How To:, The 7 P's of Marketing

The Big ‘why’ in Marketing (and Its Importance)

Marketing is a huge discipline that spans more than just the marketing team and is often one of the most misunderstood activities in any business.

Most people consider marketing to be the tip of the iceberg that is poking its head above the water that the customers see  (those in yellow), however in order for these element to generate any positive momentum we need to consider everything else hidden from view below the water.  This is the work a business needs to do to ensure that their marketing works – i.e. in layman’s terms more people buy more of their stuff and make the business bigger profits!

What does this mean?

This leads onto The BIG WHY.  For organisations to succeed they really need to ask some fundamental questions, such as:

  • Why would a buyer buy from me (as opposed to the alternatives that are out there)?
  • Why should a potential buyer trust you? Everyone is a sceptic, just because your website says you have values of honesty and integrity, why would they believe it?

marketing: Keeping it simple

One of my favourite approaches for answering the above ‘Whys’ and helping to flesh out marketing strategy that can be applied to practical day-to-day marketing activity is by using a matrix approach to 3Cs and 4Ps.

These are the classic 3 ‘Cs’ of Customer, Competitor and Company and the standard Ps of marketing. However, by combining them into a matrix instead of using the theory in isolation we get a really useful and practical way to ‘force’ thinking about The Big Why.

So, when I think about the products and services I might offer to fulfil my ‘purpose’ I approach it in this way:

Customer: What do they want? 

  • What is the problem they are trying to solve or what is the benefit they desire?
  • What do they value in this type of product or service?
  • Etc…

Competitor: What do they provide? 

  • What existing options are out there already to provide the customer benefit?
  • How well do the competitor offers satisfy the customer need?
  • Do the competitor offers provide any benefits that I cannot?
  • Etc…

Company: What can I provide? 

  • How well will my product or service satisfy the customer need?
  • Does my product or service have any benefit or value that is unique?
  • Etc…

By looking at all the marketing ‘P’s in this way against each of the 3 ‘C’s it helps get a really good picture of where we are positioned in the market place and leads to a better understanding of the what, where, who & how when it comes to communicating with the target market.

The matrix above shows the approach – the answers for each box can be as simple or complex as your business demands.

Online Course

STRATEGIC MARKETING MASTERY: YOUR PLAN FOR PROFITABLE GROWTH

Learn More

SHARE ON:

Dave Iles

Marketing consultant Dave has over 25 years experience in strategic marketing, covering branding, communications, product development and launch, international marketing and market intelligence. Dave is an experienced and respected consultant able to offer significant strategic management experience with a passion for marketing strategy and a keen eye for detail.

Request a call back

SMALL BUSINESS MARKETING IDEAS

UPDATED FOR 2024!

50 Top Marketing Download

Download the free eBook today!

THE A-Z OF MARKETING

A complete guide that simplifies the wonderful world of marketing.

MAKE AN ENQUIRY