Date: 2020-10-21 21:50:59

The 4Ps of Marketing, The Marketing Mix & Basics of Branding

The 4 Ps of Marketing include Product, Price, Place, and Promotion. The 4Ps of Marketing is also referred to as the Marketing mix. 

Product, Price, Place, and Promotion are the four pillars of marketing. The Marketing Mix is another name for the 4Ps of Marketing. In this video, along with setting the product, pricing, place, and promotion for your company, we’ll go over some fundamentals of branding for beginners. You must consistently surpass the expectations you set for your customers as a brand and as a business. Your products and services should be consistent so that customers know what to expect from your brand while focusing on improvement over time.

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The 4Ps of Marketing:

Product – What you sell
Price – How much it costs
Place – Where you sell it
Promotion – Marketing strategy

Questions to Ask about your Brand:

– What is the GOAL of your brand? What experience do you want customers to have?

– What is the PRODUCT or SERVICE you are selling?

– Do you want to be a low cost PRICE leader or offer the highest quality at the best PRICE?

– Where is the PLACE customers go to purchase your product/service?

– What PROMOTION strategies will drive new customers and engage existing customers?

5 Branding Keys:

1. Defining your target audience
2. Defining a goal for your brand
3. Setting customer expectations
4. Creating consistent visual assets
5. Product/Service consistency

Main Takeaways:

You need to define what you are going to sell, how much it will cost, where you will sell it, and how you will promote it.

When it comes to branding, you want to be consistent in terms of style and voice so you can reach and convert your target audience.