The four P’s of marketing: price, promotion, place, and product have been used through time to assist any kind of business or company strategically try to find the best fit for their product into the ideal market for them. The importance of having such strategy, as the four P’s, can be the key to a change or boost in the predicament a company may find themselves in. The idea of promoting a product is strenuous, in the fact of, considering everything that needs to be considered in the process of promoting. These needs are exactly what the four P’s have addressed in a method to help connect the dots in marketing. Over time these tools have become more advanced through technology. In this case, customers and consumers are able to communicate more efficiently to understand what each other is looking for in a product or service. The difference years have made is the overall speed in which we are responding to each other is almost instantly. Many companies offer their assistance 24/7 to consumers needs. In a way, this has made it easier for marketers to feed off of what their consumers are saying in a faster manner.
In a networked world it is all about the connection, so I have to say that the internet the reason why being connected is easier. Many people are needy for information, the faster and easier they can get it the happier they are. Which is why managers have changed their techniques for planning the four P’s to adapt to their consumers. When a product or service is being presented by a business it typical way may be through the internet. These tasks could go through email, facebook, twitter, and etc. If a consumer show interest in a product the company is then able to go forth and keep their consumer aware of any new product through these sources consumer may give to them. A marketer can plan the whole process of product development through the internet.
One implication of how the networked world has affected the planning could be the act of introducing a product of the basis of feedback. A general example would be an existing product that has received quite a few feedbacks, some may be applauding and others may express what they wish they could add to your product. In this case, you may build off the feedback received and venture off from that or improve for the future. Feedback has changed because a high percentage of people have access to the internet, therefore, there is more feedback for these companies to see, and whether it is good or bad there is more of it for people to set their own judgment. Typically, when a customer would like to purchase a product, a little research goes into the process, in which, a customer has the ability to view the feedback. This tool makes it easier and faster for consumers to research efficiently before they consider buying.
One example the changes of product development has on a company is TOMS. Over the last five years that this company has been in business they have been able to promote not only a great product but an even better message. TOMS shoes were not offered in stores in the beginning because of the lack of staff they had to make the shoes, so this company started off as online based only. The first products introduced by TOMS were shoes, their motto was, “One for One.” What they mean by this is, for every pair of shoes purchased, a child in need would also receive a pair of shoes. From being entirely based on the internet, to know selling in numerous department stores, and also online, TOMS has made themselves quite a name.
Refrences
http://amarillo.com/news/local-news/2011-04-06/students-bare-their-soles
http://www.toms.com/blog
No comments:
Post a Comment