Any student that start to study marketing, would need to read Philip Kotler's book.
Philip Kotler is known as the father of marketing, as such, Hippocrates is the father of medicine.
Kotler's 4ps are product, place, price, and promotion.
Without those 4, marketing does not work.
1. Product - we need a product that solves peoples problems or redefines the marketplace or better a trendsetter. Quality is also an essential component.
2. Place - we need a market for it, whether generic or niche - we need a marketplace or product that people wants to be based on the recent trend.
3. Price - we need a competitive price, not too low, not too high or what we say "Goldilocks pricing"
4. Promotion - we need to let the whole world know that we mean business based on social media so that we are visible and track our prospect via segmental marketing.
Let us discuss an example.
Say, I am selling my books.
What I need to have
1. A killer product whereby my book starts a paradigm shift.
2. A good market place such as Amazon's Kindle
3. Price should be competitive and as low as possible to make it affordable for the generic market or high price for the limited edition of my book to make it a collectible piece.
4. Promotion, I will use social media for my promotions such as Google blog, facebook, twitter, and Instagram. On top of that, I will give a lot of free gift and freebies to make my book visible.
I will also constantly saturating the marketplace to make people feel that they miss something out if they don't read my book.
Psychological marketing states that a lot of people fear to be left out in a trend due to "following the jones" mentality in the west or what should we say "kiasu and kiasi" in Singaporean laymen terms.
Hopefully, these bits of advice help, those of you, who are marketer outside.
In God we trust - thy heart, thy soul, thy life.
Yours sincerely,
DrLion.
Philip Kotler is known as the father of marketing, as such, Hippocrates is the father of medicine.
Kotler's 4ps are product, place, price, and promotion.
Without those 4, marketing does not work.
1. Product - we need a product that solves peoples problems or redefines the marketplace or better a trendsetter. Quality is also an essential component.
2. Place - we need a market for it, whether generic or niche - we need a marketplace or product that people wants to be based on the recent trend.
3. Price - we need a competitive price, not too low, not too high or what we say "Goldilocks pricing"
4. Promotion - we need to let the whole world know that we mean business based on social media so that we are visible and track our prospect via segmental marketing.
Let us discuss an example.
Say, I am selling my books.
What I need to have
1. A killer product whereby my book starts a paradigm shift.
2. A good market place such as Amazon's Kindle
3. Price should be competitive and as low as possible to make it affordable for the generic market or high price for the limited edition of my book to make it a collectible piece.
4. Promotion, I will use social media for my promotions such as Google blog, facebook, twitter, and Instagram. On top of that, I will give a lot of free gift and freebies to make my book visible.
I will also constantly saturating the marketplace to make people feel that they miss something out if they don't read my book.
Psychological marketing states that a lot of people fear to be left out in a trend due to "following the jones" mentality in the west or what should we say "kiasu and kiasi" in Singaporean laymen terms.
Hopefully, these bits of advice help, those of you, who are marketer outside.
In God we trust - thy heart, thy soul, thy life.
Yours sincerely,
DrLion.
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