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The 'Four P's are DEAD!
A lot of business owners would know about the 'Four P’s' – Product, Promotion, Price and Place – but in these challenging economic times, say goodbye to the conventional way of doing marketing. The Four P’s are DEAD!
The Four P’s ‘push’ approach is finished.
In an ever-so-complex marketplace and uncertain economic climate, how can this conventional way of pushing customers to the sale be justified? The truth is it CAN’T!
The age of instantaneous and interactive information has turned the Four P’s on its head. The speed of transactions is faster, more dynamic and happening real-time. The world is moving into a more demand-based view. Customers are exposed to large amounts of ads every day. So how do you make your product stand out and above the rest?
EASY. You customize your product to suit each customer’s needs!
How to Change to the New Era of Marketing – The Four C’s:
The customer is no longer the object of a sale, selling a service, or the subject of some department loyalty scheme. You, as a business owner, must capture what is important to the customer and understand the shift from the Four P’s to the Four C’s.
Here’s a good example...
Dell, the computer manufacturer, offers basic to customized computer packages at reasonable prices for personal, home or business use. With no actual Dell store, you don’t need to worry about opening or closing hours.
They go 24/7 as you can order from their website. Not only do they cater for your basic needs but you can customize your computer by adding more advanced hardware at the click of a mouse. If you want it, they will give it to you.
As business owners, you must act as servers of customers, not suppliers of products or services. Create customizable value and keep on giving!
YBTCC Tips for how you can incorporate the 4 C’s into your business:
Questions? Contact the YBTCC team today to further discuss your options!