Let’s talk about marketing a little… will we? When we went to school, we were taught about the 4 Ps of marketing: Product, Price, Promotion and Place. Famously known as the Marketing Mix. Remember that? Is it what you have known all along?
Well, you are behind… sorry. The world moved on to the 4 Cs, kitambo! Let’s explore them:
Consumer – not Product
The reality is that your product is the most important part of what you do as a business. It defines who you are and why you are in business. But what is a Product without the Consumer? Nowadays, you can’t just create a product because you know how to do it and it looks cool. You have to study consumer wants and needs and then create a product for them.
Find out what people want and then “build” it for them, their way.
Cost – not Price
Price is quote subjective. Look at it this way – an inappropriate price may cost your firm a great deal of money. This can happen both through lost sales (due to a too-high price) or through money left on the table (due to a too-low price). So, what’s the best thing? Consider your entire cost and spread it. Take into account not simply the purchasing price, but also the entire cost of time spent to acquire the good or service, the cost of ownership, and even a ‘cost of conscience’ if purchasing the product is associated with feelings of guilt.
Rather than simply stating the price, ensure both sides are well balanced… to satisfaction.
Communication – not Promotion.
People hate being marketed to. I hate it when people market to me. People prefer two discussions which are what communication is. Promotion is manipulative – it’s from the seller. Communication requires a give and take between the buyer and seller (that’s nicer). Be creative and you can make any advertising interactive. Use phone numbers, URLs, email address, social media etc. – Listen to your customers when they are “with” you, even as you promote your brand!
Talk with your customers. Don’t talk to them!
Convenience – not place.
Hey! It’s the era of people-not-going-out. We are either too busy or too lazy to go looking for shops. What’s the internet for? Sometimes I go to the fuel station and ask if they take cards or M-Pesa…and if they don’t, I drive away and not come back. Or when I see something being advertised the first thing I ask is – do you deliver? You must think of convenience to buy instead of place. You have to know how each segment of the market prefers to buy – on the Internet, from a catalogue, on the phone, using credit cards, etc.
Make it easy for your customers to buy your product – in their own way!