Fundamentals of a Traditional Marketing Approach

Save
Newspaper ads are a longstanding traditional marketing technique.
Newspaper ads are a longstanding traditional marketing technique. (Image: Jupiterimages/Goodshoot/Getty Images)

Traditional marketing is essentially a company's way of selling a brand, product or message to a target customer base. The Internet and subsequent communication advancements such as email, text messaging and social media have given marketers a new challenge in how to communicate a message to consumers, but many fundamentals are the same. The fundamentals of traditional marketing are also sometimes referred to as the 4 Ps: product, price, promotion and place.

Product

Products are the items that marketers must sell or communicate to consumers to get people excited and aware what the company sells. A product can be a tangible item, software, service or idea. Product managers and developers work to create a product that serves a purpose for consumers and is appealing. Some considerations of the product include packaging, purpose, safety, quality, warranty and appearance. Your product must be exciting to your target audience for a successful marketing campaign.

Price

Price refers to the amount of money a person or company is willing to spend on your product. Marketers must create prices that are not too high for consumers to walk away from the purchase, and at the same time, are high enough to generate a profit margin for the business. Prices must be competitive with any other products made by competitors. You can create a number of different prices and options, including discounts, financing or renting options. The price category in traditional marketing also includes non-monetary costs to the consumer and manufacturer including time, convenience and hassle.

Promotion

Promotion is another fundamental of traditional marketing. This process entails communicating messages to your target audience about your product and enticing them to buy it. There are a number of ways to promote a product, including advertising on TV, the radio or online. Direct mail campaigns send postcards or ads right to homes or businesses, and email marketing advertises the product via email. You can also implement sales promotions such as giveaways, discounts, coupons or contests. Whichever promotion methods you choose, be sure that all messages are consistent. Messages need to be simple and clear, and too many messages or inconsistent messages will confuse the consumer and possibly reduce sales.

Place

Place entails all aspects in getting the product to the consumer. This includes places where your target customers live, shop or hang out. It also includes any manufacturers or third-party distributors you use to develop, produce and distribute your product. Warehouses, retail stores, websites and even methods of transporting the product from production facility to the customer are all aspects of place in traditional marketing.

Related Searches

References

Promoted By Zergnet

Comments

You May Also Like

Related Searches

Check It Out

Are You Really Getting A Deal From Discount Stores?

M
Is DIY in your DNA? Become part of our maker community.
Submit Your Work!