Businesses and companies implement various marketing and promotional strategies to approach their target customers and sell their products. Bob Lauterborn floated a new concept of the 4 Cs of marketing in the 1990s; it is to approach the target customer market by establishing a better relationship with them and improving the market mix. Today, we’ll discuss what are the 4 C’s of marketing; how to use them.
What are the 4 C’s of Marketing?
The 4 C’s of marketing comprises of needs and wants of consumers, cost of the product or service, convenience, and communication. They are very important and valuable to the 4 Ps of the market mix. However, their focus is not only on advertisement and sale of the company’s products and services. But it also focuses on communicating with the target customers from the start of the process to the end.
The focus of the 4 Ps of the market mix is on the sale-oriented market strategy, and it plays a significant role in the company’s sales. On the other hand, the 4 Cs is a customer-focused and customer-oriented strategy, and it focuses on building a relationship with the customers.
The 4 C’s of Marketing
The 4 C’s of the marketing mix are as follows;
Customers or Consumers
The needs and wants of customers are the first elements of the market mix. It puts emphasis on satisfying and meeting the needs and wants of customers, rather than focusing only on the product of the company. However, it is a very important marketing strategy for businesses and companies that have shown interest in understanding the target customers.
After understanding your target customers, it becomes very simple and easy for companies to produce a product that is beneficial for them. The buying decision customers make is on the value they generate from using the resource, and it is the most important part of market strategy.
Cost is the second element of the market mix. The cost of the product may seem similar to the price of 4Ps and many people confuse each other, but they’re different. However, the price is a very small part of the total cost of purchasing the product from the customer.
It is significant for the customers to know the overall cost of the product and not just the price. The cost comprises various elements like the cost of gas or petrol it takes to get to the customers, the time the product takes to reach the customer location to buy it, and the price of the product. However, the cost comprises of benefits of the product to the customers.
Convenience is the third c of the market mix; it may seem the same as the place of the 4Ps of market strategy, but they’re completely different. The place only outlines the selling point of the product, but convenience is more of a customer-focused approach.
After analyzing the habits and behavior of customers, you would know whether customers are willing to purchase your product, buy it online or visit the physical store. The cost of the product would define the convenience that the customers would get it. However, the objective of convenience is to make the product cost-effective and offer it with ease, so that they don’t have to go through a lot of hurdles.
Communication is the fourth and the most important element of the market mix. Without communication, the 4 cs of the market strategy won’t work. However, some people may confuse the communication of the 4 Cs with the 4Ps of market strategy, but they’re different.
The focus of promotion is to persuade customers to purchase the company’s products, and it can be ineffective and manipulative sometimes. On the other hand, communication is a customer-focused strategy for the sale of the product. It demands the interaction between the buyers and sellers; you can easily apply the communication market strategy on social media platforms.
Advertising on social media platforms and adding links to your profiles are very important for your customers. It allows customers to connect with your brand at a personal and intimate level and it makes them buy your product and becomes loyal customer.
How to Use 4 C’s of Marketing
You can use and implement the 4 Cs of market strategy in the following ways;
Knowing your buyers and customers mean learning about their shopping habits and purchasing behavior both in terms of online shopping and physical store shopping based on their needs and wishes. It is important to study the demographic of your target customers, so you can understand your target customer market. However, understanding your market plays a significant role in designing the strategies.
Ensuring They Contact You
Social media is a great way to talk and connect with your target customers, and know what customers are talking about your company. You can add a page on your website where customers could contact you by entering their email or simply making comments. Having a communication section is not sufficient, you have to make sure that they can contact you regularly.
Whether customers praise or criticize your company, they should know that their company values their feedback. Along with valuing their feedback, Facebook offers the option of quick response time. You have to make sure the response time of your platform is good.
You should carefully listen to the feedback and views of customers and make improvements in your offers accordingly. You should be aware of the commonly asked questions and know how to answer them.
Conclusion: What are the 4 C’s of Marketing? How to Use Them
After an in-depth study of what are the 4 C’s of marketing; how to use them; we have realized that their focus is on satisfying the needs and wants of customers. If you want to implement a customer-focused strategy, then you should keep in mind the abovementioned 4 Cs of the market mix.
Ahsan Ali Shaw is an accomplished Business Writer, Analyst, and Public Speaker. Other than that, he’s a fun loving person.