4Ps of Marketing Templates

Description
FRAMEWORK QUESTIONS❓Procedure:

1. Product: Evaluate the goods or services that the organization offers to its customers.
1.1. Product Features: List and analyze the key features of the product or service.
1.2. Product Differentiation: Identify what makes the product or service unique or superior to competitors.
1.3. Product Life Cycle: Determine the current stage of the product (introduction, growth, maturity, or decline) and plan strategies accordingly.
1.4. Branding and Packaging: Assess the effectiveness and appeal of branding elements and packaging, ensuring they resonate with the target market.

2. Price: Examine the pricing strategies and structures in place.
2.1. Cost Analysis: Determine the cost of producing or offering the product or service.
2.2. Pricing Strategy: Decide on a pricing strategy (e.g., cost-plus, value-based, penetration, skimming) based on market conditions and organizational goals.
2.3. Competitor Price Comparison: Compare the product's price with competitors and identify any gaps or opportunities.
2.4. Discounts and Promotions: Consider any special pricing offers, seasonal discounts, or promotional deals.

3. Place (Distribution): Analyze how the product or service reaches the customer.
3.1. Distribution Channels: Identify and evaluate the effectiveness of current distribution channels, such as retailers, wholesalers, online platforms, etc.
3.2. Market Coverage: Determine the market reach and areas where there might be distribution gaps.
3.3. Inventory Management: Assess the efficiency of inventory management processes to ensure timely product availability.
3.4. Transportation and Logistics: Evaluate the effectiveness and efficiency of transportation methods and logistic operations.

4. Promotion: Assess the strategies used to promote the product or service to the target audience.
4.1. Advertising: Identify the advertising channels used (e.g., TV, radio, online, print) and evaluate their effectiveness.
4.2. Public Relations: Review any PR activities, events, or media coverage and their impact on brand awareness.
4.3. Sales Promotion: List any short-term promotional techniques in use, such as coupons, contests, or buy-one-get-one offers.
4.4. Personal Selling: Assess the role and effectiveness of direct sales efforts, if applicable.