THE 4P’S IN MARKET PLACE 4
The4P’s in Marketplace
The4P’s of Marketing
Agood example for this element of marketing is the McDonald’sproduct of hamburgers and fast foods. The company seeks to markettheir products to meet and satisfy the needs of their customers, whomainly have no time to cook. The product of the company seeks tosatisfy the growing number of individuals who engage in multipleactivities, and have little or no time to prepare their own food.Hence, the McDonald’s saw the need of fast foods products andintroduced their products to cater for that part of the market. Theirproducts are specifically packaged to meet the cultural values andneeds of every segment of the market. This is the first marketing Pthat has been effectively utilized by the McDonald’s fast foodrestaurants.
Inaddition, the products available at these fast food restaurants arenormally priced according to product type and quantity. The pricesare normally reflected in the overall product composition packaged inany particular McDonald’s product. Additionally, the prices aretypically lower due to the nature of products such as they are to beconsumed in an hurried manner by the consumer. This means that theprices offered at these fast food restaurants is usually fixed and atthe convenience of the many clientele that they serve, leaving nospace for bargain.
Itis worthy to note that their products are only available at majorfast food restaurants. This indicates that the customers are wellaware the exact place to purchase their preferred choice of productsfrom McDonald’s. Typically, the McDonald’s restaurants haveeffectively utilized the third marketing p that is very essential.There are many fast food restaurants that have been established bythe McDonald’s restaurants from around the world. These fast foodrestaurants are normally located in very busy working environments inmajor cities around the world. This strategic location ensures thatcustomers are able to purchase their products amidst their hecticschedules.
TheMcDonald’s restaurants have many promotional marketing strategiesdepending on their location of function. They achieve such promotionssuch as discounts on purchase of a particular product composed of avariety of ingredients or foods at a lower price. Such a product ismeant to attract customers as purchasing the product in differentpackages becomes expensive. In addition, the company spends millionsof dollars each year to market and promote their products. Thisstrategy is an important activity that is aimed at attracting newpotential consumers as well as retaining the old loyal consumersthrough new attractive prices or new improved products that arehealthier.
Question Two: Response to Rouselle
Iconcur with you that sellers should consider the four parts ofmarketing as they seek to achieve better businesses. In my opinion,marketing is part of us. In fact, everywhere we go we see elements ofmarketing being exploited for the success of the business. It is nowinteresting to learn that these elements of all marketing functionslie within the categorizations of the 4P’s of marketing. There area variety of products that are sold at many businesses. My examplewas about restaurants typically known as fast foods. Many of theproducts available at such fast food restaurants naturally cater fora variety of needs such as for those who are vegetarian as well asfor the meat lovers. You have given good examples that opened me to abetter view of the application of the 4P’s.
Iagree with you that Apple has introduced such products such as theiPhone 6+, which has effectively utilized all the 4P’s in themarket place. This product has been innovated to respond to new andemerging customer needs and has been able to offer many consumerswith technological solutions. In my opinion, Apple has organized itsoperations so well that the 4P’s blend in well towards the successof the company. This is an excellent example that is given by yourpost given that we are currently in new and evolving technologicalage. Consumers want new technological devices that are able to offermultiple solutions in their daily lives. Your post was well thoughtof and effectively demonstrated.