4P. PRODUCT

#4PPRODUCT

It’s time to jump off the plane and start getting our hands dirty.

The subsequent 7 Ps are mainly operational, we take the strategical to the practical. Since marketing is an animal that keeps transforming all the time, reanalyze your strategies stated before and in a perennial manner.

When designing a product or service commercially define its attributes and benefits, package, ­­colors, intrinsic and extrinsic characteristics, differentiation, their evaluation, brand architecture, describe risk and success factors, delimit the possible reactions of the competition, desired positioning statements, etc.

Many companies have no influence on the design of the product, as they only distribute them. Their influence reclines on which products they’re commercializing.

Services are implicit in the #4PPRODUCT. It’s imperative to identify what are the key characteristics of services:

  • Intangibility: not being palpable, design services so that they’re perceived as tangible as possible.
  • Variability: each service is rendered differently according to who provides it. It varies on the seller or employee’s mood or the company offering the services.
  • Inseparability: services always depend on the seller’s aptitudes. The quality of the people who are involved in providing the service are often more crucial than the value of the service itself.
  • Perishability: for me, the peak feature of services, they can’t de added to inventory, so a service that isn’t sold at any given time equals money you will never be able to recover.

In politics, the product is composed of: the party (umbrella brand) candidates (products and attributes), and proposals (benefits) that they deliver. These products own their intrinsic and extrinsic characteristics, and especially their audience perception (positioning).

Candidates intrinsic characteristics: personal values, education, preparation, history, capabilities, skills, physical appearance, walking style, body language, charisma, how they relate to others, composure, especially the credibility that they emanate.

Candidate extrinsic characteristics: benefits they can provide to voters, proposals, image, brand party, and candidate brand.

To distinguish the former from the latter, intrinsic characteristics are the ones they posses and extrinsic is what they offer and how they’re perceived by the people who they are targeting and that could vote for them.

#MarketingMINT: the best way to increase sales is to accelerate your prospects decisions.

#SeeYaSoonBaboons
@jclaviles
jclaviles@mint.com.sv

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