Digital Marketing the 4P's

What are the FOUR P’s?

Product, Price, Place, Promotion

Product development

1. Market? (Buyers, need, Purchase)

2. Segmentation-similar need or similar characteristics (Geographic, demographic, Psychographic, Usage Rate)

3. Targeting (Undifferentiated, Niche Targeting, Multi-segment)

4. Marketing Research (Survey, focus groups/ interviews, secondary)

What are the 4 stages of Product Life Cycle?

1. Introductory Stage

2. Growth Stage

3. Maturity Stage

4. Decline Stage

Introductory Stage

early adopter buyers, price high or low, profit little to non/ development costs.

Growth Stage

Reaching to mass market, price market affordable, profit increases/growing market share

Maturity Stage

Max market share, less promotion, price maximize profit while limiting share loss, profit declines through stage

Decline Stage

Market share declining, price reductions to slow share loss, profit “cash sow”

What are the four pricing bases?

1. Pricing based on business objective

2. Cost Based Pricing

3. Profit Based Pricing

4. Market Based Pricing

Pricing based on business objective

Sales oriented, demand based, elasticity

Cost based Pricing

variable costs, fixed costs, markup

Market Based Pricing

Competitive, Quality/Channel Pricing

Profit Based Pricing

Breakeven Pricing, Margin Pricing

What are the distribution Channels?

1. Retail

2. Online (place determines ads/promotion strat. - content mark+media)

3. Direct Marketing

4. Personal Selling

5. Channel Partners

What are the Promotion Goals?

1. Informing

2. Persuading

3. Reminding

4. Connecting

What are the Promotion Types?

1. Advertising Media

2. PR, Editorial

3. Direct Sales

4. Marketing

5. Social Media

6. Product Placement

What is Positioning in the Four P’s?

It is the result of Product, Price, Place, and Promotion

Positioning

1. Creates perception + Brand

2. Effective positioning requires competitive info. + consistency

3. Positioning statement (What do you provide your customers with)