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The Four Ps matrix in our marketing strategy
In order to generate our best target market response among our products, we would like to think about how to positioning our product into each category of 4P matrix.
The 4P matrix is combined with the Product, Place, Price andPromotion. So let us list every single point to help us to improve.
1. Product:
What features does our product have to meet our customer’s need?
What benefit can people get from our products?
What features does our product have to help customers to solve problems?
What competitive advantage do we have to outweigh our competitors?
Our main products are event/wedding indoor and outdoor table and chairs; it is a good decoration and required equipment for people to organize a good party or meeting. Most of our unique shaped chairs can provide a cozy and comfort feeling for the clients in both emotionally and physically. As we are manufacture of our products, we can guarantee high quality of our products and provide the lowest cost at the same time. We are qualified with many certifications such as FSC, SGS, TUV.etc.
2. Place:
Where can we find our potential buyers who are looking for our products?
Shall we directly communicate with our customers or use a distributor?
Where are our target markets? Big super markets? Grocery store? Wholesale store? Or local distributor?
We took part in Furniture China, Canton Fair every single year; meanwhile, we contact with our clients through all types of social media, such as Skype, WhatsApp, Tencent, Twitter, Facebook, Alibaba, and official website. We welcome all types of customer, no matter in retail sales, or Wholesales. Local distributors are our mainly cooperate partners in foreign countries. If you operate business in event planning and wedding planning, just give us a call. It do not matter you are super markets, grocery store or wholesale store. We guarantee you the lowest price with the highest product quantity.
3. Price:
What price range does your competitor set up? Is there any bottom line of the market price?
Do we have discount to our loyal customers? Is there any reward program?
What is the lowest price we can set and still maintain the profit margin?
What factor are the biggest contributors to the product’s retail price? And can we lower the cost of the part of this factor?
Due to we are the manufacture of our products, we can control the cost of producing products and ensure the lowest market price. Sometimes, customers offer lower prices than our market price. However, we will tell our customers there is a bottom line to ensure the production quality. If the price is too low, then the safety of the product cannot be guaranteed. We never offer that kind of products for good. We offer discount and update our hotsales products to our cooperate customers in the long run.
4. Promotion:
By which kind of marketing strategy we can promote our products to our potential customers?
Which is the fastest way the let them get well known about us?
Is there any timeline to promote our products?
Do we have powerful social media way to express our advertisement?
When using social media platform, when and what the specific time do we update our messages during the day. (People live in different time-zone have different working time)
We operate our own official business website along with some B2B trading platform. Online trading and face to face exhibition are our main ways to promote our product to customers.
We update info on our official website daily and our sales representative will contact you in 24 hrs once you have inquiry. Our twitter, facebook and other powerful social media platforms are operating in process. Under some special circumstance, we can video talk through WhatsApp or Skype in any time you want, 24 hours a day and 7 days a week. We aim to solve problems you have and meet your needs.
# Qingdao Welhome Group Corp
