What are the 5ps for social media marketing?

The 5 areas you need to make decisions about are: PRODUCT, PRICE, PROMOTION, PLACE AND PEOPLE. Although the 5 Ps are somewhat controllable, they are always subject to your internal and external marketing environments.

inhousemarketing.co.nz - The Marketing Mix 5 Ps- Helping You Choose the Right Strategies

Is marketing a safe career?

Marketing is a good major because it's extremely versatile and may lead to a variety of high paying, in-demand careers, with great job satisfaction...

Last updated Aug 15, 2018

Can I monetized without 4000 hours?

To monetize YouTube videos you need to accumulate 4,000 hours of watch time within a 12 month period. Only views of regular, long-form videos count...

Last updated Oct 6, 2020

Promotion

The Marketing Mix 5 Ps is a significant tool to help you select and create the right marketing strategies for your business. It forces you to think about which areas of your business you can change or improve on, to help you meet the needs of your target market, add value and differentiate your product or service from your competitors. The 5 areas you need to make decisions about are: PRODUCT, PRICE, PROMOTION, PLACE AND PEOPLE. Although the 5 Ps are somewhat controllable, they are always subject to your internal and external marketing environments. Read on to find out more about each of the Ps.

PRODUCT/SERVICE

The product or service element refers to what you are offering as a whole to your customers. Product decisions include functionality, branding, packaging, service, quality, appearance and warranty terms. When thinking about your product consider the key features, benefits, and the needs and wants of customers. For example, if you are a food manufacturer you may decide to add some new flavours to extend your range.

PRICE

The price element refers to the way you set prices for your products or services. It should include all the parts that make up your overall cost, including the advertised price, any discounts, sales, credit terms or other payment arrangements. Your pricing will also depend on your businesses position in the market, for example, if you advertise your business as a budget car rental service, your pricing should reflect that choice. Or if you are a premium food product then your price should be at a premium to lesser quality products to reflect the better packaging and quality of ingredients you offer. Promotion refers to all the activities and methods you use to promote your products/services to your target market. It includes sales, public relations, direct marketing, advertising, sponsorship and social media. Since promotion costs can be substantial, it is sensible to conduct a return on investment analysis (ROI) when making promotion decisions. Firstly, you need to establish who your target market is, what media do they consume, what the cost of that media will be, how many more sales you need to cover your investment and how you will gather the information that shows how the promotion has worked.

PLACE

What are the big 4 social media?

Instead, consider focusing on the “Big Four” of social media, which includes Facebook, Twitter, Google+, and Pinterest. While it's never a bad idea...

Last updated May 21, 2020

How can I make 5k in a month?

Practical Ways On How To Make 5000 A Month Use your phone to snap photos and sell them. ... Take up odd jobs. ... Impart your knowledge to others....

Last updated Nov 25, 2021

Promotion

The place element refers to how you get your product or service to your customers at the right time, at the right place, and in the right quantity. It includes distribution channels (e.g. via a shopfront, online or a distributor), location, logistics, service levels and market coverage. For example, if you’re thinking of expanding your business online, you’ll need to think about how your customers use the internet, if they would feel comfortable purchasing your goods online and if they would be willing to pay shipping costs for your products. If you’re looking to grow your business, you might consider changing or expanding the way you sell your products and services. For example, if you’re a homewares distributor, you might think about setting up a new store in a different location or offering franchises.

PEOPLE

The people element refers to your customers, yourself and your staff. You need to consider both your staff and customers if you’re thinking of growing your business. It includes understanding what your customers’ needs and wants are, setting targets and measuring your customer service levels so that you attract and keep loyal customers. You’ll also need to consider staff training so they have the skills to offer the best experience and meet customer expectations.

Want to know more about using the Marketing Mix 5 Ps to develop a comprehensive marketing plan?

Wherever you are and whatever your business, we can apply the 5 Ps of marketing to help your business succeed. We are happy to have a chat – just send us a message on info@inhousemarketing.co.nz. We also invite you to check out our marketing plan toolkit services, which can include training and guidance, or a more do-it-for-you approach.

inhousemarketing.co.nz - The Marketing Mix 5 Ps- Helping You Choose the Right Strategies

What career makes 100k a year?

For example, according to the Occupational Employment and Wage Statistics (OEWS) program, physicians, surgeons, chief executives, lawyers,...

Last updated May 2, 2020

How do I get 500rs instant?

You can fill out surveys, view advertisements, play online games and perform such other simple tasks to earn rupee online. Popular websites for...

Last updated Jan 3, 2019

Promotion

How to be a millionaire?

6 Steps to Become a Millionaire by 30 Start Saving Early. The easiest way to build your savings is to start early. ... Avoid Unnecessary Spending...

Last updated Jun 5, 2019

Promotion

Why do I keep losing subscribers?

There are many reasons why a user will unsubscribe. It could be because they've outgrown your videos, they're experiencing viewer fatigue, your...

Last updated Apr 30, 2019