How Much You Charge For Taking An Online Math Class The 4Ps of Marketing

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The 4Ps of Marketing

The 4Ps of marketing are product, price, place and promotion. The most important thing in this group is the product, of course. Get it wrong and none of the others matter. We’ll talk more about your “product” in a moment.

Marketing is often misunderstood; most small business owners see it as just a way to get the word out. But, it is much more complex. In this article we will discuss one of the many aspects of marketing… the 4Ps.

It includes the 4Ps and…

You will have a product that people want, love and tell their friends about…

You will maximize the profits of each sale…

You will make your product easily accessible to the people who want it most…

You’ll have a way to get more people to try it (otherwise they wouldn’t).

product – You need to spend enough time developing your product. You need to understand the wants, needs and desires of your market and then incorporate them into your product. And then go one step further, do something else to “Wow” them. Because if your product doesn’t meet the needs of your market better than the competition, why should you? What is different about you?

price – Find out how your top 3 competitors rate their products. Next, determine the true value of your product. Then determine the cost to develop your product. Then decide whether you will be the low price provider or the premium provider. There are pros and cons to both. Make sure you understand them and then choose your position. Now you can price your product appropriately – above your cost and then above (or below) the competition based on your “position” decision.

place – Make sure you know where your potential customers hang out, where they hang out. When they need your product, where are they? Then find a way to get your product on those sites. You want your product where you need it. Sell ​​hot dogs in a ballpark and make a profit. Sell ​​hot dogs in the lobby of a dentist’s office and you won’t.

promotion – Give something away, because offering a free gift is one of the best ways to get people to try your offer. Once they try it, they may decide to buy it. If they never try it, they’ll never know if they like it, so they may never buy. You can give away a free consultation, a free trial, a free sample, a free inspection, a free report, a free video, a free e-book…be creative. Find something your potential customers want, then find a way to give it away for free. You want to get your product into the hands of as many people as possible. You want them to talk about it. Do your math on this one, though. Make sure you fully understand the cost to you and then your break-even point. How many sales do you expect to make as a result of the promotion? How many sales will it take to break even on your promotional costs? Do the math. Make sure it’s viable. If so, go for it.

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