The 4-P approach to marketing versus the value approach consists of similar components. They are similar components but actually they are not really similar. In the 4-P approach to marketing, Product, Promotion, Place, and Price are all nouns,
Place refers to where the different places as to where this product will be available in, and promotion consists of how the organisation plans to promote their product, such as through means of advertising. In modern marketing tactics, the 4P’s are said to seen as being too-product orientated and are now taking into the consideration of the 4C’s of marketing. The 4C’s of marketing deals with a customer’s point of view. The 4C’s are; customer, cost, convenience and communication. (Extension; n.d.).
The sales presentation was successful because he takes care of his customer’s need. Merchant and purchaser don’t want to waste their time for unnecessary work. This method is a very effective to build a stronger and good relationship with their customers. In my opinion, the best aspect of the presentation is the message because message demonstrate the business goal and profits. So it should always be clear and concise as possible.
Transport, channels, location or market places should also be stressed, so the different items are available at more places. Promotion: Most of their advertisements and other marketing activities persuade customers to purchase their products by showing product features and benefits. They use promotional techniques such as TV commercials, campaigns and radio ads. Promotion is very important to increase sales, make new customers and retain current customers. Sometimes there are six or seven Ps.
The product development is the business policy of the organization which includes the development of the new designs and styles within the organization. This process conveys more business to the organization, by showing pro-activeness in design development process by knowing the needs and wants of the cutomers/buyers impresses them. Production merchandiser must keep update to buyer time to time about the product development done by organization. The buyer visits to the factory is one of the key place, where merchandiser can develop some positive confidence on the company by showing their facility and designer teams. This motivates the buyer to give the design development to the organization instead of doing themselves.
Marketing is a management process through which goods and services move from the concept or idea of a product to the end customer. It includes the coordination of four elements called the 4 P's of marketing – Product, Price, Placement and Promotional strategy. Product is the physical good that the manufacturer wants to bring into the market. It could be goods or services, for example, Samsung provides phones and hotels provide services. Price, it is one of the most important factors that contribute to the determination of the positioning of the product in the market.
Promotion included advertising, personal selling, publicity and sale promotion. It is one of the basic ideas of marketing. Later there have also been extensions of the traditional 4 P’s model. (Waterschoot & Den Bulte 1992, ; Webster 2005, ) When marketing is seen as the 4 P model, it means that marketing is seen as purely operational. .
As before sales the demands and needs of the customers are taken into consideration. While, there is satisfaction of the customers which play an important role after the sale. The marketing objective is to satisfy the demands of the customers and make
Schultz (2001) argues that the 4Ps have less relevance today, but they made sense the time they were invented. Further, Kotler et lal argue that the 4Ps of marketing mix have a number of weaknesses in that they omit or under-emphasize some important marketing activities. For example, services are not explicitly mentioned, although they can be categorized as products (that is, service products). In addition, other important marketing activities (such as packaging) are not specifically addressed but are placed within one of the 4Ps groups. Another key problem is that the 4Ps focus on the seller’s view of the market.
The stages of selling, and buying, involve getting acquainted, assessing each party 's need for the other 's item of value, and determining if the values to be exchanged are equivalent or nearly so, or, in buyer 's terms, "worth the price". Sometimes, sellers have to use their own experiences when selling products with appropriate