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20 Questions to Determine Your Four Ps Of Marketing

By: Linda P. Morton

The concept of marketing has evolved and changed over time, but there are certain strategies that are tried and true marketing principles. One such principle is the four ps of marketing approach.

By determining the answers to the 20 questions in this article, you can start discovering a tried and true approach that thousands of businesses have used successfully - the four ps of marketing.

What are the four Ps? They are product, packaging, price and promotion.

Four Ps Of Marketing: 1. Product Determines The Rest Of Your Marketing

The most important thing in your business is the product. Make a product that the customer wants and you will have a successful business. Make something they don't need and you will be out of business fast.

Because it is so important, there are twice as many questions about your product than about the other three ps.

1. Who wants this product?

2. How well does its features provide target market members' desired benefits?

3. How does your product compare with competing products?

4. How does your product compare with buying trends, experiences?

5. How much does your market want this product?

6. Will enough people want this product to match the supply?

7. When will the product be requested?

8. What inventory is needed for the product to meet demands?

When you know about your product, you're ready to decide how to package it.

Four Ps Of Marketing: 2. Your Package Can Help Sell Your Products

Having the product is only the first part of the battle, now you need to sell the consumer on it, and the front lines of that battle is the packaging.

Your packaging contributes to cost. The right package can save you money in distribution and eliminate having to replace damaged products.

Asking yourself these questions will help:

9. Does your package offer a distinguishing characteristic?

10. Is your package weight and size appropriate for your product?

11. Is the product protected within the packaging?

12. Is there too much packaging or is it too bulky?

By answering product and package questions, you'll be better prepared to consider price.

Four Ps Of Marketing: 3. Your Product, Packaging and Market Should Determine Your Price

You need to be able to price the product right for the customer. Fail in this and the customer may end up not choosing you because the price is too high and they don't think it is worth it, or it is too low and they think that means the product is cheaply made. Ask yourself these questions:

13. What price do the forces of supply and demand dictate?

14. Does the price of producing the product decrease as you produce more?

15. How does your price decrease as volume increases?

16. What is the most affordable price of the product in relation to volume discounts and costs?

Now that you've answered the first 16 questions, you can start thinking about promoting your product.

Four Ps Of Marketing: 4. Promotion Decisions Base on All Your Prior Decisions

Promoting or marketing your product will be much easier after you've succeeded in answering the first 16 questions. They form the base of your marketing.

You just have four more questions to complete your analysis of your four ps of marketing.

17. What percentage of your promotion budget should be advertising, sales, and other promotion tactics?

18. How have you successfully marketed other products?

19. How well does your promotion mix match your product, and its stage in the product life cycle?

20. Is the promotion in line with what your customer's want?

Once you've answered all 20 questions, you know enough to create a marketing plan.

Four Ps Of Marketing: Summary

By answering these questions, you will be able to learn to get the product from conception to sold.

Knowing the answers to these questions means you will have a much better chance of selling it to your target market.

Italian Article Marketing Directory: http://www.articolando.com

To read more about answering the 20 questions, see 4 P's of Marketing. And get your free Market Segmentation.




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