Marketing Mix 4C’s
Marketing mix 4c’s is one of the business tools that you should take advantage of as an internet marketer. It’s a modern version of the 4Ps (Product, Price, Place, and Promotion).
The 4Cs (Customer/consumer value, Cost, Convenience, and Communication) enables you to think in terms of your customers’ interests more than your own. From being business-oriented, you’ll become customer-centric.
Customer/Consumer Value
Your marketing campaigns must focus on bringing value to your consumers/customers. You may want to follow these tactics to create more value for your customers/consumers:
- Address the needs and wants of your customers/co nsumers, and minimize the cost of your solution.
- Unify your goals of (a) generating income or making money from your business, and (b) delivering high value to your customers/consumers.
- Be proactive in delivering solutions to your customers/consumers. Become their partners in writing their own successes.
- Speed up your turnaround time. Increase the efficiency of the delivery of your services or products.
Cost
The price of a product or service is the amount you set for the item/s the customers/consumers will get from your business. This is from the business’s point of view.
Cost means you need to consider how much your customers/consumers are willing to pay for the value of your offer (product or service). It also depends on the type of market you are targeting to capture.
For instance, if your target is the A-B crowd, your product or service should carry premium costs. If the market is C-D, costs must be lower. Thus, you have to know what type of customers you wish to target.
For your ready reference, here are the three common types of consumers:
- Status-conscious – These consumers want first-rate products or services and are willing to pay for the cost of the item(s). They look at these products/services and corresponding costs as a way to define and maintain their status.
Convenience
Using the marketing mix 4c’s, convenience means that you make it easy, simple, and fast for your customers to avail of your product(s) or service(s). You provide them everything they need to buy from your business.
Thus, it is important to:
- Simplify the process your customers have to go through in doing business with you.
- Make your customers feel good about complying with your business process.
- Consider rewarding your customers for complying with your business process and for their loyalty to your business.
Communication
The final element in marketing mix 4C’s is communication. With this marketing mix, you do not “promote” your business; rather, you communicate value to your customers/consumers.
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