29 March 2014

4 c's of marketing

4 C’s of marketing

Created in 1993 by Robert Lauterborn, the Four C’s is an updated classification system of the Four P’s. His model shifts the focus from the producer to the consumer and is a better blueprint to follow for smaller businesses that are marketing to a niche audience.

Consumer replaces product:
Rather than pre-defining the customer into a product, the consumer model puts the impetus on satisfying the customer’s needs.  The Consumer model should be seen as a conversation between the customer and the business, which come together to create a custom product that satisfies a customer’s needs.

Cost replaces price:
The price is only one factor in acquiring customers. Cost reflects the cost of using the product, which can include inconveniences (changing from one computer software to another) and customer ethics (such as choosing between organic and non-organic eggs).
Convenience replaces place:
Convenience (whether geographical or through search engines) influences the perceived value of a product. The ease in which a consumer can purchase a product is crucial in deciding what business acquires customers.
Communication replaces promotion:
Communication views the promotional process as lateral, involving conversation between the customer and business. This is in contrast to the traditional mode of promotions, which is vertical and involves one-way communication. Communication is as much about listening as it is about talking

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