You have read about the 4 Ps of marketing and perhaps you have also read about the 5 Ps of marketing and even the 7 Ps of marketing. Though I am a fan of alliteration, I will instead share a non-alliterative list of the key elements of marketing. Here they are:
- Who is the CUSTOMER for this product, service or experience?
- What is the CUSTOMER NEED this product or service or experience fulfills?
- How am I making the target customer AWARE of my product, service or experience?
- Why would the target customer choose my product, service or experience over that of the competitive alternatives? That is, what is my product, service or experience's UNIQUE VALUE PROPOSITION?
- What KEY MESSAGES am I making about this product, service or experience?
- Have I created a compelling BRAND IDENTITY for this product, service or experience?
- Have I created a compelling BRAND STORY for this product, service of experience?
- Am I offering this product, service or experience at a COMPETITIVE PRICE for this target customer?
- Are the functional, experiential, emotional and self-expressive benefits worth the time, effort and money required to purchase the product, service or experience? That is, does it deliver a GOOD OR GREAT VALUE?
- How am I making it EASY for the target customer TO FIND AND PURCHASE this product, service or experience? What is my distribution strategy?
- What am I doing to create an EMOTIONAL CONNECTION between my product/service/brand and its target customer?
- What am I doing to encourage CUSTOMER LOYALTY and BRAND ADVOCACY?
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