By Jenna Hughes
In the healthcare supply chain industry, a successful marketing campaign can include a variety of techniques and strategies. The world of marketing is dynamic and always changing, and there isn’t a “one size fits all” way that works to promote all brands.
It can be helpful when first developing a brand’s marketing strategy to have a framework, or outline, of what a brand hopes to accomplish through marketing efforts. This allows a brand to stay on track and successfully market its product or service.
One example of a framework that can guide marketing efforts is the four “Ps” or a “marketing mix.” A marketing mix is the different campaign strategies that a brand employs to market their product or service. The “marketing mix,” or the four “Ps” include product, price, place, and promotion. Strategies can include social media marketing, email campaigns, print marketing, and much more. Read on for a breakdown of each aspect of the four “Ps” marketing framework, and how businesses can integrate it into their business plans and campaign strategies.
1. Product
Product is the goods or services that are being marketed by a brand to a specific audience. It is important for a company and its employees to have extensive knowledge and experience with the product or service in order to best represent it to customers in marketing campaigns.
2. Price
Price is how much a product or service costs. Cost is a crucial aspect of the 4 Ps, as it determines who a brand’s audience is and the amount of profit a company can make from selling it to a specific audience.
3. Place
Distributing or selling a product in a place that is easily accessible to consumers encompasses the third “P”. In the medical distribution industry especially, considering place is of utmost importance when selling products. Medical supply reps should have a thorough understanding of the needs of the hospitals or physician offices that they are working with, and how to best address those needs with certain products.
4. Promotion
Advertising a brand’s product or service is the definition of promotion. Promotion includes print advertisements, TV commercials, and content marketing such as blogs, emails, and social media.
The 4 Ps can guide a brand’s preliminary marketing strategy. If your brand could benefit from further assistance planning marketing strategies or developing content specific to the medical distribution industry, contact Scott Adams at sadams@sharemovingmedia.com to set up a brainstorming session. Share Moving Media has over 30 years of experience creating content for the medical supply chain industry and can assist your brand in developing creative healthcare marketing ideas.