strategy?
- How are your competitors promoting their products/services?
More Digital Marketing for Small Businesses
If you are interested in learning more about digital marketing, here are some previous posts you may find interesting:
- The basic dos and don’ts of digital marketing
- 10 essential terms to understand SEO
- 5 Digital marketing trends to watch in 2021
- What is A/B testing in digital marketing?
- Why are keywords important in digital marketing?
Contact the Experts in Digital Marketing!
Looking for more great digital marketing ideas? Our experts at Uniko Biz Solutions will help you find the right marketing mix to connect with your audience and achieve the goals you have set for your business.