Run time: 53 seconds
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This month I’m ‘P’ing’ all over your idea of marketing! Marketing often feels like an ever-evolving landscape, with new trends, tools, and tactics emerging daily. Yet, at its core, marketing still rests on a timeless foundation: the 4Ps – Product, Price, Place, and Promotion. This expands to include three additional Ps for service-based businesses: People, Processes, and Physical Evidence.
Over the next four weeks, I’ll dive deeper into each of the 4Ps. But for now, I want to emphasise a critical point and revisit the first four:
- Product
- Price
- Place
- Promotion
Notice anything? The “promotion” aspect, the part most often associated with marketing, is just one piece of the puzzle. Here’s the truth: even the best promotional efforts can struggle or fall flat if your product, price, and placement aren’t well-aligned with your target market.
By involving your marketing team in shaping these foundational elements, you’ll improve your overall business outcomes and avoid the common pitfall of trying to “fix” problems solely through promotion. Strong foundations make marketing more effective and less of an uphill battle.
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