Last week, Brandon and I discussed the 4 Ps of marketing, and this week we tackle the 4 Cs of marketing. Although similar to the 4 Ps, the 4 Cs require a consumer-focused approach to marketing, and your brand strategy.
Watch as Brandon and I discuss the 4 Cs of marketing:
#MSHUnderReview: the 4 Cs of marketing from Mainstreethost on Vimeo.
4 Cs of Marketing
(Image source: Custom Fit Online)
1. Consumer (Product)
Instead of creating a product for the masses, create a product or offer that satisfies the wants and needs of your consumer. Long gone are the days of targeting the vast majority of people; think niche, and create a product that your target audience has to have.
2. Cost to Satisfy (Price)
It’s no longer just about the price of a product or offer; it’s about the overall cost to satisfy your consumer. More than the money spent, think about the cost of your product to the consumer in terms of:
- Cost to get to where you sell your product
- Cost of inconvenience of your product
- Cost of guilt or pleasure of your product
3. Convenience (Place)
Convenience is all the rage these days. The easier you make it for your audience to purchase your product, the more of it you’ll sell(in theory). Knowing where your audience likes to buy will help you determine where (online, retail, catalog, etc.) you should offer your products.
4. Communication (Promotion)
Intrusive, one-way advertisements were once effective means of promotion. However, consumers now expect advertising and marketing campaigns to be a two-way street. Creating and engaging in dialogue is fundamental; listen and respond to your consumers.
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