Commerce
Four Ps
Four Cs
Definition
Product
Consumer wants and needs
A company will only sell what the consumer specifically wants to buy. So, marketers should study consumer wants and needs in order to attract them one by one with something he/she wants to purchase.[7][9]
Price
Cost
Price is only a part of the total cost to satisfy a want or a need. The total cost will consider for example the cost of time in acquiring a good or a service, a cost of conscience by consuming that or even a cost of guilt "for not treating the kids".[7] It reflects the total cost of ownership. Many factors affect Cost, including but not limited to the customer's cost to change or implement the new product or service and the customer's cost for not selecting a competitor's product or service[citation needed].
Promotion
Communication
While promotion is "manipulative" and from the seller, communication is "cooperative" and from the buyer[7] with the aim to create a dialogue with the potential customers based on their needs and lifestyles.[10] It represents a broader focus. Communications can include advertising, public relations, personal selling, viral advertising, and any form of communication between the organization and the consumer[citation needed].
Place
Convenience
In the era of Internet,[9] catalogs, credit cards and phones people neither need to go anyplace to satisfy a want or a need nor are limited to a few places to satisfy them. Marketers should know how the target market prefers to buy, how to be there and be ubiquitous, in order to guarantee convenience to buy.[7][10] With the rise of Internet and hybrid models of purchasing, Place is becoming less relevant. Convenience takes into account the ease of buying the product, finding the product, finding information about the product, and several other factors[citation needed].
Mcarthys defn.
The marketer E. Jerome McCarthy proposed a four Ps classification in 1960, which has since been used by marketers
Four Cs
Definition
Product
Consumer wants and needs
A company will only sell what the consumer specifically wants to buy. So, marketers should study consumer wants and needs in order to attract them one by one with something he/she wants to purchase.[7][9]
Price
Cost
Price is only a part of the total cost to satisfy a want or a need. The total cost will consider for example the cost of time in acquiring a good or a service, a cost of conscience by consuming that or even a cost of guilt "for not treating the kids".[7] It reflects the total cost of ownership. Many factors affect Cost, including but not limited to the customer's cost to change or implement the new product or service and the customer's cost for not selecting a competitor's product or service[citation needed].
Promotion
Communication
While promotion is "manipulative" and from the seller, communication is "cooperative" and from the buyer[7] with the aim to create a dialogue with the potential customers based on their needs and lifestyles.[10] It represents a broader focus. Communications can include advertising, public relations, personal selling, viral advertising, and any form of communication between the organization and the consumer[citation needed].
Place
Convenience
In the era of Internet,[9] catalogs, credit cards and phones people neither need to go anyplace to satisfy a want or a need nor are limited to a few places to satisfy them. Marketers should know how the target market prefers to buy, how to be there and be ubiquitous, in order to guarantee convenience to buy.[7][10] With the rise of Internet and hybrid models of purchasing, Place is becoming less relevant. Convenience takes into account the ease of buying the product, finding the product, finding information about the product, and several other factors[citation needed].
Mcarthys defn.
The marketer E. Jerome McCarthy proposed a four Ps classification in 1960, which has since been used by marketers