Question

. “The 4 Ps are all a marketing manager needs to create a marketing strategy for a service business.” Prepare a response that argues against this, and support it with examples.

Answer 1

The 4 Ps are all a marketing manager needs to create a marketing strategy for a service business

Explanation:

• The four Ps are a method to help keep marketers on track. They concern the main elements that should be analyzed and optimized by all successful marketing promoters. But it's old thought to develop a marketing strategy around people, places, prices, and promotions. It's come from an era when we didn't have any real customer info or a lot of conjecture and survey results
• The four ps still matter. Yet with all these new channels introduced and competition increased, they are no longer adequate. They should be the core of the strategy planning, but what more you can do must be looked at.
• You need to examine which other areas you should be aiming to make a difference in and then add them to your strategy. Price, product, promotion and place are all still vital in marketing. However, they must be consumer led.
• The psychological causes that encourage people to purchase their product or service are the same as before. People are interested in more money, more power, more control, more comfort and time. People want more and more. The difference is how you figure out what they want and how you can help them to achieve it.
• This is incredibly necessary because 76 per cent of the customers expect you to know exactly what they want. Fortunately, the same customers are highly engaged with the brands they want to purchase from. You must include the consumer at all times to ensure that you move in the appropriate direction with your 4 ps.
• In order to give you a start, you must conduct a comprehensive customer research. Then after your initial strategies and services have been decided and performed, your customers must be reengaged to see in what way your actions can be enhanced. You are effectively turning the 4 Ps into the 5 Ps with the addition of people.

To know more

Define marketing. Discuss the 4 Ps of marketing. in 600 words ...

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