Using the 4 P’s of Marketing to Appeal to Manufacturers
Ever heard of the 4 Ps? To some companies, this is the first time they are hearing about the 4 P’s. While it’s unfortunate, it’s important to acknowledge that it has a vital role to play in business marketing. The 4 P’s represents Product, Price, Place, and Promotion.
Briefly, the ‘Product’ is goods and services being offered. The ‘Price’ represents their value in the market. The ‘Place’ is the specific areas you are marketing them to. And then finally, ‘Promotion’ represents the advertisement approach, for instance, the Canadian manufacturer list.
What’re the 4 Ps of Marketing?
Four critical factors play part in the marketing of products or services to prospects. They include product, price, place, and promotion as mentioned earlier. They are also known as the “marketing mix”.
More insight on 4 P’s of Marketing
What are you selling through your company? Please note, this step is not all about identifying your product and leaving it there. You need to encourage your marketing team to identify what makes your product different from other similar ones. Thereafter, they can use the distinguishing features in marketing.
Setting the price may be as simple as considering the quality of the product and using it for guidance. However, it’s a little intricate. While you picture the amount of return to generate from the price, there’s also affordability. It’s challenging to tell whether a given price is too high, too low, or affordable.
Therefore, the best solution here is to study your prospects and understand what they can accommodate. With the help of information from the Canada manufacturing companies’ directory, you can set the best price for your prospects.
Where are your audiences found? Or, where is your business located? These are important questions before you move on to the last ‘P’. Therefore, if your business is available where your clients are not, then it’s a guaranteed loss. But where can you find your prospects? Well, try social media platforms that are relevant to your business products. Also, consider data from the Canadian manufacturer list to help you learn about the whereabouts of your prospects.
What’s your reach-out plan when it comes to promotion? Well, there are lots of factors to consider before you enroll in your promotion plans. For instance, you must use the right approach for the best result. The timing must be right to reach out to more audiences.
And lastly, you must have resourceful data to back your promotion approach.
Luckily, there are multiple tools you can rely on nowadays for this. And amongst them is the Canadian manufacturer list. This is a list with vital information about Canadian manufacturing companies, especially if you are in the B2B industry.
This information on manufacturing companies Canada will help you in answering the following vital question:
- Where is your target audience found?
- What kind of message will strike their attention?
- Info about your rivals
- What products or services are your audiences interested in?
To get access to data on Canadian manufacturing companies, contact Scott’s Info. They’ve compiled all you need for a successful implementation of the 4 Ps.