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4 P's of Marketing - Coggle Diagram
4 P's of Marketing
Product
Goods
Tangible Nature
People want something that
Has Benefits and Provides Satisfaction
Interested in Symbols and Ideas
Give Positive Expectation about the Future
Services
Intangible Nature
Determines what the companies purpose is
Place
Product distribution
deliver a product a customer wants
customers needs and likes
Acquire
Not acquire
deliver the product to the place they want it
allows the customer to get the package soon
just in time policies
reducing flow times within a production system
A product should be in a place a target audience is
Stores allow customers to test products and hear information they want to hear
Mcdonalds
Restaurants
Kiosks
McDonald’s mobile apps
Postmates website and app, and others
Pricing
Price
The price customers pay to buy the product
Slightly Less than Competitors in the Market
Value
The value customers acquire from the product
Cost
The amount a product costs to make
As low as possible
Bundle pricing strategy
Psychological pricing strategy
Promotion
Advertisement
TV ads
Various steps shown
gives customers idea of how to use product
Street ads
Display an image of people using the product
showing the benefits only
Integrated marketing
having the same core message communicated
traditional methods
Advertising (most significant)
Sales promotions
Public relations
Direct marketing
brand loyalty
needs to know the product exists
make them believe our product is the best one on the market
make sure the product is part of their lifestyle
promote the product in sites that are most popular in the target area
does McDonalds have good marketing strategies?
McDonald features the use of all marketing strategies and efficiently uses it to claim the title of number 1 fast food chain. this is due to their use of wide access making place an easy P to check off, their prices are fairly valued and are affordable, they promote their product effectively through the use of direct marketing, public relations and celebrities, sales promotions and advertising which can be seen on streets and on TVs. They clearly stare their product being Food and all customers know what McDonalds contains just by linking their title to an item. ie; Apple is for phones, Starbucks is for coffee