Location

Location is a part of a company’s Marketing Mix. Because not every business has a physical retail location, this element of the marketing mix is often designated as the “Place” and not only covers location, but also everything involved in getting the product to the customer. The “Place” is part of the 4 P’s of the Marketing Mix.

Whether you are thinking of setting up, starting or expanding your business or selling any product or service, these four elements should be top-of-mind all the time:

  1. THE PRODUCT
  2. THE PRICE
  3. THE PLACE
  4. THE PROMOTION

In recent years, there have been attempts to develop a package (mix) that will not only satisfy the needs of the customer, but simultaneously maximize the performance of the organization. This model suggests the expansion of the marketing mix to 5Ps to include People or Personnel.

Many marketing specialists are now seeing the 4Ps as too product-oriented and have adopted the 4Cs marketing mix. This model looks at the marketing from the customer’s point of view.

  1. Place becomes Convenience
  2. Price becomes Cost to the user
  3. Promotion becomes Communication
  4. Product becomes Customer needs and wants

These C’s reflect a more client-oriented marketing philosophy. The 4Cs explicitly require you to think like a customer.

You can read the whole Marketing Mix – The 4Ps and the 4Cs article at: http://extension.umd.edu/agmarketing/marketing-101/marketing-mix-4ps-and-4cs

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