Replace the Four P’s with Four C’s to Better Market

September 29th, 2008 at 12:04pm Rebecca Kopf

The four P’s (Product, Price, Place and Promotion) are touted as the best avenue in which to market an organization or its items/services. However, when we work with clients, our emphasis instead is on the four C’s (Consumer, Cost, Convenience and Communication) as a more relevant way to connect marketing efforts with external audiences. Here are some differentiating factors between the P’s and C’s:

Product vs. Consumer. The theory ‘build it and they will come’ no longer applies. Companies must understand what the consumer wants and needs and match what they specifically want to buy.

Price vs. Cost. The product/service price is only one part of the consumer’s decision makers. In today’s world, also consider the cost of time to drive somewhere, the cost of guilt for eating the wrong things or the cost of the trade-off for not using the money for something else.

Place vs. Convenience. Consider all the aspects of convenience which include virtual or physical location, access ease, hours of operation and ease of transaction.

Promotion vs. Communication. Find several ways to communicate your message – from advertising to public relations and a web site to sponsorships. And don’t forget real power of word of mouth which you can influence with your product/service.

Take time to consider how and if your “C’s” are understood and met in getting your message out.

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