Getting into the strategies of promoting and selling products or services which involves marketing research and well-thought-out advertising tactic is called marketing. In marketing, the businesses design strategies that satisfy customers’ needs, increase sales, maximize profit, and beat their competition. This leads us to establish a better understanding about four c’s of marketing So basically whatever you preach to the consumers, whatever the awesome things you say about your product and services to the target group which happen to be our consumer can buy whatever you are advertising about easily at preferred price is what marketing is all about. But should it always concern business and not promotion? No, not at all.
The marketing is not only limited to selling at a larger scale and intensifying business outreach to recover the cost but also about providing an insight into customer’s thinking, buying patterns, and place as per their convenience. This is the reason a perfect marketing strategy comprises the combination of 4Ps and 4Cs. 4Ps are made up of Product, Price, Place, and Promotion key variables while 4Cs embraces Consumer, Cost, Communication, and Convenience. Now you must have observed the difference between these two variables. While 4Ps work is more business-oriented, 4Cs, on the other hand, facilitates consumers. Since the focus of the four c’s of marketing is on consumers, the 4C’s marketing mix steps away from the traditional mass marketing approach and focuses on niche marketing.
These two variables four Ps and four Cs can be referred to as the two sides of the same coin. While Ps focus on product, place, price and promotion, the Cs focus on those who buy products i.e consumers. Businesses never rest back on their laurels because there’s always something in the market that embarks trends and keep on evolving with time. The marketing mix is exactly such a tenet that is gaining over the market and penetrating its prosperity among the audience with correct communication.
What is the four C’s of marketing?
The four Cs of marketing work on the framework – Clients/ Consumers, Costs, Convenience, and Communication. This model of marketing is based on consumer wants and needs. The idea of four C’s of the marketing mix was proposed in 1990 by Lauterborn. The basic idea of four C marketing is to integrate with four P and divert action towards niche marketing rather than the mass market.
For niche marketing, it is essential to obtain detailed market research to identify those markets which are not prevalent with the companies who are in the same business as yours but may prove to be profitable. Once this kind of market is identified and understood, the four C’s of marketing can be brought into effect. The marketing mix of leveraging the four C concepts is much about niche marketing that allows you to develop one-to-one conversations.
Like kindness and courtesy are the roots of a positive customer service experience. It would all be in vain if you won’t choose for whom you are doing all these. The consumer is the root of the marketing, the question paper of your exam, the protagonist of your story; basically the crux of the matter. One of the most important things to keep in mind while creating a marketing strategy is knowing your target audience well.
According to the four C’s of marketing, companies should only sell products that the consumer wants to buy. Thus, you should research consumer wants and needs. This is the main marketing vehicle that works for businesses. In this sense, creating personas is critical. It goes beyond the traditional target audience, also including habits, lifestyle, and even their desires.
The cost variable gives more detailed information about the customer than the price variable does. This C of marketing is directly proportionate to the price. Price is the amount of money that a consumer will be willing to pay to acquire a good or service. Since the marketing mix is the fusion of controllable marketing variables but the cost is something that remains uncontrollable and inconsistent depending upon the consumers. Within the total cost to satisfy a customer need, price becomes one of the many factors of marketing.
If the product is given a price that undercuts cost to gain the market, then the company will be at a disadvantage. In such a scenario, the businesses should think about the cost of the product from the perspective of the customer. For that, what best you can do is to put yourself in the shoes of customers and keep yourself under the impression of what price you would be willing to pay for this particular product or service if you would be the customer.
In today’s world, modern technology makes it so that people don’t even have to leave their homes to buy the products and services they desire. The Internet has made things as easy as pie for everyone. Convenience while running a customer-centric business is important. Customer experience is a critical factor in determining how customers make decisions about what to buy, what services to use, where to go, and with whom to engage. A customer is not bound to actually go to a physical location to meet a need and there is an endless variety of places online to do so. This means that a marketer needs to be aware of how a particular customer group likes to make their purchases in order to make it convenient for them to buy.
Convenience not only speaks to the physical locations where your product can be found but also to the way in which that product can be purchased on your website. Is your site easy to use, and can prospective buyers contact you easily if they have a question? Many businesses do far more sales online than they do in the ‘real world’, so make sure your website is living up to the expectations that your customers will have.
You know what, if the business is an entire human organ, communication is the heart of it. Nothing would be accomplished in the business line unless you have the talent to initiate and hold up on the conversation with your client. Being able to communicate effectively with customers can lead to increased sales, repeat business, and referrals. On the other hand, not being able to can quickly lead to decreased sales, frustrated customers, and negative word of mouth. The internet has offered a variety of options to marketers for forming communication links with their target audience.
From Instagram to Twitter, YouTube, and Facebook for networking, there is an ever-evolving pool of options to choose from based on what the audience requires. The right channel for the right audience is what helps ensure the successful dissemination of the message. Most potential customers will find this approach to be annoying, and it certainly won’t build up any respect or trust in your brand within the mind of the consumer. Therefore, it is important to communicate effectively with your target audience, delivering a message that they will remember.
Advantages of 4 c’s marketing model
The basic idea to make businesses employ the four C’s of a marketing plan is to let businesses produce more and more products and offer copious amounts of services and let them cater to the need of customers which can bring a considerable change in business practices. It was Lauterborn who found that the 4P model of business is no longer relevant and thus the business needs some tactics that can address real issues based out on today’s business procedures. He devised the model and kept it consumer-centric. It was he who captured the true essence of the business and said that business is all about – Consumer wants and needs.
Provides a valuable guide for resource allocation
Every marketing effort explains the reasonable allocation of resources in business from both a human and a financial perspective. As businesses should be aware, these resources are limited and precious and should be used in an effective manner. Like many small-business owners, you probably started marketing your business even before you officially opened your doors as you talked with family members, friends, neighbors, and your favorite local lender.
As you interviewed your first round of employees, you probably engaged in a little selling, too – proudly sharing how your company would fill a niche in the marketplace by solving some problem or making your customers’ lives easier or better in some important way is a major objective of four C’s of marketing.
Adds more to the marketing relationship
The marketing mix is one of the disciplines of marketing that instead of focusing on one-time sales revisit the benefit of marketing relationships and bestow marketers with many tactics that need disposal. While most small-business owners acknowledge the importance of marketing, not every small business “waves the flag” for relationship marketing. These needed resources depend on the nature of the marketing mix that maximizes not only consumer satisfaction or delight on one hand and profit to the firm.
Complement in internal marketing strategy
Some relationship marketing tactics wouldn’t complement an internal marketing strategy, which is why you need to define the strategy first. At the same time, you want to ensure other internal measures are in place which includes, effective internal communication methods building trusting relationships among colleagues, etc.
Most of the marketing tactics require a greater investment of your time than your money, and for time-pressed business owners, this is no small order. However, internal marketing depends on the free flow of regular communication, and no one can expect employees to become ambassadors without the most important commodity of all information. It takes time to regularly provide employees with the information they need.
Example of devising 4C marketing strategy
The four C’s of marketing model facilitates these marketers to establish a connection with their audience and turn the consumer into the firm believer of the brand.
Consumer – From a practical prospect, the consumers are more likely to keep coming back for content that relates to them directly instead of to the company. As an example, a jewelry shop owner should give insights to the audience about whether this particular jewel will look good with specific apparel or there should be something else customers should consider. This allows owners to build relationships with customers, keeps bringing them back, and turns them into advocates for the brand.
Cost – The cost of the product decides whether the customer will be interested in buying that product. So why the price has to be cost-effective? Let’s understand via an example. In content writing, a well-written piece that looks elegant on the website is what we call cost-effective content. Similarly, in business, if something has to be cost-effective, it should be considered to the consumers at reliable and affordable prices.
Convenience – Whatever the content being consumed by consumers should be convenient for them. The business should make sure that it is not being compromised. Any number of factors will reduce this convenience, such as too many pop-ups or adverts or lack of optimization for a mobile device. Even with good search engine optimization, it may not be enough to assume that the consumer will find business. Therefore, the content needs to be easy to access through multiple channels such as email, newsletters, blog features, and social media posts.
Communication – The customers are flooded with a variety of means of communication. From Instagram to Facebook and YouTube, the audience can now access what is prevalent among customers. This is what the marketers are levied with options to make a customer for them. They can explore through different channels and understand the need and desires of customers to provide them exactly what they need.
What are the four Ps of marketing?
Marketing mix are the ingredients that combine to capture and promote a brand or product’s unique selling points, those that differentiate it from its competitors. We have had enough conversation about the 4 Cs of marketing and how it is beneficial for businesses to carry out the marketing strategy. Now it is time to get into the 4 Ps of marketing which are – Product, Price, Place, and Promotion. What these are and how these 4 Ps are helpful to business.
Product – The first of the Four Ps of marketing is the product. A product can be either a tangible good or an intangible service that fulfills a need or want of consumers. Whether you sell PS4 games CDs, stationery items, or provide luxury accommodations, it’s imperative that you have a clear hold of exactly what your product is and what makes it unique before you can successfully market it.
Price – How much a business charge for a product is what the price is. Though it’s simple to understand, it’s really hard to come up with the “right” price. The one that doesn’t just drive the most amount of sales but also drives the most profit. Price determinations impact profit margins, supply, demand, and marketing strategy.
Promotion – Promotion looks at the many ways marketing agencies disseminate relevant product information to consumers and differentiate a particular product or service. Promotion includes elements like advertising, public relations, social media marketing, guest posting, email marketing, search engine marketing, video marketing, and more. Each touchpoint must be supported by a well-positioned brand to truly maximize return on investment.
How to use four P’s and four C’s of the marketing model to gain a competitive advantage?
Understanding what customers want and they are searching for is very important. The marketing process that plays an important role in business is when they understand the customers they are working with. So what are the basic approach one should follow for the marketing model of four P and C? Here are the questions you should be asking yourself which would be customer-centric. You have to try to understand what customers think about products and services.
- How does your product meet those needs?
- What do consumers want from your product or service?
- How do you differentiate from your competitors?
- Where do potential buyers look for your particular product or service?
- What is the perceived value of your product or service?
- What current interactions do you have with potential clients?
While defining products, services, and your business model, you should be approaching a considerable marketing strategy for each product and brands you are marketing and promoting to clients. Hence, one should be considering these four Cs and Ps in mind whenever developing a digital marketing strategy for their business. For a small business owner, the 4C’s can provide a much-needed edge over the customers if understood and used in the best possible way. This model can also help small businesses take on bigger and more established competitors. The key point, repeated often, is to remember to identify and understand target consumers as well as their needs and wants.