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4 P's of Marketing - Coggle Diagram
4 P's of Marketing
Place
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3 factors to consider
Product
Simply just having your own shop can greatly help with this variable as now the customes can have a hands on in person experience with the product prior to purchase
Location of deliveries
A way of helping with this factor is having shops in areas where there are quite a lot of people who are interested in your product, eg Prada having shops in expensive roads/areas.
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Product
Goods
Of tangible nature
People buy products not only to solve basic needs, but also:
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Case Study: McDonalds
4P's of Mcdonalds
Product: The McDonalds Brand is always known for its burgers, however, as time passes it adds more and more items to its menu to expand the amount of people who buy their products.
Place: uses restaurants, kiosks, mobile apps, along with many others to both advertise and show their products in a physical and digital sense.
Promotion: Usage of advertisements, sales promotions, direct marketing, and the upkeep of their public reputation allows them to promote their product and brand not only through physical or digital posters/advertisements, but also through word of mouth.
Price; Mcdonalds uses bundles and process with the tag $__.99 to trick the customer to thinking that the product in significantly cheaper, making them more inclined to buy the product.
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Case Study: Apple
4P's of Apple
Promotion: Advertising, personal selling, sales promotion, and public relations allow for Apple to advertise their product both physically and digitally through the usage of prices and public image. It can also be stated that events like the Apple Event allow for them to further tease their next new product, which can increase the publics attention towards the next product
Product: Apple has a variety of different types of products and services that they sell for different demographics. For example, they sell the Iphone as a communication device targeted for more casual use, whereas the Mac is more directed to usage in work environments. This allows for them to gather a large audience for them to profit off of.
Place: Usage of Apple Stores, websites, resellers, and telecommunication companies to maximize the amount of exposure the public gets physically and digitally to products made by Apple. This allow Apple to advertise to a very large demographic very easily.
Price: Using premium and freemium pricing strategies they are able to grab both people on different ends of the price spectrum. Premium pricing strategies allow them to sell things for slightly more through adding extra things to the product and selling it as a bundle, which grabs the attention of those who want to use less money to buy the products they want. Freemium also allows for the products to be advertised to the people through giving them a small taste of what the product can do, which promotes the users who enjoyed the services to pay more to continue using it.
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Note: There was no choice for a black line, which means that I had to use a lime color for the Apple Case Study.