4PS and 4es
4PS and 4es
4PS and 4es
PRODUCTS EXPERIENCE
5. Product Development
The concept is developed into a product
prototype.
This stage involves efforts for both marketing and
research departments of companies.
It may take months or years to create a product
prototype and ensure that it will pass both
technical and commercial standards.
6. Test Marketing
Once a product prototype is developed, its
marketability is tested with a particular group of
customers in a specific location.
The reactions of customers towards the product
are then gathered and analyzed. In turn, this will
help address any problem concerning the
marketability of the product before it is officially
introduced to potential customers.
7. Commercialism
After a product prototype has been tested, the
company/firm will make its final decision on
launching the product.
It can be soft launch or a full scale launch.
Soft-launch – the product will be tested with a
limited number of customers. Aside from the
marketability of the product, the usability and
features is also being tested
Involves one/two components of the 4Ps in the
marketing mix.
Involves price discounts and lower-budget
promotion schemes, like the use of flyers and
brochures.
After it, the responses of the potential customers
will be analyzed.
Commonly practiced among restaurants and food
business and food products.
Full scale launch – serves as the official launching
of the product. It involves extensive utilization of the
components of the 4Ps.
The product is sold at its official price, and it is
marketed heavily through various means, such a
posters and advertisements on television and
online.
example: MetroPlate had its soft launch in 2013
which focused on delivering food products to
customers. In this launch, they saw that customers
has insufficient time to contact for delivery.
MetroPlate then made a full-scale launch in 2014,
and has since focused on improving the quality of
its services and products for its customers.
A group of similar products offered by the same
company under the same brand. The products in
the product line may differ in their sizes, variants,
or flavors. May also differ in their specific types,
but are all under the general class.
Ex: Johnson
Its product line is of baby products like baby lotion,
baby bath, and baby shampoo products. These all
correspond to different types of products, but are
all under one general class which is infant care.
Marketing a product line attracts more customers
as they have varying preferences and needs.
Marketers must monitor the performance of each
product in the product line.
Unprofitable ones are eventually dropped from the
line to avoid losses and to protect the image of the
product’s brand.
Product Life Cycle
The period of time that a product is introduced,
sold and eventually removed from the market.
It is composed of four stages: Introduction, growth,
maturity and decline.
Introduction
the stage when a product is launched in the
market.
Marketers are expected to find ways to launch
products in the best way possible, without
incurring large cost.
Growth
The stage when the product gains acceptance in
the market, and the profits for the firm or company
start to increase.
Maturity
At this stage, the product has been in the market
for a very long period and competition has
increased.
They then improve the features of the products or
even cutting down their price.
Decline
The stage when the profits and sales continue to
decrease.
The product will be dropped, in order to avoid
incurring huge cost and low profits.
Example
Introduction
• The Apple II was introduced in 1977 at the Wet
Coast Computer Faire, in San Francisco, USA.
This was the first event where personal computers
were shown to the general public. The Apple II
was also marketed through advertisements.
During that time, one of the selling points of the
Apple II was its color monitor and graphics
features. It was one of the first computers that had
such features and was available to ordinary
consumers.
Growth
• The Apple II later experienced in a surge in sales
with the introduction of the VisiCalc in 1979. The
VisiCalc was the first ever computer spreadsheet
program, and it was only compatible with Apple II.
This convinced more customers to purchase Apple
II units. By September 1980, 130,000 Apple II
units have already been sold. During that time, the
Apple II also faced competition from products such
as TRS-80 from Tandy Corporation and the
Commodore PET from Commodore International.
Maturity
The Apple II eventually faced its toughest
competition with the introduction of the IBM
Personal Computer in 1981. Sales of Apple I and
other Apple products started to decrease as more
consumers started to take interest in the IBM
Personal Computer. In order to improve the sales
performance of the company, Apple introduced
more advanced but less expensive version of the
Apple II.
Decline
As the IBM Personal Computer became
leading competitor in the market, the sales
for the Apple II continued to steadily
decrease. Eventually, the production of
Apple II units was discontinued and Apple
began to develop and market a new
computer product known as Macintosh.
Selecting and training employees
Associating effective customer service with
employee motivation. Training must be done in
an environment that inspires employees and
satisfies needs.
Delivering high quality service. When
employees are satisfied, aware of the company’s
objectives, and knowledgeable about the needs of
customers, they will most likely to provide high
quality services.
Building a strong and loyal customer base
When customers are satisfied with a service, they
will most likely to recommend it to other people.
Eventually, the popularity of the service will
increase.
As long as the company and its employees
maintain the high quality of their service, they can
build a loyal customer base that will continually
patronize their services.