You are reading the article Reviewing The 4 Ps In A Modern Marketing World updated in February 2024 on the website Tai-facebook.edu.vn. We hope that the information we have shared is helpful to you. If you find the content interesting and meaningful, please share it with your friends and continue to follow and support us for the latest updates. Suggested March 2024 Reviewing The 4 Ps In A Modern Marketing WorldEmbarking on my marketing journey at university, I learnt about the 4 Ps of marketing. However, since I left the classroom, I’ve found a disproportionate focus on promotion over the other Ps.
The 4 Ps are fundamental to any marketing strategy and explain the core concept of what marketers do. Any marketer worth their salt should know:
However, as important as promotion – or marketing communications – may be, in their book ‘How Not to Plan’, Les Binet and Sarah Carter explain that econometrics consistently show that the effects of the other three Ps are as important for sales and profit. Without the right product, at the right price and distributed in the right places, it makes our jobs as marketers very difficult to promote.
Binet and Carter’s book reaffirmed the importance of these three Ps in my mind and gave me the inspiration to outline here why I think all marketers should revisit and re-evaluate how they’re used when developing strategy.
Without a good product or product range, it’s difficult to make an impact. Whilst it’s possible to promote a poor product, it’s much more effective in the long-term to develop a product that satisfies the needs of the consumer. As Investopedia explains:
Market orientation is an approach to business that prioritizes identifying the needs and desires of consumers and creating products that satisfy them.
Many brands will have a wide range of products as part of their product portfolio, including core and non-core products. For example, Coca-Cola will have core products such as Coke Classic and Diet Coke, as well as non-core products such as Coke Zero and flavoured Diet Coke. However, this is relatively small compared to the wide range of toothpaste variants from Colgate!
However, whilst many brands believe product choice is good, it’s often because they simply want something new to say. Most marketers believe their job is to persuade people to buy by using compelling messaging – new product news is exciting! But whilst new product launches can generate a short-term sales boost, they often fail because they’re not groundbreaking or original.
Instead of falling into the trap of generating new products to make news, marketers should concentrate on established products that generate the most sales in the category. This is the approach Foster’s took in 2014. Faced with declining market share and brand resonance with consumers, Heineken (the parent company) focused on what their target audience (young blokes) felt about the brand.Place: Focus on distribution
‘Place’ is arguably the least talked about of the 4 Ps but is equally important. If you’re unable to get your product in the right places, it will become very difficult to generate sales and be profitable.
The physical availability and distribution of your product are crucial, which is why Coke talks about being ‘within an arm’s reach of desire’. Behavioural economics shows that people are lazy, so it’s important to make it as easy as possible for consumers to get hold of what you have to sell.
The physical availability of a product is also linked to the ‘mental availability’ that Byron Sharp talks about in ‘How Brands Grow’. In Sharp’s words:
“Make your brand easier to access in consumer memory in more buying situations and for more consumers.”
As mentioned in the section above, there is more choice than ever before, so in order to cut through the noise, you must be available both physically and mentally to consumers. This goes beyond brand awareness; it’s about ensuring customers are thinking about your brand and can access it (either physically or online).
Distribution is often seen as another team or department’s job, but econometrics shows that distribution is a key factor in driving long-term growth for brands. Marketers should therefore think creatively about distribution as part of their strategy.
Amazon is an example of a brand that builds distribution into their marketing plans and is always looking for new and unique ways to speed up deliveries for customers, from the sublime (Amazon Hub Lockers) to the ridiculous (Amazon Prime Air!).Price: Be prudent with price promotions
The price you set for your product goes beyond the rational calculation of profit margins. Neuroeconomics research shows that financial decisions are often evaluated in a way that lets our emotions overrule rational financial analysis. For example, setting a price too high or too low can signal to consumers the relative quality of your product versus the competition.
If you’ve ever visited a Pizza Express or Prezzo, you’ll be familiar with their always-on price promotions – “buy one, get one free”. And whilst price promotions can have a positive short-term sales impact, the long-term impact on profitability and brand equity far outweighs the benefits. Within the FMCG sector, research from Nielsen found that up to 58% of UK grocery promotions – across 200 retail categories – are not making any money for brands.
Although part of the allure of price promotions is that in addition to shifting stock they also encourage new users to trial products and keep existing users buying, research has found little evidence of any long-term benefits. And to compound the problem, price promotions become addictive – when the ‘high’ of one promotion ends and sales slump, there’s a temptation to go for another promotional ‘fix’.
Whilst price promotions can be useful in some contexts (e.g. encouraging trial for new products or categories, impulse buying), brands should also consider alternatives such as:
Non-price promotions, such as competitions or free gifts
A consistent pricing strategy, e.g. everyday low prices vs. promotional spikes
Negotiate with retailers to provide better in-store display or increased facingsSummary
Marketing is much more than communication. Whilst the ‘promotion’ P is important, so are the other 3 Ps and marketers must consider all four of the marketing mix as part of their strategies and plans.
Everything starts with the product, which must connect with your target audience and meet their needs and desires. You must then have an effective and innovative distribution strategy to ensure that consumers are not only thinking about your product but can easily get hold of it (whether physically or online). You then need to put in place a pricing strategy that fits with the image and positioning of your product.
If each of these Ps is in place, promotion can then be used to tie up all the benefits as part of a clear, distinct message.
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Ideas to humanise your online communications
As we all now become digital natives, it makes you step back and think and ultimately realise that those who follow us, will be born into a purely digital society, where eBooks and augmented reality will have gone from exotic to everyday.
Thinking about what this means in the future is intriguing, but it’s equally interesting right here and now in 2013. Technology, software and the devices we use, have of course shaped our social and human behavior on a number of levels, from shopping, to leisure, to business. Lives are lived online, and the opportunity to have a live feed into the minds of those you care about is becoming a clearer reality. People are more willing to share and consume horizontally through their social networks, rather than vertically. The organic spread of ideas, relationships, and trade can now be observed and measured on scales of unprecedented detail.
Amongst all the positive aspects of instant global communication, accessibility of information, improved efficiency and the potential for learning, it is clear that there are negative “de-humanisning” aspects of the Digital World now and this will likely continue in the future. People see less of other people, there can be a lazy attitude inherited as a result.
But it doesn’t have to be that way. I want to highlight how in the context of business to consumer communication practices, organisations can act, appear and deliver more human aspects of behaviour both through, and alongside their digital communications, to complement each other.
Online Business Communications
Show the people within the business on their website people pages and social channels, e.g. LinkedIn profile page and Facebook
Personalise their twitter with a unique or range of staff administrators assigned to social media, giving a personal tone to the messages and responses given
Ensure sales and support emails are from staff addresses and use appropriate signatures to show real people behind the customer service aspect and gain trust
Deliver video and audio content including staff and to connect with the audience on real terms and improve brand personality.
Personalise marketing emails both through whom it is addresses but also based on preferences.
In the case of Twitter, a number of companies place images of their help team on their
background image to show people what they look like. It’s a small move, but is effective in showing that there are people there who are going to engage with you, regardless of the query.
A high street retailer that also has an “inevitable” online presence can also humanise their consumer’s digital experience and simultaneously complementing the real in store experience by:
Promoting specific exclusive offers and promotions online, but only available in store to drive footfall and human interaction
Building knowledge of the online offering amongst staff to help deliver in – person sales and consumer loyalty
Use social media to help profile the products, local team(s) and staff to consumers
Have real staff actively engage with customers online through customer service and social media contexts
Ensure telephone numbers are clearly promoted online and personalised where possible to ensure more voice contact.
I think we all know the inevitability of an increased trend for more digital consumption and communication out of necessity, but this doesn’t mean we have to be any less human. It’s about balance. We must continue to act, sound and appear human even online and I hope that the norm isn’t that we get lazy and devalue personal contact by default over a more convenient digital equivalent or alternative.How Starbucks humanise
I often reference Starbucks as a stand out brand who seem to make all the right moves in terms of their digital brand strategy, and in context to humanisning their experience, they do the following very well indeed.
Promote a wide range of in cafe specific promotions online
They have a highly personal and responsive social media presence that is led by fans, not the brand.
Their global presence is strong, yet they have great local online content and activity
Starbucks rewards on mobile for in – cafe benefits
Humanising and socially engaging and accessible content.
A great example of this last point is in the “Join Us” section on the chúng tôi website. The content on this page helps paint a picture of an inclusive, social and people – centric brand built on community. This is what their product and experience stands for yet here it is simply using social media and technology as the delivery mechanism. This avoids many of the big mistakes many brands make, by adopting technology and digital platforms, yet they have no brand supporting or strengthening content strategies.
Related to this discussion from a social media perspective is a really good Q&A worth checking out with Nicholas Christakis from the TED series, entitled: “Our modern, connected lives.” It’s interesting as it raises many points around our influence and behaviour driven by our modern connected online social experiences. It’s a well-balanced series of responses to topics of friendship, social influence and even online dating from a real world vs digital perspective.
One things is for sure, digital media has the potential to dehumanise our lives as we live our lives increasingly online, interacting with devices rather than people. We do know that as inevitable as this is, we can take positives from how it can help us connect with people instantly on a global scale. We can also be encouraged by the activities of brands delivering people centric and accessible digital content and engagement strategies, initiating and motivating regular real life personal and brand contact.
We’ve been talking a lot about the modern car buyer and how his or her journey is different than it was in the pre-internet era. What does that mean for car dealership lead generation and lead management?Lead management in the traditional car buyer’s journey.
Think back to 1986. If you were just a kid then, think back to 1996 or any year before the internet took off. If you still don’t have a frame of reference, go stream a few good eighties movies on Netflix. Think about how a typical car buyer would learn about cars and car dealerships. He or she might turn to:
Consumer Reports or similar third-party publications.
TV and radio spots produced by the OEM or local dealership—when they happen to catch them.
Fliers and direct mail.
Word-of-mouth, either on the suitability/reliability of a vehicle or the trustworthiness of the dealership.
Basic opinion on the brand, which could vary considerably between consumer groups (some may put a lot of stock in “German engineering” while others would consider “American made” a prime selling point).
First-hand experience with a make/model of vehicle.
Promotional information on pricing, deals, discounts, etc.
What these sources have in common is that, in most cases, none of them could sell a car on their own. Take Consumer Reports, for instance. This magazine could be the most accurate source of information about cars that a buyer could get his hands on, but the magazine format limits Consumer Reports to offering detailed overviews of makes and models. It can’t guide the car buyer through every specific ownership scenario out there (e.g. what it’s like to use vehicle X to tow very large boats back and forth between Miami and Key West); and the magazine’s glossy photos and table of vehicle specs don’t give you a good sense of what day-to-day life with the car would be like. Even something as reliable as rock-bottom pricing can rarely sell a car on its own. A lot of consumers would consider an unbelievably low price a red flag and would want to investigate the car thoroughly before taking it into rush-hour traffic.
This is why the dealership is so important to the traditional car buying process. The customer shows up with limited information and needs to see the vehicle, take it for a test drive, that sort of thing. The customer also needs a salesperson to talk him or her through the purchase. Car salespeople catch a lot of flak from the general public sometimes, but without them the traditional car buying process would be a nightmare. You’d have to go to a lot, trusted car review magazine in your back pocket, and make a major financial and lifestyle purchase in the same way you buy toothpaste.
Back then, lead management was not just a matter of keeping in touch with Mrs. Jones or Mr. Patel. It was a that a dealership made it clear to the consumer that it was the best general resource for his or her car buying needs.
Now the auto shopper has access to high-quality car videos, a mountain of online articles and reviews, and access to millions of fellow car shoppers via social media sites. The number of dealership visits and the average time spent there is shrinking, which suggests that the dealership does not hold the same central position in the car buying journey.
This creates a new set of opportunities for CRM lead management.Lead management today.
In 2024, Google did a study of the typical car buyer’s journey. They focused on a thirty-two year old mom named Stacy who wanted to lease either a minivan or an SUV. Google found that Stacy had over nine hundred digital interactions. These ranged from searching the internet for family friendly cars to exploring ways to avoid car dealerships altogether.
Stacy had sixty-nine digital interactions with the dealership. The study doesn’t tell us what all sixty-nine interactions were, but it gives us a general sense as to what she needed the local dealership for.
Stacy visited a dealer site once while she was trying to figure out whether a certain make and model had all the features she needed.
Stacy visited dealer sites four times when she was exploring pricing and payment options.
Stacy visited dealer sites twelve times when she was trying to find places to buy her car of choice from.
The dealership helped this prototypical modern auto buyer work through practical questions like “is this car available,” “can I afford it,” and “where can I lease it.” We can also assume that Stacy spoke with a salesperson, went for a test drive, and did a lot of the stuff that car buyers have always done.
If Stacy was buying a car in 1986, she would probably lean on the local dealership a lot more. Still, her interactions are all excellent opportunities for internet lead engagement. Keeping Stacy updated on inventory and pricing, as well as setting the dealership up as a place that she’ll want to do business with for years to come, would all be valid for this particular customer journey.
There are also auto shoppers in Stacy’s local market who would like to do as much as possible through the dealership. Maybe these individuals trust the brand, have a longstanding relationship with the dealership, and would rather skip Stacy’s 139 Google searches in favor of showing up on the lot and buying something. There are customers out there who only care about your current inventory and pricing, customers who are going to be regulars in your service center for the next twenty years, and customers who will show up whenever you’re offering a deal. While the auto buyer customer journey has a few general patterns, there are a lot of individual paths that specific auto shoppers take.
The right lead management solution keeps you engaged with car buyers of every type. It lets you tailor the interaction to fit the customer in question by tracking the ways he or she has engaged your dealership in the past. Data is a two-way street – the customer has access to more information on cars than ever before, and the dealership has access to data points on how the customer engages the dealership. Technology like email, live chat, and call tracking makes record-keeping a lot easier, and it gives you the means to engage customers quickly, profitably, and in a focused way. It also helps you identify the ways that your customers, both individually and as a whole, are responding to your marketing efforts.
An effective lead management solution also does something that a traditional lead management strategy did – it sets the dealership up as a valuable car buyer’s resource. While car buyers have a world of information at their fingertips, this information can be fragmented, hard to find, unreliable, and short on reality checks. The dealership still has an opportunity to centralize the process, but it now has the power to do it in a more customer-focused way.
Contact us to find out more about our complete automotive marketing solutions.
The most polluting companies in the world have been revealed. Researchers have found that just 20 different state-owned and multinational companies drive the climate emergency that threatens humanity. Although these firms are conscious of their industry’s devastating impact on the planet, they have continued to expand their operations.
20 companies have contributed to 35% of all energy-related carbon dioxide and methane worldwide, totalling 480 billion tonnes of carbon dioxide equivalent (GtCO2e) since 1965.
“The great tragedy of the climate crisis is that seven and a half billion people must pay the price – in the form of a degraded planet – so that a couple of dozen polluting interests can continue to make record profits. It is a great moral failing of our political system that we have allowed this to happen,” says Michael Mann, a leading climate specialist.
The research by Richard Heede at the Climate Accountability Institute in the US shows that just 20 companies have contributed to 35% of all energy-related carbon dioxide and methane worldwide, totalling 480 billion tonnes of carbon dioxide equivalent (GtCO2e) since 1965.
The question is, will the leaders of these firms be held accountable?Adapt, build, achieve
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Saudi Aramco 59.26 billion tonnes (of carbon dioxide poured into the atmosphere since 1965)
Chevron 43.35 billion tonnes
Gazprom 43.23 billion tonnes
ExxonMobil 41.90 billion tonnes
National Iranian Oil Co 35.66 billion tonnes
BP 34.02 billion tonnes
Royal Dutch Shell 31.95 billion tonnes
Coal India 23.12 billion tonnes
Pemex 22.65 billion tonnes
Petróleos de Venezuela 15.75 billion tonnes
PetroChina 15.63 billion tonnes
Peabody Energy 15.39 billion tonnes
ConocoPhillips 15.23 billion tonnes
Abu Dhabi National Oil Co 13.84 billion tonnes
Kuwait Petroleum Corp 13.48 billion tonnes
Iraq National Oil Co 12.60 billion tonnes
Total SA 12.35 billion tonnes
Sonatrach 12.30 billion tonnes
BHP Billiton 9.80 billion tonnes
Petrobras 8.68 billion tonnes
Will these businesses be held to account?
Perhaps not by today’s grey-haired investors and governments. However, the generation born in the 21st Century is now entering the workforce and will be the leading legislators, investors, and consumers in the next decade or so. How will they look back? In anger, most likely.
Organisations like the Climate Accountability Institute in the US want to hold big polluters to account but also “leverage accountability by carbon producers into using their skills, capital, and resources to aid rather than oppose the transition to a low-carbon or zero-carbon energy future”.
Actively lying and lobbying to protect your polluting ways won’t go down well with future generations. It is also appalling governance.
What do the biggest corporate polluters say about their activities?
They say it’s not their fault; they simply serve a human demand for oil, coal and gas.
Don’t forget, they also spend millions on lobbying governments and investors every year, showing off their ‘green credentials’.
The fact that they put money into denial rather than investing in renewable energy may also come back to haunt them.
Actively lying and lobbying to protect your polluting ways won’t go down well with future generations. It is also appalling governance.
Richard Heede at the Climate Accountability Institute says leading companies and industry associations were “aware of, or wilfully ignored, the threat of climate change from continued use of their products since the late 1950s”.
The public and political debate should focus less on individual responsibility and more on holding companies, most responsible for carbon emissions, accountable, says Heede.
According to the UN, we now have just ten years to prevent the worst effects of global warming and limit temperature rises to 1.5C above pre-industrial levels.
The five biggest oil and gas companies spent $200 million lobbying to delay, control or block policies addressing climate change.
Are people and investment funds still supporting the biggest corporate polluters?
Yes. The problem is the biggest corporate polluters are very profitable in money terms, so they still attract a lot of investment which helps them expand their operations.
There has been some investor backlash against the polluters and the environmental vandals. Some significant investment funds have said they will no longer support funds that have ‘dirty firms’ on their books.
However, it’s the future backlash that may come back to haunt them in more intensive ways.
Many of the top polluters spend millions each year lobbying governments and presenting themselves as eco-friendly.
A recent study revealed that the five most significant oil and gas companies spent $200 million lobbying to delay, control or block policies addressing climate change.
Heede said the companies have “significant moral, financial, and legal obligations and burdens related to the climate crisis”.
“The fossil fuel companies have their collective hand on the throttle and the tiller determining the rate of carbon emissions and the shift to non-carbon fuels,” says Heede.
For more on this research, go here and to The Guardian.
Diablo 4 is an action role-playing game with a vast and dynamic open world full of quests, dungeons, and enemies.
The Swamp’s Protection is one of the side quests that involve helping a healer and her infected friends.
To find the Bandit Camp in Diablo 4, complete the side quest The Swamp’s Protection, talk to Timue, deliver her supplies to three infected people, and then go to the Forsaken Coast.
This article will guide you through finding the Bandit Camp responsible for the infection and completing the quest objectives and rewards.
No matter which class you choose, this walkthrough will easily show you tips to handle the bandits.What Is Bandit Camp In Diablo 4?
Bandit Camp is a location part of a side quest called The Swamp’s Protection in the Hawezar region.
It is a place where the bandits have set up their base and stored the medicine they have stolen from the Swamp.
In this quest, you must help a woman named Timue, who lives in the Blightmarsh and delivers medicine to the infected people.
Besides, it involves delivering supplies, finding three infected people, and killing the bandits who attacked them.
You have to fight them off and find their camp where you can eliminate them for good.Where To Find The Bandit Camp In Diablo 4?
The Bandit Camp is in the Forsaken Coast area, northeast of Raldin’s location.
Furthermore, you can use a mount to get there faster and avoid enemies along the way.
A red icon marks the Bandit Camp on your map so you can follow it easily.
Further, once you get there, you must kill all the bandits in the camp and then return to Timue to finish the quest.How To Find The Bandit Camp In Diablo 4?
The Bandit Camp is a part of a side quest called The Swamp’s Protection in Diablo 4.
Here are the steps to find the Bandit Camp in Diablo 4.
Start the side quest, The Swamp’s Protection, by speaking to Timue in Blightmarsh.
Open Timue’s Chest behind her and pick up Timue’s Supplies.
Now, find Baridan, Duraya and Raldin within the Blightmarsh.
Speak to them, give them Timu’s supplies, and then kill the bandits attacking Raldin and talk to him again.
Find the Bandit Camp in Exile’s Heap, northeast of Ralden’s location and then kill all the bandits in the camp.
Afterward, return to Timue, talk to her and get your rewards.Rewards After Finding The Bandit Camp
You will get rewards after finding the Bandit Camp and completing The Swamp’s Protection quest.
Here are the primary rewards with their benefits.
Renown: Region Renown, a currency that can unlock various features and benefits in each region, such as mounts, vendors and world bosses.
Gold: The main currency, Gold can be used to buy items, repair equipment, craft materials and more. It depends on the character’s level.
Experience: This is the measure of your character’s progress and level. You need the experience to level up and unlock new skills, talents and attributes.
Item Reward: Herb Cache, a container holding various herbs that can be used for crafting potions and other items. Potions can restore your health, ama or other resources.
Read and find out the fastest way to level after 50 and the reasons behind the crafting of Sigils in Diablo 4.The Bottom Line
Finding the Bandit Camp is one of the many side quests that Diablo 4 offers to enrich the gameplay.
Moreover, the quest is relatively easy and straightforward for exploring the Blightmarsh and Exiles’ Heap areas.
Hopefully, the above guide helps you to find the Bandit Camp in Diablo 4 and complete the quest.
Experience the dark and gritty world of Sanctuary in Diablo 4.
Keep reading and explore troubleshooting tips if Diablo 4 is not responding and if you can upgrade Jeweler.
What’s Business Innovation Important? As among the USA’s biggest production companies Apple Inc – 2023 revenue: $229.2 billion
10 Best Saas Marketing Tools And Platforms For 2023Netflix — 2023 earnings: $11.7 billion Square – 2023 revenue: $984 million
Besides its signature card reader, Square offers an iPad point-of-sale program. The business also functions Square Capital, which provides loans to its own retailers, along with a consumer-facing mobile wallet, Money App.Tencent — 2023 earnings: $37.3 billion
Tencent Holdings Limited is a Chinese multinational investment carrying conglomerate whose subsidiaries specialize in different Internet-related providers and goods, amusement, artificial intelligence, and engineering both in China and internationally. Tencent’s WeChat messaging program is the planet’s most used messaging program with over 980 million active monthly customers as of January 2023. It is competitive R&D actions have made WeChat much more than only a social networking platform. Users may hail a cab, look up a restaurant inspection, make a booking, and pay for supper, without leaving WeChat.Amazon – 2023 revenue: $177.9 billion
The business also generates consumer electronics–Kindle e-readers, Fire tablet computers, Fire TV, and Echo–and will be the world’s biggest supplier of cloud infrastructure providers. Over the recent decades, Amazon has made considerable investments in the physical world, starting its first bookstore in Seattle in late 2024. In 2023, the business completed its purchase of Whole Foods and at ancient 2023 opened an Amazon Go grocery store to the general public.Patagonia – 2023 revenue: $209 million
Over time, Patagonia has grown to become one of the most admired and popular outdoor clothing brands in the world and continued to utilize its prevalence to boost awareness around environmental problems and climate change by investing in grassroots associations and in companies developing technology which will make its supply chain and products more sustainable.CVS Health – 2023 revenue: 184.7 billion Washington Post — 1 million electronic subscribers Spotify — 2023 earnings: $4.7 billion
Spotify Technology SA is a Swedish amusement firm launched in 2008 that specializes in audio, podcast, and even video streaming support. It supplies DRM-protected articles from record labels and media firms. A lot of Spotify’s achievement is because of increasingly complex data collection, which lets it maintain releasing new products which captivate its customers around a specific mood or second.NBA – 2023 revenue: $7.73 billion
It is now the planet’s most precious sports league, with over a billion viewers every year. In 2023, every NBA team. On average is well worth a record $1.65 billion, representing 22% growth from this past year. To push the boundaries of creation, NBA continues to be commissioning ground-breaking highlight-clip creation tools, pop-a-shot programs, and fantasy basketball matches and solidifying relationships with firms like Facebook and Silicon Valley startups, even investing in e-sports. Record-breaking TV deals and the international expansion of this game are the largest driving factors for NBA’s growth. Additionally, it helps the NBA’s socially-conscious practices revolve around the public; particularly one of the 4 big sports leagues in North America.Prospective of the Top 10 Most Innovative Companies in the World
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