Article on Five P’s Marketing Examples
Five P’s of Marketing covers:
Place, Product, Price, Promotion, People. Each topic explains in detail each segment that enables you to understand and implement into your business. These are the following tips, which are essential and in consequence you’ll get a remarkable plan for marketing.
1. Place:
First thing that matters is place, the area which is the hot spot for your product. As the places will be more common there will be more awareness of your product. People will commonly know about your product. Demographics and geographic of an area matters allot. You should be very selective about your place, which you are choosing for publicity or marketing.
2. Product:
Your asset infects. Product matters allot your logo on product, availability, handling and durability. After sale service, guarantee, warranty all are important factors, which effect your sale and build confidence of customer.
3. Price:
Price is directly linked with the quality. Price matters but not every time. People prefer economical things which lie in their budget but in modern era, people are aware of using qualitative things as people are getting more health conscious. Price should not involve your profit at peak, customer satisfaction should be your priority.
4. Publicity or Promotion
Which advertisement and publicity of your product, your convincing style about is also essential. The techniques used for publicity of products, different schemes you can use. Usually it isn’t paid, and at govt. level, and mostly supported in international agencies.
5. Placement or People:
Placement is in short, your mindset. Frame what you set in customer’s mind about your organization. It’s your duty to leave a good and satisfied impression. Placing the quality and benefit in his mind.
When you provide excellent customer service, you create a positive experience for your customers, and in doing so market your brand to them. In turn, existing customers may spread the word about your excellent service and you can win referrals.
Give your business a competitive advantage by recruiting the right people, training of your staff members to develop their skills, and retaining good staff.
