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4C analysis and 4P analysis in product and service marketing
This article will introduce how to apply the famous marketing analysis methods of 4C analysis and 4P analysis to the marketing of your own products and services.
The purpose of 4C and 4P model analysis is to organize the value of our products and services into a sellers perspective and buyers perspective and link them to sales. .
You know about the 4C and 4P models. However, when you actually try to do it yourself, you may wonder which procedure to proceed with.
First, by creating a summary of the 4C and 4P analysis processes, chiasenow will come up with ideas as well as product improvements and sales promotion slogans.
What is 4C analysis and 4P analysis?
The purpose of the 4C and 4P models is to classify the goodness of products by dividing them into sellers point of view and buyers point of view.
The first 4P analysis developed was the sellers point of view.
Subsequently, 4C analysis, developed as an improved version, is a method used to develop products by building the value of a service from a buyers point of view.
1. Seller’s point of view analysis = service features
The 4P model is classified into the following elements.
- Product
- Price
- Place
- Promotion
2. Based on buyer’s point of view = consumer’s benefit
The 4C model is classified into the following elements.
- Customer Value
- Cost
- Convenience
- Communication
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Each item in the 4C and 4P models corresponds to each other as follows.
| Analysis 4P | 4C Analysis |
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The 4c and 4p analysis methods were developed to address questions such as:
- What is
- How much
- Where
- How to sell
Combining 4P and 4C analysis
Combining the 4Ps in a single marketing strategy to achieve business success is called the marketing mix.
With the Product element, businesses need to have a sound product strategy, whether it is a new product or an improved product.
In order for the product to sell at its best, the pricing strategy is also extremely important.
Cheap is not necessarily a good price (there are products; especially branded goods must be sold at a high price to enter the market). If conditions allow, businesses can also implement the strategy of skimming prices to maximize profits.
Price movements can also be a good tool for businesses to both reap maximum profits and compete best in the market.
Distribution channel is also considered an important factor determining the success of marketing. The right location and the optimal location are always sought and considered.
The Promotion is planned right before the product launch. Common promotional activities used include advertising campaigns, PR, roadshow, sponsorship…
Recently, marketing experts have continued to include many other Ps in the marketing mix strategy such as People (people), Process (process), Physical Evidence … to increase strength. for marketing activities.
However, this strategy can only bring success if the business plans and implements it from the objective perspective of customers and consumers, not from the subjective perspective of the business.
An objective perspective from customers will help businesses bring to market products that meet customer expectations, sell at prices that customers accept, distribute in places convenient for customers, and make Communicate in a way that customers like.
Therefore, marketing experts have introduced the concept of 4Cs and associated these Cs with Ps in pairs to remind marketers not to forget to consider customers as the focus when planning marketing strategies.
The pairs of PCs that are intentionally “mated” are shown below
C – Customer Solutions and P – Product
The first C - Customer Solutions is attached to the letter P - Product expressing the view that each product put on the market must be really a solution for customers.
That is, to solve a certain practical need of customers, not just a profit making solution of the business.
To do this C well, businesses are forced to research carefully to find out the true needs of customers, which solutions to properly meet this need.
C – Customer Cost and P – Price
The second C - Customer Cost attached to the letter P - Price represents the view that the price of a product should be seen as a cost that the buyer will pay.
This cost includes not only the cost of purchasing the product, but also the cost of using, operating, and disposing of the product. This cost must be commensurate with the benefits that the product brings to the buyer.
It is important to understand that benefits here include both rational and emotional benefits. Many people hesitate to buy a car not because of the high price of the product, but because the cost of using it is too high (petrol, spare parts, maintenance, parking, driver…).
In that context, fuel-efficient vehicles with cheap and easy-to-replace parts are often a good solution.
C – Convenience and P – Place
The third C - Convenience is associated with the letter P - Place, which requires the way the business distributes products to create convenience for customers.
An example of the convenience aspect of distribution can be mentioned in the ATM network of banks. Any bank that has many machines, arranged in many places, with less problems when withdrawing money, that bank will have many customers opening cards.
C – Communication and P – Promotion
The last letter C - Communication is associated with the letter P - Promotion requires communication to be interaction and two-way communication between businesses and customers.
Enterprises listen to customers thoughts and aspirations and tell to customers how the product will meet those thoughts and aspirations.
An effective communication strategy must be the result of communication and interaction between products and brands with customers to gain a deep understanding and feelings from customers about products and brands.
How to use 4C and 4P Analysis in marketing
4C analysis and 4P analysis are convenient templates, but how should they be used in marketing?
Here are three points on how to get results in sales promotion activities
1. 4C and 4P models are used when analyzing existing products and services handled by the company
Even when a new product or service is developed that meets the needs of the customer, it is possible for it to gradually deviate from the needs of the consumer due to the changing market environment over time. happen
It is not only effective for products and services that you want to focus on selling, but also effective for analyzing items that have lost sales.
2. 4C and 4P models are used when planning and developing new products and services
People with a track record in store management and sales can generate new ideas based on their own intuition and feelings.
Its important to have a sense of speed to immediately execute the project youve come up with, but you may also want to stop and objectively analyze how appealing your product or service is. .
In that case, templates like 4C analysis and 4P analysis are very useful.
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3. 4c and 4p analysis are also used for competitor analysis
Even if you analyze customers and offer compelling products and services effectively, it is not safe for your competitors to outdo it.
To continue to be successful in marketing, you will have to gain an edge not only in customer analytics but also in competition with your competitors.
It is more effective to use templates such as 4C analysis and 4P analysis, not only for both your company and customers, but also for comparison with competitors.
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Benefits of 4C and 4P analysis
Chiasenow introduced how to use templates like 4C analysis and 4P analysis and their value, what is a good method to implement individual items?
You can sort the characteristics of your products and services simply by entering your companys achievements into each section of the 4P analysis and the 4C analysis of the reordering table from seller perspective and buyers point of view.
If you try to write your own products achievements yourself, you will only get an explanation of the services features.
Of course, it is important to understand the features of the service in order to make the use of our product.
It is more important to consider the benefits to the buyer by dividing features into product, price, distribution, and sales promotion.
If you use this 4C analysis and 4P analysiss summary of service performance, you can see words that can be used as a starting phrase for advertising.
The following is an example of Cheap quick reflexology massage parlor for office workers using the summary table after 4c analysis and 4p analysis.
Cheap is a selling point that even the tagline, you cant think of as your own.
However, if you look at the results generated from the buyers perspective in the 4C analysis, you are more likely to see it as this is a personalized message.
How to do a 30-minute foot massage on the way home from work so that you leave the fatigue for tomorrow?
Its affordable, so if you save a bit, you can take it out of your monthly pocket money.
You can stop by on your way home from work and or after having dinner with your family.
Our customers always get a good laugh.
Just add a few words to the built-in 4C and 4p ethos above, and it will become a catchphrase for consumers.
When creating a tagline based on 4C analysis and 4p analysis, consider how to create a tagline for the product, process, mindset, and technique delivered by your products and services. Friend
Notes on using 4C and 4P analysis
4C analysis and 4P analysis are effective if used well, but there are a few points to keep in mind.
When conducting a 4c analysis and a 4p analysis, it is important to focus on the needs of the customer.
Items such as Price and Location in the breakdown should not only be based on company views and comparisons with other companies, but should also have a sense of how customers decide when they see a product your product…
If you repeat the 4c analysis and the 4p analysis over and over, you can get stuck in an unexpected depth and deviate from consumer sentiment.
Summary of 4c analysis and 4p analysis
Chiasenow introduced a table to organize service benefits using 4C and 4P analysis.
Building service features from the customers point of view using 4C and 4p analysis not only leads to product improvement, but can also create a catchphrase for sales promotion. row.
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