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One of the key principles taught in marketing is 4P's marketing or marketing mix. It is all part of a rather effective campaign strategy in the same period. In fact, marketing 4Ps are significant, since together they shape your company's marketing strategy.
In four classes of factors widely known as the four Ps, can be divided the marketing mix:
• Product: Products and/or services offered to its consumers by a corporation.
• Price: the sum of money spent to purchase the commodity by consumers.
• Place: operations that deliver the commodity to customers.
• Promotion: practices that express the characteristics and benefits of the product and convince consumers to buy the product.
As an example, we can take Pepsi company.
• Product: There two main product types of Pepsi. Beverages and food products. Pepsi, therefore, expanded both the breakfast and the snacks segment, in contrast to its major competitor Coca-Cola. On the other hand, Coca-Cola is only present in the drinks section. Pepsis snacks have the benefit of being quite desired by-products like Lays, Culture, and Cheetos.
• Price: Pepsi is in the market controlled by Coca-Cola and Pepsi, all biggies. The price of Pepsi is also low. None of the companies will win if they join the reward fight in a battle between Coca-Cola and Pepsi. The cost of production and transport is enormous. So, instead of entering price wars, these companies are likely to enter a brand war.
• Place: Pepsi has an extensive worldwide distribution network. It must be enormous as the company needs to be available in all parts of the world to maximize its revenues.
The main method of distribution is through retailers, restaurants, and convention centers. It is the main mode of distribution. The secondary way of distribution is to buy bulk and main retailers directly from the company. Directly via the company.
• Promotion: Pepsi maintains its brand image through its promotions. One of its strongest reasons. Pepsi primarily approaches young people through specific brand ambassadors. Both the brand ambassadors and the stars of the national sport, such as Leo Messi, Mohamed Salah, Marcello, Kroos, etc., have become the strongest celebrities. For its ads, Pepsi utilizes multiple advertising outlets. Pepsi is also involved in BTL commercialization alongside ATL. Pepsi also uses commercial promotions and sales promotions at the point of purchase in conjunction with traditional media channels. Reductions and pricing are often combined to provide the consumer with the right mix and availability for further sales and for commodity stock.
Traditional marketing does not authorize direct consumer contact, whereas digital marketing promises a higher degree of engagement and collaboration. Your target audience is connected to you through various digital marketing channels, be it via social media comments or email messages.
Although traditional marketing still works, it is not the only way you can make your product popular with your target market. Today, technology has evolved and allows businesses to interact like never to their customers. Therefore, before investing in traditional marketing; it is important to take account of the disadvantages.
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