Ranvijay Singh If we look at the startup landscape in India, we will see that majority of startups are building their solutions leveraging the power of Internet and Technology. Was it the same way 40 years back? Answer is simply No. The marketing mix was based on producer or manufacturer oriented model.
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This model is more consumer oriented and this focus has led to a primary use in niche marketing. This does not exclude it for use in products serving a mass market however. This alternate marketing mix is made up of four key variables: But considering the marketing mix from a 4C perspective is not just an exercise in semantics.
Development of the 4C Model According to Annmarie Hanlon of Smart Insightsthere are two 4C models within the marketing domain which should not be confused with each other.
One is the 4C model for marketing communications. This was put forward by Jobber and Fahy inand is a combination of four factors: The other model relates to the marketing mix and was proposed by Lauterborn in The Lauterborn model is what we are focusing on for entrepreneurs in this article.
The idea or this model stems from an article written by Bob Lauterborn in He listed the variables he felt were necessary instead. In mass marketing, the company selling a product has a tendency to view the audience as just that — a large featureless mass — with no in depth understanding of what the customer truly wants from a product.
For niche marketing, it is necessary to access detailed market research to identify those markets which are not rife with competition but may prove to be lucrative.
This means that it becomes an absolutely vital activity for the marketer to spend time studying these consumer wants and needs in-depth.
Only this detailed understanding will allow a company to sell with accuracy what the customer will buy. At the core of any marketing effort is the product itself. This however, is just one piece of the puzzle. The product must be something that the customer finds desirable and there must be something unique about it that sets it apart from all the rest of the competition.
The most effective way to achieve this is to first find the right untapped market, and then develop the product instead of trying to fit a ready-made product into a market. Product testing, therefore, becomes a key element of both the product variable and the customer variable.
The understanding should be of what the product can give the customer both in the eyes of the manufacturer and in the eyes of the consumer. A good way to understand the difference in price and cost is given here. Price is the amount of money that a consumer will be willing to pay to acquire a good or service.
On the other hand, cost is the amount that goes into the production of a good or service. This is the sum of the value of all inputs to production such as land, labor, capital and enterprise. Within the total cost to satisfy a customer need, price becomes one of the many factors.Fur t her, the Subscribers who participate in the Offer and are chosen as Highest Scorers on the basis of achieving maximum scores in answering the questions correctly under the Offer in accordance with the Highest Scorer selection process under the Terms and Conditions of the Offer, shall be required to be the registered Subscribers of the mobile .
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