4P VS 4E in Modern Marketing: What Every Marketer Needs to Know
Hermine P.
Strategic Management | Marketing | QA | Doctor of Business Administration (DBA) student at SSBM and EMAS
From Product to Experience
People nowadays look for more factors when making a purchase than the product itself.
One good coffee is not good enough anymore; customers considered service, the architectural design of the cafe, comfortability of seating, aroma, and even the smile of the barista.
These are all experiences, so we need to look deeper into the customer's minds and present our product for their best experience.
From Price to Exchange
Offering the lowest price will put your business in danger.
The cheapest product is the simplest way to get people to buy it, but it doesn't last long, especially if post-purchase service or product quality are compromised.
So, we switch it to exchange. What do we substitute?
We trade value, thus considering the entire customer journey when determining the pricing, giving the customer more than just the product itself.
Customers value total satisfaction and reviews more in the online environment of today. Although you won't have to offer the lowest price if you satisfy them and receive positive feedback, you will still be able to sell and gain a large following of devoted clients who will value the product you offer.
From Place to Everywhere
Your product needs to be everywhere; physical location is no longer important.
Customers have to be able to purchase your product as soon as they think of it.
To successfully supply it, marketers must put in a lot of effort; you must have solid research supporting your claims about customer behavior, present your product to them when they want it, clinch the deal, and deliver the product on time.
领英推荐
From Promotion to Evangelism
A brand evangelist is someone who actively promotes your product or service to others because they have such a strong belief in it.
Brand evangelists spread the word about the products they have purchased.
More effective than any advertising instrument is the creation of brand evangelists.
It's word of mouth on a whole new level since millions of people can now instantly view one word of mouth through the internet.
#4pvs4e #modernmarkeitng #marketerneeds
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Quality Assurance & Auditing | ISO Standards | Food Safety Expert
4 个月I found these marketing changes very interesting, Hermine P.!? I love how you explained the shift from selling products to creating experiences. The emphasis on product quality and offering true value really stands out. Thanks for sharing these insights!
Producer / Sales Manager
4 个月Very interesting ??