The 4 p’s of marketing are product, package, price and promotion.

This series of posts provides 20 questions to help you determine your best options concerning the 4 p’s of marketing. This post will help you answer the first four questions about your product.

Who is the target market for your product?

How well does your product’s features provide target market members’ the benefits they desire?

How does your product compare with competing products?

How does your product compare with buying trends, experiences?

4 P’s Of Marketing: Product Question 1. Who is the target market for your product?

This is the first question you need to answer about your product because all your marketing should relate to you best potential customers or target market.

You should design yours to give your target market members what they want and need. Then build your marketing strategy and tactics to meet those wants and needs. You should decide all the 4 p’s of marketing with your target market in mind.

This requires that you learn everything you can about your target market members so that you can use that knowledge to make all your marketing decisions.

If you need help learning about your target market, you can get my free report by completing the form below:

I’ve posted questions to help you get started. Here’s the link to the first post which links to the second. Questions About Your Target Market

4 P’s Of Marketing: Product Question 2. How well does your product’s features provide target market members’ the benefits they desire?

Once you know your target market well, you’ll know what benefits they want in a product like yours.
Then you can give it to them through your product.

But if you’ve already created your product, you can still determine what features best gives them what they want and concentrate on the benefits of those features in your marketing.

4 P’s Of Marketing: Product Question 3. How does your product compare with competing products?

You have to know how your product compares to competing products. You can get information on how to do such a comparison on another of my posts: The Effect Of Competition On Pricing Strategy

Although this post relates to pricing, it will help you compare your product to your competitors’.

All of my posts last week also relate to competing products. You can access the first one here, then each links to the next one: Competitor Intelligence Statistics

4 P’s Of Marketing: Product Question 4. How does your product compare with buying trends, experiences?

You should know the types of products that your target market buys, how well other products like yours have sold in the past, and sales statistics for competitive products. This information will give you a good estimate of how well your product will sell.

You can access the next post on the 4 p’ of marketing at 4 P’s Of Marketing: Product 2.

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Posted 6-9-08: 4 P’s Of Marketing:
Product 1

This entry was posted on Monday, June 9th, 2008 at 7:24 am and is filed under Marketing Mix, Product.You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.