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I think the following4 Cs is fine to conduct the market analysis:
1. Consumer
2. Cost
3. Convenience
4. Communication
dear Mayez the4 p's are product, price, place and promotion and currently people consider them7 p's
as for you Ashraf i am pretty much sure that using both with a brief analysis will be better for you to have an accurate one
Consumer
2. Cost
3. Convenience
4. CommunicationProduct
2. Price
3. Promotions
4. Place
Markets are becoming more consumer oriented so its better to go with4cs because4cs mainly focus on customers whereas4ps focus on product. And its common fact that more satisfied and enhanced customer is the more vibrant the growth is. or you can undersatnd in this way...
1C(Consumer) what they are after or what they want
2C(Cost) what price thet are willing to pay
3C(Convenience) where it is easy to buy
4C(Communication) give and take...enhancement, feedback
So i ll recommend4cs cause practically every business is about selling exceptions can be made though.
I hope it helps..Thanks
At the Outset a company means a service or a brand and it needs a brand strategy:
Many Marketing Jargons come to your mind one of them is4 C,s and4 P's and go in tandem with each other.
1.Product. 1.Consumer
2.Price. 2.Costs.
3.Place 3.Consumer
4.Promotion. 4.Communication.
Apt Marketing needs both P's and C's and should be looked as reciprocal to each other.
1.What are the consumer needs and what does he/she want v/s Product.
2.Do you have a price to your product to satisfy your consumer after the product cost.
3.Do you have the right market and convenient market to sell your product against a given place.
4.Are you communicating about the product as per need v/s promotion.
.
I think4 p's,7p's,9 p's or4 c's ... doesnt matter, all of these tools are "tools" to help you or to remind you of the areas you have to analyze but you can also develop your own and you can use both
Good luck
For those who don't know,
4P's stand for:
1. Product
2. Price
3. Promotions
4. Place
While4C's stand for:
1. Consumer
2. Cost
3. Convenience
4. Communication
A) Today, the4C's has proved that it is more efficient for our fast paced environment. Today it is the understanding of the consumer and its needs rather than the product itself. Price isnt a reliable way to measure income and success as today, in most businesses, there are more logistics or costs to be involved (and other ways of income). Regarding to Place vs Convenience, this is an easy one; today, in many businesses, place is irrelevent, location is un-obligatory, with social networks, shopping sites, wire transfers or the web in general. Finaly, promotion - promotion today is a small part of communication - mass communication covers it all!
The both tools like4 p's and4 c's are very important to plan the marketing strategy for a new product in the market .
Marketing is the process of planning and executing the conception,
1.pricing.
2.promotion.
3. distribution of ideas.
4.goods and services that satisfy individual and organizational goals.
Mr.Ashraf I would suggest you go for both.
Allow me to explain for those who don't know what's4P's -7P's and4C's are
4p's and7P's related to product
4P's stands for:
1- Product ( quality - design - features - size - service - variety - packaging - warranties )
2- Price ( list price - discounts - credit terms - allowances )
3- Place ( channels - location - coverage - transport )
4- Promotion ( advertising - sales promotion - sales force - public relation )
7P's stands for:
1- product
2- Price
3- place
4- promotion
5- People( management - culture - customer services - employees )
6- process ( it's more to the service industries - how are services consumed )
7- physical enviroment ( smart - run down - interface - comfort - facilities )
4C's related to consumer and it stands for:
1- Consumer ( consumer orientation - product capability - capability match )
2- Cost ( price paid by customer - value vs price mapping )
3- Convenience ( location to deliever - how to deliver )
4- communication ( communication channels - brand ambassadors )
