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Domenick Celentano

The Ingredients of The Marketing Mix... the Four P's

By December 18, 2013

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Here at The Foodpreneur we get our new food clients focused early on in thinking about The Marketing Mix, also Known As: 4 P's or Four P's. Here is a brief refresher.

What is the Marketing Mix?

The marketing mix is the term used to describe the most fundamental of marketing concepts, called the 4 P's.

Product (or Service)

What are you selling? Not just the product description but the benefit the customer derives from your product. The benefits are tangible and intangible.Your product is really your Value Proposition as is best communicated through a Five Step Brand Positioning Statement.

Example of Place at Bed Bath and Beyond

(click image to see on Pinterest)

Specialty Foods at store within a store - World Market at Bed Bath and Beyond

Place

Where will you sell your product. Not just "in a store", but more specifically what type of store, what department, what category.  Food is everywhere so be on the look out for new "places" such as the store within a store World Market at Bed Bath and Beyond. Also read In-store Promotions are Critical in Gaining New Shoppers To Buy The Product.

Price

This is not only the price itself, but what value does the consumer perceive from the price. The price is not only relative to your brand, but it is also relative to the competition.

Promotion

How will you get the message out to the consumer on your features and benefits? Why will the consumer believe your message? How will you communicate? For food entrepreneurs on a budget this usually entails social media, email marketing, food product demos, in-store price promotions and point of sale signs.Your Food Packaging is the Most Important Marketing Vehicle for your brand.

Wine Duets Uses Packaging as Promotion

(click image to see on Pinterest)

Wine-Duets-Retail-Packaging

Butter Lane Cupcakes uses Twitter and Pictures as Promotion

(click image to see on Pinterest)

Butter-Lane-Cupcakes-Picture-4-cupcakes-Twitter-ReTweet-of-Brand-Fan.JPG

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