All posts in "Thoughts"

How I Improved My marketing In One Easy Lesson

Marketing is the most challenging after starting a business. If we miss developing the marketing strategy, we fail very harder. I read many books and articles but the old yet powerful strategy I loved the most is 4P.

P1.Product
P2.Price
P3.Place
P4.Promotion

More on this plan can be from WikiPedia , This blog covers my understanding and the strategies for success in marketing. May strategies may vary from original strategy.

P1: Product
Product selections are the most important factor to be successful in marketing. By not limiting the product by only software or hardware, the product can be your blog post as well. We need to innovate in all factors.

Many companies choose the products available in the market and try to innovate them from the inputs by different users. This is one of the best strategies to learn from other products and make the product that can help making others lives easy.

Never build a product by keeping money in mind first, build a product that can help the society. 

If you are considering to build a mobile application, check what are the issues that you are facing in daily life. Take it as a concept. If something is making trouble for you, it must be creating trouble for others as well. Providing solution for it will make not only your life easier, it will make other people life easier too.

P2: Price:
Product pricing is another factor that can make any successful marketing a big fiasco. Before launching a product marketing camping we need to make sure that the product pricing is properly justified. Many times people leave the website or do not buy the product for only one factor that is the pricing.

Product pricing must be followed by the product features. Failing in listing the features before the pricing will leave the customers in confusion for the product pricing and will let the customer leave site/place without purchasing a product.

Meeting customer needs is the most important factor, and pricing is one of them.

P3: Place:
Where are you going to do the marketing is also one of the most important factors. For the offline marketing, if your targeted users are youth or the college students, you can put the marketing banners at near to the hostel or colleges.

For the online marketing if your targeted users are from the teenage, then choose the website or portals where users from the same age group.

P4: Promotion:
Promoting the product to different people different way is marketing 2.0. Usually, we come up with the plan where we try to push the same promotion to everyone. All the customers have different needs, for example, some customers love to go with the cash back as compared with some gifts. We need to understand customer and provide them more choices as promotion package.

Considering all above options I ask following questions before initiating the marketing campaign.

1. What is the product?
2. What is the price and how can we justify it?
3. What is the place for marketing and what are targeted users?
4. What are the available promotions and how can we improve them?