4P Analysis

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What is 4P analysis?

The concept of “marketing mix” appeared in the article “The concept of marketing mix”, published by Neil Borden in 1964. Using this concept, Borden wanted to systematize and describe all the marketing tools needed to create a marketing plan for the development of a company's product. To create such a convenient tool for developing a marketing strategy Borden pushed his partner, James Culliton. In 1948, James described the company's marketer in an unusual way, comparing it with a "mixer of the necessary ingredients."

Subsequently, E. Jerome McCarthy grouped all the “ingredients” into 4p marketing mix analysis, making them easy to remember and work quickly. The purpose of the marketing mix is to develop a strategy that will increase the perceived value of the product, as well as to help maximizing the company's long-term profit in the market.

4p Analysis

Why to order 4p analysis?

4p analysis is a combination of four factors that influence a company profits and that a company can control. KATASIS marketers unite these factors to create the mix that your target audience needs. Our team of analysts, using a unique methodology, develops your unique 4P strategy plan. In the process of work, we use screenshots, comments, texts and visual materials in order to accurately describe your ideas.

Creating 4p Analysis

4P analysis for business: base model

Initially, the marketing mix included only 4 main elements: product, price, point of sale, and product promotion. This marketing mix is called the basic 4P model: product, price, pace, promotion.

The “Product” element answers the question “What does the market or target audience need?”, The “Price” element helps to determine the cost of selling goods and assess the level of profitability of sales, the “Place of sale” element helps to build the correct distribution model (or delivery of goods to the final consumer) and the element “Promotion” answers the question “How will information about the company's products be distributed in the market?”.

Product

The product is what the company offers to the market and the consumer. The product is the first thing that begins with the marketing mix. A successful product is always built on the understanding and satisfaction of the important needs of the target market.

Solutions that should be reflected in the product level of marketing strategy:

  1. Brand symbolics: name, logo, corporate identity
  2. Product functionality - necessary and unique properties of a product or service.
  3. The required level of product quality is in terms of the target market. The quality of the product should be based on the perception of consumers. (For example, for some consumers, the quality of bread is manifested through taste and smell, and for others through the wheat variety used for making bread.)
  4. Product appearance - style, design, packaging
  5. Variability or product range
  6. Support and service level

4p Analysis Development

Price

Price is an important element of the marketing mix, it is responsible for the final profit from the sale of goods. Price is based on the customer value of the product, production prime cost, competitive prices and the desired rates of return.

Solutions that can be reflected in the marketing strategy at the level of "price":

  • Pricing strategy for entering the market (penetration, skimming, etc.)
  • Retail price - it is necessary to correlate the selling price of the product with the desired retail price, if the company is not the last link in the sales chain.
  • Pricing for various sales channels. It is provides for different price levels for various parts of the sales chain and suppliers.
  • Package pricing is provided for the simultaneous sale of several products at a special price level.
  • Availability of seasonal discounts or promotions

Place of sale

The place of sale ensures the availability of the product for the target market and means that the company's product must be present in the market in the right place (where the target consumer can see and buy it) at the right time (when the target consumer has a need to buy it).

Solutions that can be reflected in the marketing strategy at the “place” level:

  • Markets where it is planned to sell the goods (including the strategy of geographical expansion)
  • Distribution channels through which it is planned to sell the goods.
  • Type of distribution (exclusive, limited list of dealers or unlimited distribution)
  • Terms of goods distribution (discounts and bonuses for dealers, requirements for display of goods for dealers and penalties, etc.)
  • Terms of goods outlay and rules of calculations (shelf level, target shelf share, number of facings on the shelf, duplication of facings, mandatory assortment, etc.)
  • Goods reserve management and logistics (level of insurance stocks, shelf life requirements, etc.)

4p Analysis Of An Enterprise

Promotion

Promotion includes marketing communications such as: advertising, promotion at the point of sale, search engine optimization, PR, direct marketing, and others.

Solutions that can be reflected in the marketing strategy at the "promotion" level:

  • Promotion Strategy: pull or push
  • Required marketing budget and SOV in the segment
  • Participation in specialized events and shows
  • Communication channels through which you plan to contact with the consumer
  • Communication geography
  • PR strategy and event marketing
  • Brand media strategy
  • Promotional events throughout the year and sales promotions

What Is 4p Analysis

4p analysis service from KATASIS

The sequence of actions in 4p analysis marketing from KATASIS is as follows:

  1. Choose those "P" that are most suitable for your company.
  2. Marketing mix for consumer goods: standard 4Р (product, point of sale, price, promotion) + packaging, positioning, profit, the process of making a purchase.
  3. Marketing mix in the service sector (for example, in tourism) may look like this: standard 4Р (product, place of sale, price and promotion) + people, process, physical environment, profit, positioning.

4P analysis table for the practical application

P’s

Goal

Fact

Indicator

Coming up

Priority / Term

Product

Target marketing mix values, which describe the ideal characteristics of the company's products for maximum profit.

The actual state of the marketing mix. It is evaluated by a marketer expertly and with the help of various studies.

perfect

The steps you need to take in order to reach your target marketing mix.

Sequence of actions with deadlines.

Place

good

Price

satisfactorily

Promotion

bad

Other P’s

very bad

  1. We represent the ideal state of the company's goods or services for each of the selected "P".
  2. We describe the actual state of the company's goods for each “P” using consumer surveys, their own opinions and expert opinions of the company's employees.Order 4p Analysis
  3. Based on the resulting table, we formulate corrective actions that will later form the basis of the marketing plan.
  4. We prioritize the implementation of corrective measures to form the correct sequence of actions and effectively allocate the advertising budget.
  5. In accordance with certain priorities, we effectively allocate the advertising budget and available resources. We make a marketing plan.

Мы - KATASIS

Мы весьма радужно проводим наши корпоративы. Особенно, если это годовщина существования нашей любимой студии! Мы весьма радужно проводим наши корпоративы.
Мы весьма радужно проводим наши корпоративы. Особенно, если это годовщина существования нашей любимой студии!

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