With so many new product launches failing to exist even just one year later, brands must ensure they have clear strategic intent when bringing new lines to market.
As new channels emerge the opportunities for brands multiplies, but with control over place diminishing, what can marketers do to reclaim influence over this often forgotten P?
Customers are becoming increasingly savvy about pricing tactics, but there are ways for marketers to avoid resentment. However, they come with a catch.
If marketers are to reclaim their influence over the product in the 4Ps, how do they get the best out of their relationships with design agencies?
A cornerstone of the 4Ps, has product fallen out of marketing’s control or does the level of influence depend on the scale of the brand?
Far from being an outdated concept, the 4Ps are a fundamental tool for modern marketers and if you want to turbocharge your activity – combine them.
Is now the time for marketers to grab hold of the 4Ps? Or is discussion of reclaiming price, product, place and promotion simply “navel gazing”?
Rather than opting for blanket promotions and slashing prices, marketers are advised to tap into the power of behavioural science.
Patience, open communication and human contact are crucial when navigating price changes in the B2B world, particularly in the current climate.
The effectiveness expert warns marketers to stop “neglecting” price and start thinking like economists.