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The4ps and4 cs are most important when launching a new product or an old product in a new market.
· Pricing would depend upon whether the strategy is to penetrate the market with a low price or raise the price , sell on benefits and create a high end niche market
· Product should not be old wine in new bottle
· Promotion-For penetration marketing mass media like newspapers or TV should be chosen
· Place has lost significance now. You can buy from the store or over the internet.
· Pricing and promotion would depend upon the type of customers
· Cost – The firm should be able to break even soon and make at least normal profits in the long run
· Communication or media would depend upon the profile of the customers. If the customers are young and tech savvy internet is going to play a major role.
· Conveyance – should be the most economical. It would depend on the strategy. Is it for market penetration or just skimming the market.
I would consider them very important but not as the final strategy but as factors to consider while developing the strategy. A marketing strategy may or may not include action points on all4p's and5'c but a good marketing strategy would definitely consider the effects on all of them.
people , place , prize and product are the important four P's in marketing
4p and4C plays an important role because -
price, product, promotion, and place
consumer, cost, communication, convenience
as its is defined as a compass model it totaly depends NWSE
need , wants, security and education (product education to consumer)
