Four Ps of Marketing Management

Marketing is one of the most important aspects of business that determines the success or failure of a company. Marketing is used by businesses to sell their products and services to customers. Marketing refers to the whole process an organization undertakes in order to engage with its target market, establish positive relationships, generate service-based value for the customer, and get return on investment. The key elements of marketing are the marketing strategy, the marketing messages, measurement of customer response, and tracking and evaluation of marketing results.

There is a broad concept of marketing that includes brand building, interactive marketing, direct marketing, web marketing, and channelized marketing. These are some of the sub Concepts of Marketing. Brand building is a concept that involves creating a consistent and recognizable name for a company. It includes the development of a set of values, reputation, and product that reflect the culture and ethics of the organization.

This coordinated marketing concept includes three basic areas: Satisfying Consumers, providing a solution to a problem, and exceeding customer expectations. Satisfying consumers is about offering a product or service that provides a satisfying experience and solves a problem. The solution to a problem is something that solves a need. A company must satisfy consumers in all three areas in order for it to survive. These concepts are interdependent and each influences and directs the others.

The third area is integrated marketing management. This is a concept that involves marketing concepts which are interdependent in the overall plan of action. Marketing management refers to those elements that support and drive each other. One example of this is the marketing concepts and strategies related to selling and buying of goods. Social media marketing management includes activities such as social media marketing, content marketing, and SEO (search engine optimization) marketing.

Marketing myopia refers to a common marketing concept where products or services are seen only from the customers’ perspective. A perfect example would be an advertisement showing only the benefits of the product, while ignoring or trivializing the negative aspects. This leads to marketing concepts such as “the more the better.” Instead of listening to feedback, consumers just accept the fact that a product is good enough to buy. This concept is leading to marketing myopia, where even negative aspects of products are being ignored by consumers.

Marketing myopia is one of the four Ps. The others are knowing your customer, developing your community, designing for perfection, and providing quality service. Marketing these four Ps will ensure that you get your product across to consumers with great satisfaction and value. Following these tips will ensure that you manage to sell your product to a market that has a lot of potential.