No, I am not talking about sales or business advertising.
Really, we tend to forget that marketing is EVERYWHERE. People tend to believe that marketing is purely business related but in truth, we market a lot about ourselves, our lives and our environment.
What are the 5 P’s of Marketing you ask?
1. Product: Know its core benefits. Know how customers could greatly benefit from it. Once you’ve identified benefits and values, take a step back and start with the next step which “Now what?”
2. Price: Interested customers will always take the initiative to look around elsewhere for comparative prices. So yours should not be too expensive (or potential customers will go away) or too low (or potential customers will doubt your product’s credibility). That is why knowing your product’s full potential will be beneficial to assist in producing a good argument for your product’s price.
3. Promote: Do some advertising. A product will not sell by itself. You should take action to have the product known. Press releases, web campaigns, billboards, etc.
4. Physical Distribution: This does not end in delivery. There must be a clear return policy. If the product requires installation, there should be clear instructions on how to do that. Helping the customer get the best satisfaction is the best method to have returning clients.
5. People: Never underestimate the importance of customer service. Customers will always want more information to conclude purchasing decisions. They will want support when they have questions for the product.
And the 5 P’s or Marketing can really change lives… when done properly.
So how do we go about this?
Example:
Business Logic 1: How business is done
Father : I want you to marry a girl of my choice
Son : ‘I will choose my own bride!’
Father : ‘But the girl is Bill Gates’s daughter . ‘
Son : ‘Well, in that case . . . ok’
Next Father approaches Bill Gates .
Father : ‘I have a husband for your daughter . ‘
Bill Gates : ‘But my daughter is too young to marry!’
Father : ‘But this young man is a vice-president of the World Bank . ‘
Bill Gates : ‘Ah, in that case . . . ok’
Finally Father goes to see the president of the World Bank .
Father : ‘I have a young man to be recommended as a vice-president . ‘
President : ‘But I already have more vice- presidents than I need!’
Father : ‘But this young man is Bill Gates’s son-in-law . ‘
President : ‘Ah, in that case . . . ok’
How does the 5 P’s of marketing go into the above example?
Product : The Son
Price : Fame and fortune (in the eyes of the Father of course, his Son means the world)
Promotion : Twisting status around to get a better deal for the son :D
Physical Distribution: Father makes a personal meeting with everyone involved.
People : Bill Gates and the Bank owner will definitely support this marriage! (heck, they’ll get something from it too!)
This is how business is done!!
Moral: Even If you have nothing, you can get anything . But your attitude should be positive.
LOL
For more humor post, please read below:
Business Logic 2: What is Marketing?
You see a gorgeous girl at a party .
You go up to her and say, ‘I am very rich . Marry me!’
That’s Direct Marketing
You’re at a party with a bunch of friends and see a gorgeous girl .
One of your friends goes up to her and pointing at you says, ‘He’s very rich . Marry him . ‘
That’s Advertising .
You see a gorgeous girl at a party .
You go up to her and get her telephone number .
The next day you call and say, ‘Hi, I’m very rich . Marry me . ‘
That’s Telemarketing .
You’re at a party and see a gorgeous girl .
You get up and straighten your tie; you walk up to her and pour her a drink .
You open the door for her, pick up her bag after she drops it, offer her a ride, and then say, ‘By the way, I’m very rich ‘Will you marry me?’
That’s Public Relations .
You’re at a party and see a gorgeous girl .
She walks up to you and says, ‘You are very rich, I want to marry you . ‘
That’s Brand Recognition .
You see a gorgeous girl at a party .
You go up to her and say, ‘I’m rich . Marry me’
She gives you a nice hard slap on your face .
That’s Customer Feedback
