Goobers, more specifically goober peas, are what Southerners call peanuts. The word has its roots in Africa and came with the slaves to the South.
The Four Ps – Product, Price, Place and Promotion – are a standard in Marketing 101 classes. They represent very basic marketing elements. They comprise the classic marketing mix.
Playing with this concept is more serious than just having fun. Why? It all represents some serious peanuts: your money. Take a good look at your business. What is your key product? The answer may not be that simple.
Product
Take this perspective for a minute. McDonald’s doesn’t sell hamburgers – it sells quick convenience. Products represent solutions to problems. So, what is your key product?
Prices
How about your prices? Do they represent more than the value of your product which the consumer is willing to exchange for their time and money?
Your pricing also positions you in the consumer’s mind and in the marketplace at large. Are you perceived as the low-ball, expensive or great value source? Your product has to offer a solution to consumers at a price, or value exchange greater than the product’s actual value.
Place
Place is the third P. It represents wherever you do business; in a bricks and mortar location or on the internet. What’s the atmosphere like at your place of business?
Does the atmosphere or ambiance reflect the true nature of the product? Does it support the price tags on the products? Is it on par with the perceived value your customers have of your entire organization?
Promotion
The last P represents promotion. Promotion is defined as active encouragement. Does your advertising actively encourage sales?
Don’t go it alone or feel like a goober because someone is treating your marketing and advertising budget as if it were peanuts – call us today