More examples in Strategy & Planning/Marketing Mix

4Ps Marketing Mix Example

You can use a marketing mix diagram like this to conveying the target market with the four Ps: Product, Price, Place, and Promotion.





Text in this example:

TARGET MARKET
PRODUCT
What does the customer want from the product?
What features does it have to meet these needs?
How and where will the customer use it?
What does it look like?
What size(s), color(s), should it be?
What is it to be called?
How is it branded?
How is it differentiated versus your competitors?
PRICE
What is the value of the product or service to the buyer?
Are there established price points for products or services in this area?
Is the customer price sensitive?
What discounts should be offered to trade customers?
How will your price compare with your competitors?
PLACE
Where do buyers look for your product or service?
If they look in a store, what kind?
How can you access the right distribution channels?
Do you need to use a sales force?
What do you competitors do, and how can you learn from that and/or differentiate?
PROMOTION
Where and when can you get across your marketing messages to your target market?
Will you reach your audience by advertising in the press, or on TV, or radio, or on billboards?
When is the best time to promote?
How do your competitors do their promotions? And how does that influence your choice of promotional activity?

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