Reminder: Click the blue text above to follow "FMCG Distributor Professional Consulting" for more insights on marketing and distributor management.
When mentioning the "4Ps," many of you might have heard it so often that it's become cliché. You might even confidently smirk and dismiss it as too old-fashioned. "Still talking about the 4Ps?" you might say. "Hasn't it evolved into the 6Ps or 8Ps? And now we have the 4Cs!" But wait—philosopher Hegel once said that the terms we frequently utter are often the ones we understand the least. It was this classic quote that prompted me to rethink the essence of the 4Ps. Let me, Liu Jie, explain one by one.
The Essence of Product
Product stands at the top of the 4Ps. The authoritative definition is anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need. It includes tangible objects, intangible services, organizations, ideas, or combinations thereof. Products generally have three levels: core product, actual product, and augmented product. The core product is the direct benefit or utility provided to the buyer; the actual product is the tangible form in which the product appears in the market, including quality, features, design, brand, and packaging; the augmented product is the additional benefits provided to customers, such as delivery, installation, warranty, and after-sales service. Wow, that's a long definition! It's hard to remember without spending time. Don't worry—I think you only need to remember four words: value and experience. Think about it: isn't the ultimate goal of a product to appeal to consumers? Isn't it to create unique value for them? Isn't it to ensure their consumption experience is satisfying?
The Essence of Place (Channel)
When we talk about channels, various types come to mind: department stores, hypermarkets, supermarkets, convenience stores, and even the internet! Not to mention how to excel in these channels—just classifying them is a task in itself. The marketing world once touted "channel is king" or "those who control the channel control the market," so the importance of channels is self-evident. But what is the essence of channels? I believe you only need to remember six words: coverage and convenience. Think about it: a channel is simply the path through which products reach consumers. The ultimate goal of channel management is to make products visible everywhere and convenient for consumers to purchase.
The Essence of Promotion
Promotion, as the name suggests, means promoting sales. Who promotes? The company. To whom? To consumers. Therefore, the essence of promotion lies in interaction and communication. Since you want to sell to consumers, you must first interact with them. Without interaction, how can you promote? But will interaction guarantee a purchase? Not necessarily, so you need communication. What kind of communication is most effective? China Mobile's slogan says it well: "Communication starts from the heart." Companies talk about promotion every day and do it every day, but few truly communicate with consumers at an emotional level. This is why promotion is becoming less effective.
The Essence of Price
Who decides the selling price? The company or the consumer? The answer is neither alone—both must agree. In other words, on the issue of price, the company's and consumer's interests are fundamentally contradictory. Companies want prices as high as possible, while consumers want them as low as possible. So, you see, the essence of price is balance. Balance between what? The balance between maximizing corporate profit and consumer acceptability. If the price is too high, exceeding consumer expectations, the company has profit but no sales. If the price is too low, there are sales but no profit. So, isn't balance necessary?
Chairman Mao taught us: "We must look at the essence of things and treat appearances only as guides; once we enter the door, we must grasp the essence. This is the reliable and scientific method of analysis."
The "4Ps" have "caught" you again to understand your essence. Sorry! Is that right? I'll leave it to you to judge.
Daonong recently launched a public account specifically discussing how traditional enterprises can excel in WeChat marketing. If you're interested, you can follow it by searching the WeChat ID above or scanning the QR code below.