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Marketing

Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and selling products or services of Plowshares Theatre Company, including market research and advertising, that have value for its customers, clients, partners, and society at large.

The Four Ps

The Four Ps are the strategic importance of marketing, and customer values and satisfaction. Plus, it includes marketing planning, market research, pricing, distribution and targeting.

They are:

  • Product – Creating a marketing campaign starts with an understanding of the product itself. Who needs it, and why? What does it do that no competitor’s product can do? Perhaps it’s a new thing altogether and is so compelling in its design or function that consumers will have to have it when they see it
  • Price – Price is the amount that consumers are willing to pay for a product. Marketers must link the price to the product’s real and perceived value, while also considering supply costs, seasonal discounts, competitors’ prices, and retail markup.
  • Promotion – Promotion is communicating to consumers that they need this product and that it is priced appropriately. Promotion encompasses advertising, public relations, and the overall media strategy for introducing a product.
  • Place – Place is the consideration of where the product should be available—in brick-and-mortar stores and online—and how it will be displayed.

These are the key factors that are involved in introducing a product or service to the public. They provide a framework that companies can use to successfully market a product or service to consumers. Since the Four Ps were introduced, more Ps have been added to the mix, including people, process, and physical evidence.

Effective marketing

Effective marketing touches on a broad range of areas as opposed to fixating on one message. Doing so helps reach a wider audience, and by keeping the four Ps in mind, marketing professionals are better able to maintain focus on the things that really matter. Focusing on a mix helps organizations make strategic decisions when launching new products or revising existing products.

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