20 Questions To Determine Your Four Ps Of Marketing

Everyone is always trying to find the new strategy that will allow them to turn their product from blah into Bam!, but it's harder than it looks. But you can to produce a product that people want, by answering 20 questions about the four ps of marketing.

This marketing principle has been used successfully for years, but still many business owners don't understand how it works or how it can benefit them.

For that reason, this article provides questions on the four ps of marketing: product, package, price and promotion.

Four Ps Of Marketing: 1. Your Product Influences Your Marketing Decisions

The most important thing in your business is the product. Make a product that the customer wants and you will have a successful business. Make something they don't need and you will be out of business fast.

Because it is so important, there are twice as many questions about your product than about the other three ps.

1. Who wants this product?

Will this product satisfy the needs of your target market?

3. Does your product have something that competing products do not?

4. Is this product in line with consumer trends?

5. Is the market strong enough to warrant producing your product?

6. Will enough people want this product to match the supply?

7. What's the likely time frame for the most orders?

8. What is the amount of product that you need to meet demands?

When you know about your product, you're ready to decide how to package it.

Four Ps Of Marketing: 2. Your Package Can Help Sell Your Products

Having the product is only the first part of the battle, now you need to sell the consumer on it, and the front lines of that battle is the packaging.

Your packaging contributes to cost. The right package can save you money in distribution and eliminate having to replace damaged products.

Ask yourself these questions before making your final packaging decisions:

9. Does the package provide any advantages over your competitors'?

10. Are the dimensions of the packaging appropriate for the product?

11. Does your package provide enough protection for your product?

12. Is there too much packaging or is it too bulky?

By answering product and package questions, you'll be better prepared to consider price.

Four Ps Of Marketing: 3. Your Product, Packaging and Market Should Determine Your Price

You need to be able to price the product right for the customer. Fail in this and the customer may end up not choosing you because the price is too high and they don't think it is worth it, or it is too low and they think that means the product is cheaply made. Ask yourself these questions:

13. Does the price of the product match the demand of the product?

14. Does the price of producing the product decrease as you produce more?

15. How much does the price decrease with volume changes?

16. What is the most affordable price of the product in relation to volume discounts and costs?

Now that you've answered the first 16 questions, you can start thinking about promoting your product.

Four Ps Of Marketing: 4. Promotion Decisions Base on All Your Prior Decisions

Promoting a product is how you sell it, so it has to be done right or you won't sell one product and your business will go under.

The remaining four questions will then leverage your marketing strategy and tactics.

17. How much do should you spend on different promotion tactics?

18. Does the promotion match how you market your other products?

19. How well does your promotion mix match your product, and its stage in the product life cycle?

20. How well does your promotion mix match your target market?

After you've answered these last four questions, you'll be ready to develop a marketing plan.

Four Ps Of Marketing: Conclusion

The Four Ps of Marketing build from answering the 20 questions. Answer all of them before deciding on a product, pricing it, packaging it and selling it.

Knowing these questions and their answers, will translate into long-term success for your product and your company.

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To read more about answering the 20 questions, see 4 P's of Marketing. You can also get marketing help with free Market Segmentation.

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