How to apply the 4 Ps of marketing to your strategy?
Posted: Sun Jan 19, 2025 9:16 am
Now that you understand what the 4 Ps of marketing are, it's important to know how to apply them to your strategy, right?
After all, these definitions must be part of the company's planning and be consolidated in a Marketing plan .
See below the main stages of this planning, from defining the target audience to its practical application.
Define your target audience
The first step is to start by defining who the target ameriplan email leads audience will be . Why? These are the people who the Price, Product, Place and Promotion should be based on.
But be careful, no assumptions, invest in market research that investigates the profiles and behaviors of these people.
Using this information, you can segment the market into groups with common characteristics, such as:
geographical;
psychographic;
demographic;
behavioral.
After that, you can define which segment(s) you will work with. Identify needs in the target segment that your product is able to meet.
Design your competitive strategy
The competitive strategy defines how the company will face the market and also determines the choices of the Marketing Mix.
According to Michael Porter, a company can adopt a strategy of:
cost leadership: aims to reduce production and distribution costs, offer products of acceptable quality and charge lower prices to obtain greater profitability;
differentiation: the objective is to achieve superior performance and quality in some area that is important to the customer, increase the perception of value and charge higher prices for this;
focus: addresses smaller market segments, focuses on their specific needs and achieves cost leadership or differentiation in the specific market.
It is worth noting that the choices of the 4 Ps of Marketing must be consistent with the outlined strategy . For example, if the company opts for Cost Leadership, it must keep pricing low, keeping an eye on competitors.
Establish market positioning
The definition of market positioning must be designed for the target audience , following the competitive strategy.
The intention is to develop the company's offering with the aim of achieving a unique and valued position in the public's mind.
After all, these definitions must be part of the company's planning and be consolidated in a Marketing plan .
See below the main stages of this planning, from defining the target audience to its practical application.
Define your target audience
The first step is to start by defining who the target ameriplan email leads audience will be . Why? These are the people who the Price, Product, Place and Promotion should be based on.
But be careful, no assumptions, invest in market research that investigates the profiles and behaviors of these people.
Using this information, you can segment the market into groups with common characteristics, such as:
geographical;
psychographic;
demographic;
behavioral.
After that, you can define which segment(s) you will work with. Identify needs in the target segment that your product is able to meet.
Design your competitive strategy
The competitive strategy defines how the company will face the market and also determines the choices of the Marketing Mix.
According to Michael Porter, a company can adopt a strategy of:
cost leadership: aims to reduce production and distribution costs, offer products of acceptable quality and charge lower prices to obtain greater profitability;
differentiation: the objective is to achieve superior performance and quality in some area that is important to the customer, increase the perception of value and charge higher prices for this;
focus: addresses smaller market segments, focuses on their specific needs and achieves cost leadership or differentiation in the specific market.
It is worth noting that the choices of the 4 Ps of Marketing must be consistent with the outlined strategy . For example, if the company opts for Cost Leadership, it must keep pricing low, keeping an eye on competitors.
Establish market positioning
The definition of market positioning must be designed for the target audience , following the competitive strategy.
The intention is to develop the company's offering with the aim of achieving a unique and valued position in the public's mind.