The meaning of the 8P strategy

The meaning of the 8P strategy

There are many factors involved in the success or failure of a business. But there is one thing that entrepreneurs need to pay attention to is the marketing mix or how to do business with progress. and the popular marketing mix for entrepreneurs is called “Business Components 8 P” Today we will get to know the 8 P that are like lights that will lead to business growth.

1. Product (Product Strategy)

The first P that we will get to know is Product. Product marketing planning is important because the product must satisfy the customer whether in terms of features. All the ingredients used must be selected because if the product has inferiority points than the same product that is available in the market, it will lead customers to choose the same product that is more outstanding.

2. Price (Price stratgy)

Next is the price. In purchasing the product, what affects the purchase decision is the price in the marketing plan about the price. The operator must bring the cost and profit as a factor in the decision to issue the price. They may be priced at the same or lower price for the same product to attract customers.

3. Distribution (Place stratgy)

In terms of distribution, it is equally important because how much products will be delivered to customers, the distribution channel has two types of distribution that are prevalent today, namely direct sales to vendors. consume It is selling products directly to customers. and selling through middlemen It is the delivery of goods to middlemen who sell products. Each model will have different results.

4. Promotion (Promotion stratgy)

Promotion can be done in several ways. That is getting attention and is a popular trend following the trend of conservation of things, including Choosing a corrugated box or packaging made from natural materials Reusing used packaging through various processes and reusing by allowing customers to participate, such as redeeming or receiving discounts

5.Packaging stratgy

Good packaging is half the battle won. Notice how big and successful businesses take packaging seriously. That is because before customers can use the product, they must first look at the packaging to see if it is attractive or not. The packaging design to be beautiful, modern, easy to use is what entrepreneurs need to consider.

6. Salesperson (Personsal stratgy)

To sell products well, one of the things that help in sales would be inevitable because salespeople will reach customers directly. Especially if the salesperson has knowledge Sales expertise will make customers interested in that product and ultimately lead to the purchase.

7. News (Public stratgy)

News is a form of marketing that should not be overlooked because the news of the country or the subject matter to be discussed at that time through various channels. of the business will demonstrate accessibility and up-to-date with current events It has a positive effect on the product because it creates a positive image.

8. Power stratgy

It is high quality marketing, but in practice it is difficult to do, but not impossible if entrepreneurs are committed to creating it. Because power is the power to obtain various bargaining rights that are beneficial to the business.

In order to build a stable and successful business, it takes entrepreneurial time and patience, but something that must be taken into account along with the 8 P marketing mix mentioned above. If entrepreneurs can create 8 P to their full potential, there will be success in selling products for sure.

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