Keeping in view the 4Ps of Marketing, describe a recent purchase you have made and suggest why that particular product was available at the store in which you made your purchase.
Surely you can think of this yourself.
I am buying a 35mm slide scanner today because of Price (the have dropped from 400 dollars to 80 dollars).
http://www.netmba.com/marketing/mix/
thanks, and good work, jim.
Thanks for the kind words :-)
To describe a recent purchase I have made using the 4Ps of Marketing, I will first explain what the 4Ps are:
1. Product: This refers to the actual item or service being offered. It includes the features, design, quality, and benefits of the product.
2. Price: This refers to the cost that the consumer pays for the product. It includes factors such as discounts, promotions, and perceived value.
3. Place: This refers to the location where the product is sold or distributed. It includes factors such as physical stores, online platforms, and convenience for consumers.
4. Promotion: This refers to the marketing strategies used to create awareness and stimulate demand for the product. It includes advertising, public relations, and sales promotions.
Now, pertaining to my recent purchase, I bought a new smartphone from a physical store.
Product: The particular smartphone I chose had advanced features such as a high-resolution camera, a powerful processor, and a large display. It also had positive reviews online, which influenced my decision to purchase it.
Price: The price of the smartphone was competitive compared to similar models from other brands. Additionally, the store was running a limited-time promotion, offering an additional discount on the purchase. This played a role in my decision to buy it.
Place: I chose to buy the smartphone from a physical store because I preferred to see and hold the device in person before making the purchase. The store was conveniently located near my residence, making it easy for me to visit and explore different options.
Promotion: I became aware of the availability of the smartphone at the store through their promotional activities. They advertised the new model in local newspapers, on their website, and through email campaigns. Additionally, the store had a reputation for offering a wide range of tech products, which made me trust their selection and availability.
Therefore, the particular product - the smartphone - was available at the store I purchased from due to a combination of its attractive features, competitive pricing, convenient location, and effective promotional efforts by the store.
Look up what the 4 Ps are. Got that? OK.
Now consider something _you_ bought recently. It's likely that it'll be easier to write about something large and unusual you bought, like a pair of skis, than something small and common, like a fizzy drink, though both will work, and the common products are in many ways more interesting.
Now consider
a) why you wanted something like that. Is it something you always buy, or something new? Did your friends recommend it? Did you see it advertised?
b) why you bought _that_ one, rather than something else of the same kind, a competitor brand perhaps? Had you researched it? Did you like the look of it? Was it displayed prominently? How much price difference was there vetween things like it?
c) why the shop stocked that type, and that brand - keeping in mind that the shop wants to make a profit
d) why you bought it in _that_ shop, rather than somewhere else
Answer those questions, and relate each answer to one or more of the 4 Ps, then consider the market of the store whete you bought it - what is its focus? what is its catchment area? what kinds of people shop there? why did the owner choose to stock _that_ item? and display it _that_ way?