You have certainly heard about the 4 P’s of marketing, haven’t you? Well, the P’s are not the only ones that have made a name for themselves! Let’s just say that this concept has evolved and there is now the 4 Cs of marketing!
Like practically everything in life, marketing has also changed dramatically and has transformed and addressed concepts that are even more complex. Therefore, it is possible to create better strategies to win over more customers and understand their behavior better.
And new trends always emerge in the marketing mix. The 4 Cs of marketing, a concept entirely focused on consumers, is one of them.
But, what is it anyway?
This concept is still very much alive in the minds of those who work with marketing strategies, but it doesn’t hurt to review it, right?
It was developed by Jerome McCarthy, based on Neal Borden’s studies back in the 1950s.
The 4 Ps of marketing or marketing mix, are: Product, Price, Place e Promotion.
The product is at the core of this concept, and this is why it’s the first P. In addition to the goods and services themselves, this point is concerned with everything related to the product, such as packaging, design, warranty, etc.
The second P is the price as in the price of the product and everything related to this aspect, such as discounts, financing, and payment terms.
Place refers to where your point of sale is inserted and the entire distribution of your product. In short, it refers to the logistical aspects of your business.
And finally, promotion, which concerns the promotion of your product, such as sponsored links or even product placement in traditional media.
These are the 4 Ps, which for a long time, were the main pillars of the area, evolving into the 4 Cs of marketing.
So, read on how each of the 4 Cs can help you when the time comes to outline your business’ marketing plan!
If the Ps focus on the product, now it’s time to pay attention to those who buy, their needs, their satisfaction, convenience, and of course, how you communicate with them.
This idea within the marketing mix has been under development since the 1990s by Robert F. Lauterborn.
Although this is an “evolution”, the two concepts can coexist, allowing you to have a more assertive strategy and that dovetail better with the consumer’s journey.
But do you know what each of the 4 Cs of marketing means?
The first C is precisely the protagonist of this strategy, which is the customer.
One of the most important aspects when creating a marketing strategy is knowing your target audience well. After all, this is the only way of offering a solution to the problems faced by potential customers.
In this sense, creating a buyer persona is critical. It goes beyond the traditional target audience, also including habits, lifestyle and even their desires.
And I mean anything you can do! Because, once you know your customer in-depth, it becomes much easier to create quality products and services.
Therefore, in the 4 Cs of marketing, think first about your customer and everything else will come easier.
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In terms of the 4 Ps, this would be the time to talk about Price. But this isn’t the case here. In fact, don’t think that we’ve substituted one word for a synonym. After all, the cost isn’t the same as the price.
Here, what we need to think about is cost as a whole. This includes everything that customers (there they are again) will need to spend to purchase your product or your business expenses to offer it.
Cost also takes into account other factors besides the price itself, such as the time it will take for consumers to receive the product (an important factor in the case of e-commerce) or go personally to your point of sale.
And of course, it also includes the benefits that consumers will have with your product or service, which need to be measured when the time comes to decide the final cost.
Previously, Place. Now, Convenience.
If place refers to the exact place where your store is located, convenience embraces more elements than the place itself. This factor is closely linked to the public’s access to your product.
Based on your persona’s behavior, you should be able to know if your customers prefer to shop online or at bricks and mortar stores, and what they are willing to do in order to buy your product.
Therefore, much more than the physical aspects, we’re also talking about the customer’s experience with your brand.
If closing a deal with you isn’t convenient, the public will probably go to your competitors.
VIDEO: How can you create an amazing sales page? | Hotmart Tips
The fourth and last of the 4 C’s of marketing replaces promotion. Communication deals with how you connect with your customers.
This is where marketing professionals need to position their brand in the marketplace, maintain the business’ reputation and communicate in the media used by customers.
Communication is about dialog, about how the business can amaze the target audience, unlike promotion, where you had to persuade someone to buy.
Therefore, communication is directly linked to interactivity. And social media is among the main tools to create this dialog.
But don’t think that communication only includes social media engagement. It encompasses the creation and distribution of relevant content for the audience.
You need to remember that this interaction will always vary according to the consumer’s journey. After all, at each stage, the audience needs a different approach and content.
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As you’ve read in this article, marketing is constantly changing. From one moment to the next, new elements, especially those coming from the internet, make consumers behave in one way.
And the 4 Cs of marketing are concerned about how to understand customer habits and behaviors, and how this can help you sell more and better.
The 4 Cs of marketing help a lot when creating a more effective strategy, which adds value to the product and especially, satisfies the customers’ needs.
And of course, this strategy also depends on other factors related to content marketing.
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