Tags archives: 4-ps

Is “Buy American” in Your Strategic Marketing Plan?

Developing a good marketing strategy and turning that strategy into a marketing plan requires more than knowing your customer and assembling the four Ps (product, price, place, and promotion). An effective marketing plan also requires a thorough understanding of the external market environment including political, economic, sociocultural, and technological factors. Many marketers refer to this as a PEST Analysis. If it’s been awhile since your last analysis it’s time for […]

How Relevant is “Price” in Your Marketing Mix?

A recent article in the Wall Street Journal written by Daniel Akst (“I Once Was Chic, but Now I’m Cheap”) caught my attention. In short he explained why he had passed on buying another Mac and went with a PC. The bottom line? PRICE – end of story. In his article he articulated his thoughts on how cool is too often connected with price. And mentioned the usual companies often […]