The 6 P’s of Marketing
WHAT DO YOU KNOW ABOUT MARKETING?
Think you are familiar with the 4 P’s of marketing? Have you heard of the 6 P’s then? Many may see marketing as something to sell or push for sales. In actual fact, marketing is a lot more than just sales, it engages your consumers, creates an identity and sustains presence. Marketing also generates new content, retaining interests and keeping the conversation going. This is important because it helps your brand stay relevant and maintain the relationship with your consumers. So, what are the 6 P’s of marketing?
Always consider the unique selling point or factor of superiority and communicate that to your consumers. Specifying the benefits and advantages may help your customers differentiate your products from your competitors’.
Some important questions you should consider:
- Are your products and services suitable for the current market?
- Ask yourself what are the needs of your consumers and market?
- What are the unique selling points you want to bring across?
- What are the benefits of choosing your products?
The different channels may offer your businesses new opportunities, or potential consumers and markets, especially the e-commerce market. It is key to make sure your products or services are easily accessible to your consumers at all times.
Lastly, positioning is how a business differentiates itself from its competitors. This can be done through pricing, brand identity, image, products, services and so on. You should set a clear value proposition for your business, and this should be how you want your consumers to perceive your business. A great example of Coca-Cola’s value proposition is representing happiness when one opens the can. You should always strive to create an ideal impression in the hearts and minds of your consumers. The best is such that whenever your brand name is mentioned, your consumers will immediately get reminded of your brand’s identity. A well-rooted positioning can affect consumers’ willingness to purchase and spending power, so make sure you do that well!