Wednesday, December 23, 2009
Place- Get this P right
So you have the product ready as per the target segment. now what? Get it to the right place. A P& G cant sell its FMCG category shampoo in exclusive stores and hope to gain the size and number it desires in terms of sales. A place could be a retail store, a departmental store, a convenience store, a supermarket , franchise business etc. Franchise being for services such as a food chain. companies that want a global presence adopt this model. Ex: McD, Starbucks, Hard rock cafe. Of course, quality control is the focus in this model. But, being where the target customers are is the key. Trough locational analysis is required in terms of customer presence, preference, convenience etc before choosing the place to sell one's product. Get this P right and the last P , Promotion, will be most effective.
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