Understanding the 4 Ps of Marketing

Marketing is a highly profitable venture, with the best returns of learning long term and immediate desires of those who are able to pay for a continuous flow of product or service placement, or at the very least, a one-time, if not, investment. In recent years The New York Times classified it as “the only art form left in town” to be enjoyed by the rich and famous. It is an ever-evolving discipline whose ultimate goal is customer acquisition at the highest levels of brand leverage. Mark Zucherberg, CPA, president of Think Marketing, Inc., says that nowadays, marketing is a two way street. “You have to have a great story to share, and you need a marketing service to deliver that story to your target audience,” he states.

Brand equity or marketing equity refers to a company’s ability to generate the most effective return on investment from the sale of its products and services to its target market. Although most companies are familiar with traditional forms of direct selling such as television, radio and print ads, which are generally referred to as the traditional forms of marketing, many companies must now engage in internet marketing in order to reach the global marketplace. As opposed to traditional sales promotion, internet marketing offers a higher return on investment due to the fact that there are billions of viewers watching thousands of different programs every day on computers all around the world. Internet advertising is one of the most effective, and least expensive, forms of marketing available.

But, what exactly is marketing? The term marketing is a broad term that encompasses a number of different strategies and techniques used to sell products and services. Marketing is one of the largest and most successful advertising strategies in the world. According to the Advertising Week Survey, marketing has ranked among the top four global areas for advertising, behind advertising through media such as television and radio, and online selling. There are many types of marketing that companies can utilize in order to reach their target market and promote their business.

According to the latest studies, more consumers are purchasing their first mobile phone or smart phone in order to take advantage of the “instant” information offered by social media marketing. Social media marketing (SMM) is a strategy where businesses create or purchase a page on a popular social networking site in order to drive traffic to their web presence. Businesses can utilize search engine optimization (SEO), pay per click (PPC) advertising, blogging, video marketing, email marketing, and even viral marketing. A thorough understanding of SEO and SEM is essential before a business can properly develop a marketing plan that will ensure the success of its campaign.

Sales Performance Marketing is a marketing strategy where businesses develop and implement a performance marketing plan in order to achieve sales success. Sales performance marketing is a comprehensive online marketing strategy that provides advertisers with a highly integrated and search engine friendly digital marketing platform. The goal of the sales performance marketing strategy is to engage customers through various channels, boost conversion rates, and drive sales growth at an affordable cost. The strategy enables organizations to generate higher revenue by maximizing the return on investment (ROI) through improved brand recognition, increased customer loyalty, and increasing sales volume. ROI is an overall measure of profit and loss generated from a marketing mix including both direct and indirect costs.

Branding Strategy This includes establishing a positive image of the company or brand. It focuses on creating a positive association between the company and the consumers. The strategies include creating and building a positive image, increasing customer retention and loyalty, as well as increasing sales revenue and bottom line margins. Internet branding provides a unique opportunity to marketers to advertise their products and services virtually throughout the world at dramatically reduced prices. Other forms of Internet marketing include Search Engine Optimization (SEO), Pay Per Click (PPC), and banner advertising. Internet promotion marketing includes pay per click advertising, search engine optimization, display advertising, as well as viral marketing strategies.

Market Penetration Strategy Market penetration is the percent of people who have access to the product or service offered by a certain firm. A company needs to target its marketing efforts to reach potential customers. A good marketing strategy will help a firm to attain its goals and objectives. There are several measures a marketing strategy should take to increase market penetration including increasing brand recognition, increasing product awareness, and improving service quality.

Product Selling Strategy Sales techniques include selling, advertising, and public relations. A good marketing plan will help in selling the products as well as in developing a distribution system that sells the product efficiently. One of the four Ps of marketing is to identify, plan, execute, and control the marketing process for the development of a product or service. Marketing is used to acquire new customers, keep existing customers satisfied, and improve the popularity of a product.