What does a Christmas product have to be like for you to buy it? What do you think of the promotions offered around Christmas? Do you know how the location of a store that sells Christmas items is defined? Do you understand how the price of a Christmas product or service is defined?
All the questions asked above seem to be disconnected, right? You are wrong! There is a very close relationship between location, promotion, price and product.
Whether it's Christmas or any other type of marketing, this coordinated combination of features is called the marketing mix. Besides having this name, it is also known as the 4 Ps of Marketing : Product, Price, Place and Promotion .
Without a doubt, to begin to better understand the subject whatsapp number in philippines we will start by developing the P of Product in marketing , because without defining it correctly there is no way to address the other Ps. This is because they are all linked and work like a machine; if one fails, the tendency is for the others to fail to perform as expected.
Are you interested in this topic? Do you need to have more information about the Product in the marketing mix? Stay with us and discover extremely important details about it.
Know the marketing mix
Before explaining what a product is, you need to understand that it is just one of the components of the marketing mix. This marketing mix was created by Philip Kotler , a specialist considered the father of marketing. He included four main elements in this mix: Product, Price, Place and Promotion.
According to the author, these are the four basic components for any marketing strategy. Without them, both entrepreneurs and managers have great difficulty in developing strategies in accordance with the demands of the market, the company and the consumer.
P for Product in marketing: Main element
On this occasion, we will concentrate our time on explaining the P of Product. This element is the one that directs the offer, that is, without it there is no way to establish the others. Do you understand?
When we talk about the product element, we can also refer to a service and its characteristics. We will talk about the concept of service in a moment, but now it is important that you focus only on the Product.
Product in marketing refers to the attributes that the tangible good provided by the company offers to consumers. Some of its main characteristics are size, colors, physical appearance, etc.
But what is the importance of defining the attributes of a product well? The definition of these variables enables the product to adapt to the needs expressed by the target audience. Thus, for the product to be truly effective for the market, it is essential that its attributes are set with the market in mind . This action increases the value of the product and increases the probability that it will be accepted by the public.