The P’s of Marketing was first used by E. Jerome McCarthy in the 1960s. Back then, there were only 4 P’s: Product, Price, Place and Promotion. Marketing your business was different back then………it was before personal computers and social media consisted of sitting around the television with your family and friends and having a chat! Fast forward to now and we have 9 P’s of Marketing. There are many things to consider to get your marketing just right in the digital age.
“The purpose of marketing is to sell more stuff to more people more often for more money in order to make more profit” – Sergio Zyman
Marketing is one of those vague words that really means nothing until you quantify it. To some people, marketing means selling, but they are actually two very different actions. Yes, marketing will help you sell, but it isn’t selling. Read More
As we continue our look at the 9 P’s of Marketing, it’s time to review the second ‘P’ – Position. Having defined the Purpose of your Online Marketing Strategy, we now need to find your spot in the market.
Back in the day, when each community had one butcher, one baker and one candlestick-maker, ‘position’ would have been much further down the list of P’s. Position isn’t as important when you have the monopoly! Read More
Why are People one of the most important ‘Ps’ on your list? Because without them, you wouldn’t have a business! ‘People’ refers to your staff and your customers. And how you choose them and care for them will have a major impact on your success.
There’s an old saying in business that says the customer is always right. Read More
The fourth P of Marketing is Product – and it is clearly one of the most important elements of your Online Marketing Strategy. Your product may be an actual item, or it may be a service. It is still referred to as your product, and the same marketing rules apply.
Your product was most likely what encouraged you to start your own business in the first place. Read More
First Impressions: You have about 30 seconds to catch your customer’s eye. Even the smallest tweak to your packaging can affect customer numbers. In those few seconds you need to standout, convey what the product does, and prove that your product is the best choice. Read More
One of the hardest tasks in business is to put a dollar value on what you do. Yet Price is one of the most crucial ‘Ps’ in your Online Marketing Strategy.
Pricing a service is harder than pricing a product, but both can put you in a spin. With a product, you can work out the cost of making it, add a percentage, and that’s your price. Sounds simple, right? Read more
Our next ‘P’ is Place – the place where you sell your products or services. The theory that if you build it, people will come, is not always correct. It is more effective to place yourself where those people shop.
Place refers both to your physical, and your online presence. Read More
Having considered your basic ‘Ps’, like Product, Price, Purpose and Position, it’s time to look at Promotion. That refers to how you manage your promotions and communications, and includes things like advertising, sales promotions, PR, and direct marketing.
For as long as there have been people, there has been advertising. If you want people to buy your product, you have to tell them about it. Read More
Don’t for one minute think that once your online marketing strategy is created, you can just sit back and relax. If only life was that simple! In some ways, formulating your strategy is just the beginning.
Polish is the last of our 9 P’s of Marketing. It relates to the need to continually review and improve your marketing strategy, to keep it fresh, relevant and effective. Read More