Concept of the Marketing Mix 4C’S

Marketing mix 4c’s is one of the business tools you should use as an internet marketer. It’s a modern version of the 4Ps (Product, Price, Place, and Promotion).

The 4Cs (Customer/consumer value, Cost, Convenience, and Communication) enable you to think more about your customers’ interests than your own. From being business-oriented, you’ll become customer-centric.

Here are some of the best tactics pros use to enjoy the benefits of the 4Cs in marketing.

Customer/Consumer Value

Your marketing campaigns must focus on bringing value to your consumers/customers. You may want to follow these tactics to create more value for your customers/consumers:

• Address the needs and wants of your customers/consumers, and minimize the cost of your solution.
• Unify your goals of (a) generating income or making money from your business and (b) delivering high value to your customers/consumers.
• Be proactive in delivering solutions to your customers/consumers. Become their partners in writing their successes.
• Speed up your turnaround time. Increase the efficiency of the delivery of your services or products.
• Always show your appreciation to your loyal customers/consumers. One way to do this is to feature them on your social media pages.
• Listen to customer/consumer feedback. Whether the feedback is negative or positive, you can use it to improve your business.
• Apply the standard formula for creating customer/consumer value, “benefits-cost= customer value.”
• Strengthen your customer service to delight your customers. How you delight/satisfy your customers is what matters.

See: Marketing Mix

Cost

The price of a product or service is the amount you set for the item/s the customers/consumers will get from your business. This is from the business’s point of view.

Shifting to the perspective of your customers/consumers, the price becomes the cost. It represents the amount your customers/consumers will pay for your product(s) or service(s).

Cost is a major factor determining whether customers or consumers will buy or avail of the products or services. There is no standard formula for costing, but it depends largely on customers/consumers.

Cost means you need to consider how much your customers/consumers are willing to pay for the value of your offer (product or service). It also depends on the type of market you are targeting to capture.

Convenience

These days, people decide in favour of buying based on convenience. Thus, you will notice that practically all businesses have started to create their online presence.

Using the marketing mix 4c’s, convenience means making it easy, simple, and fast for your customers to avail of your product(s) or service(s). You provide them with everything they need to buy from your business.

Thus, it is important to:

• Simplify the process your customers must go through in doing business with you.
• Make your customers feel good about complying with your business process.
• Consider rewarding your customers for complying with your business process and for their loyalty to your business.
• Always seek new ways to connect with your customers/consumers and to distribute/deliver your product(s) or service(s).

Communication

The final element in marketing mix 4C’s is communication. With this marketing mix, you do not “promote” your business; you communicate value to your customers/consumers.

You give your customers/consumers meaningful content to engage them.
You do not just make your target audience aware of your business, you build rapport and relationships with them.

Whereas before, you promote your business through advertising, press releases or public relations, direct marketing, and the like, today, you engage your consumers/customers through interactive communication.

Here are some of the proven ways to benefit from interactive communication as part of marketing mix 4c’s:

• Make your communication more personal. Deliver personalized communication through your customers’ preferred media or channel.
• Take advantage of the power of search engines to reach your target market. Make your site search engine user-friendly.
• Leverage social media to connect with your customers/consumers. To do this:
• Increase the engagement of your audience and maintain your interactive communication with them.

Follow Nitin Kr Saxena

Disclaimer: The article is curated from the resources available on Google. No Copyright infringement