A marketing program is a coordinated, thoughtfully designed set of activities that help you achieve your marketing objectives. Your marketing objectives are strategic sales goals that fit your strengths and are a good way to stretch your business in its current situation. In order to build strong customer relationships and maximize your sales, you need to put every possible marketing tool to work for you. Marketing is a broad field, encompassing elements as diverse as advertising, brand and logo design, sales calls, Web sites, brochures, packaging, shows, conferences and other events, and so on. The more tools, the better. But the variety and complexity of choices makes getting organized and focused hard.
The Five Ps stand for the five broad areas (product, price, placement, promotion, and people) you can look to find ways to boost sales or accomplish other marketing goals as you build customer commitment to your brilliant products, services, or brands.
Product
To marketers, product is what you sell, whether it's a physical product or a service, idea, or even another person (like in politics) or yourself (like when you search for a new job). When you think about ways of changing your product offering to boost sales, you can look at anything from new or upgraded products to different packaging to added extras like services or warranties. And you can also think about ways to improve the quality of your product. After all, people want the best quality they can get, so any improvements in quality usually translate into gains in sales as well.
Price
To marketers, price is not only the list price or sticker price of a product, but it's also any adjustments to that price, such as discounts and any price-oriented inducements to buy, including coupons, frequency rewards, quantity discounts, and free samples. Any such offers adjust the price the customer pays, with the goal of boosting sales. Price-based inducements to buy are generally termed sales promotions by marketers, just to confuse the issue hopelessly.
Placement
Placement is where and when you present your product to customers. You have many options as to how you place the product in both time and space. Whether you're dealing with retail stores, catalogs, sales calls, Web pages, or 24-hour-a-day telephone services that can process customer orders, you're dealing with that placement P.
All of this philosophy is not new but has been around for a long time. It simply needs to be said more often for those in business. The recent Ebook entitled The Business Success Bible offers many thoughts and information on the many connections it takes to be successful in business. This book provides many techniques to help your vision of Business Success to come alive and to be realized with your own specific plan of action. You can shape your own vision of success and put together a wonderful application of how to achieve your own successful business including the right connections to share your success with others.
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