Marketing Foundations

In simple terms marketing focusses on how to get the right product in the right place at the right time at a price that generating profit to sustain a business in the long term.

This is sometimes referred to as the ‘marketing mix’ or the ‘four P’s:

• Product – what are you selling? What is the need it meets? What is unique about it? What are the features and benefits for customers? How is it supported e.g. after sales service, guarantees etc.
• Price – what is the customer prepared to pay and how does this tally with demand and profitability? Typically, we try to consider the ‘value’ of a product / service rather than its ‘price’. What are the associated benefits with your products, and what does this mean to a consumer?
• Promotion – how you communicate the value of your proposition to your audience to encourage them to buy from you. FIG can help you create a marketing strategy that connects you with your audience across multiple channels including PR, marketing campaigns, and social media through to events and exhibitions.
• Place – where does your customer buy your product? In store, online or via a distributor. This information will influence which content and promotional activities will work best for you. Where you sell your products will be hugely influenced by your target customers; a place that is easily accessible to potential buyers.

Together these elements provide a roadmap for achieving your commercial objectives.

At FIG our breadth of experience and expertise extends across all elements of the marketing mix, and we work in partnership with our clients across a range of sectors to create an approach that meets their business’s unique needs.