In today’s post we’ll discuss two marketing formulas with 4 P’s that can help you boost your marketing efforts. Here’s the simple equation that guides today’s post:
2 x 4 P = Huge Sales
The first set of 4 P’s pertains to your marketing mix and the graphic below tells the story. These 4 P’s will guarantee or obliterate your success. Click on the graphic below to gain insight into how you can use these 4 P’s to guide your business into the winner’s circle.
One thing to notice is that product is key for both formulas – without a great product all the best marketing in the world will not guarantee success. In fact, great marketing for a poor product will hasten its business failure. Product reputation can build quickly with great marketing, and once people identify a product as a bad one, word will spread like wildfire.
The other three P’s of the Marketing Mix formula complete this map to marketing success (or failure). A product that is correctly priced, correctly placed, and correctly promoted will be a winner.
The second set of 4 P’s was put together by Jeanine Blackwell.
The first P is People. Who is your target audience? Without understanding your target audiences, chances are good that you’re either spending too much for your marketing, or you’re failing to connect with a sufficient number of customers or clients to be profitable, which amounts to the same thing – ineffective marketing that results in undersized sales.
The second P is Pain. What is the problem that your target audience is dealing with that your product can solve? Pain points are a crucial consideration for advertising and marketing. What pain does your product eliminate?
The third P is Possibility. What dream fulfillment can you deliver? How can you transform their pain point into something incredibly positive? How can you turn their situation from pain to pleasure?
The fourth P is Product. This is what moves your target audience from pain to possibility. When your marketing puts great products in front of the right target audiences, sales abound.
Use these two marketing formulas as you put together your marketing mix and advertising.
I welcome your comments and questions, and your likes and shares.