4 P’s Marketing Campaign and Target Audience
Product, Price, Place, and Promotion are the elements of a marketing plan. Work out all four variables to formulate a holistic marketing campaign. A successful marketing strategy encompasses all the 4 Ps to avoid any variable in a certain market.
The 4 Ps marketing campaign must ensure that these four elements are perfectly aligned while targeting a market. It becomes possible to perfectly align with the needs and wants of a target market.
This is impossible without the input of a seasoned advertising agency. For example, the Reddit Ads Agency has 116 million daily active users and 500 million monthly visitors globally. So they have an extensive data reach due to their active users. It is simple for them to track the purchasing history of their consumers around the world.
1. Product:
The product of a brand refers to the actual goods, services it is presenting in the marketplace. A brand can prepare a product or service by tracking the information given by the Ad agencies. The Ad agencies have the information regarding a certain marketplace. This helps to present a product according to the will of the target market. So the role of the advertising agencies is crucial in adding the features of a product or service.
The product refers to the actual physical product and the extra services regarding the after-sales services.
The ad agencies are incremental in:
- Product features
- Waranties
- Claims
2. Price:
The second factor in the 4 Ps of the marketing offering is the price of the product or service. The price refers to the monetary value that a brand is offering in a certain market. The Reddit Ads Agency provides sufficient data to set a reasonable exchange rate for a product or service. The pricing of a product or service includes the list price, discounts, payment terms, and financing options.
The pricing depends upon certain given factors:
- Customer Satisfaction Level
- Precived Value/Buying Power
- Repurchase Factor
3. Place:
The 3rd factor in the 4Ps matrix is the Place, or the distribution channel of a product or a service. The distribution channels are the hands of a brand. The distribution channels through which the customer can access the product without much difficulty. This includes physical retail locations, e-commerce websites, warehousing, and logistics.
There are different elements of the distribution channels:
- Whole seller
- Retailers
4. Promotion:
Promotion or advertisement is the 4th factor of the 4Ps matrix. It is one of the critical factors in the education of your target market. The advertisement involves public relations, social media, and sales promotions, etc.
In the changing dynamics of the business world the digital marketing is key for reaching the target market. The Reddit Ads Agency provides real-time data to create an effective digital marketing strategy.
The elements of digital marketing are:
- Website Design Plan
- Social Media Plan
- Mobile Optimization Plan
- Content Stratgy Plan
Conclusion:
Brands are hungry to know the purchasing history of their targeted market. The buying behavior of a marketplace depends upon the demographics of the market. So developing a 4 P’s strategy is necessary to cover all the dynamics of a marketplace.
