4 C's of marketing
Remember the 4 P's of Marketing? Well i had discussed them with you in detail. If you haven't read them by now, no issues! I'll make sure that still you can make the most out of this post. This time i touch on another important topic in the field of marketing, The 4 C's of Marketing. Don't confuse these 4 C's with that of 4 P's because the two are entirely different in each and every sense! The 4 C's model was proposed by Prof. Robert Lauterborn in the year 1993 and it is explained in detail here.
4 C's of Marketing
1. Product becomes Consumer's wants and needs
Each and every product you see in the market, is based on what the consumer wants but not on what the producer wishes to launch! So, it wouldn't be hard to say that in a world where there are 88% consumers and rest the producers, the former easily dominates the market. Therefore every product is designed in such a way that it fulfils the consumer's need. A product failing to do so fails in a while and is later discarded. Developing a product with different specifications and requirements than those of consumers and then wishing to sell it in the market is just like striking an axe on your foot. This is simply the wrong approach. You should always study the market, observe and analyse the current trend and then develop a product. And as J.P. Cancilla has said "Build it and they'll come", his statement has clearly expressed everything!
2. Price is replaced by Cost
One has to understand a basic principle that price is a part of cost to satisfy the needs. It reflects the total cost borne by the producer. Cost indicates the expenditures that have occurred in the process of developing the product, it's promotion, it's transportation etc. etc. So it would be unwise to say that cost and product are same.
3. Promotion is replaced by Communication
Ask any marketer and he can tell you that promotion is many a times manipulative. It's simply done to increase the sales. On the contrary, Communication is an exchange or give and take of information between a customer and the producer. Communication always represents a broader sense than promotion. Effective communication for marketing(a link here) purposes include advertisements, billboards, tellecalls, newspaper, magazines, radio, TV commercials and much more.If you are creative enough to arouse the consumer's interest, you have successfully done more than half the job!
4. Place becomes Convenience
A marketer has to be well aware that a place he chooses to launch his product might not be convenient for every customer. So he must choose a convenient channel from where his target audience can communicate with him. In today's world, internet, phone, credit card, debit card and many more things offer this convenience to the customer. The ease with which a consumer can buy a product is essential! With the advancement in technology, place is no longer seen as a relevant idea.
CONCLUSION
The sole aim of 4 C's model is that it gives more importance to customer's perspective than the producers. They reflect consumer oriented approach of marketing. The only difference between the two marketing mix strategies is that the 4 C's push you to think like a consumer and not as a producer!
Time to bid you bye! See ya! Happy Reading! :D
Recent Comments
1
seems to me that the 4 C's is simply restating the 4 P's
there is a slight shift in emphasis, but the ultimate goal is to have a consumer purchase your product/service rather than some other product/service or from someone else
all the best,