How 4Ps create a better product and promotes better
We are very much connected with products in our daily life.
From its innovation to packaging and bringing it to consumer, needs proper strategy to come up with a product and to be used by the consumer.
Product: First we think of the product, and how it's going to benefit the consumer. If it's food or beverages; ingredients going to play the most important role. For gadgets enabling technologies that makes life better is the USP.
Price: Price plays an important role, looking at the budget of the consumer and the competitors within the segment. There are many products available, but the market is price sensitive.
Place: The product needs better place to get sold and to reach end consumer. It can be a national product or launched in selective cities. A company needs better supply chain management if it's a physical product to reach out end consumer.
Promotion: The product needs better strategy and branding to stand out in the market and to get noticed. It needs proper utilization of the product values by defining usefulness.
The brand needs to come up with message that matches with the product and values it's offering.
When we hear Daag Acche hai, we recall Surf Excel. It has built a reputation, that way in the mind of consumers.
Nike slowly became famous for Just Do it, encouraging the sporting spirit.
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