Topic > Strategic Planning: The Four Steps of Strategic Management

Product positioning is using certain product characteristics to position yourself relative to your competitor's product. With the help of this marketing activity, marketers can attract more customers by focusing on the special features of their product. The four Ps of marketing are product, price, place and promotion. The product is the physical product or service that the company sells. Price is what the company charges its customers for the product. Place is where the company makes the product available to consumers. Promotion is what the company does to promote its product and convince customers to buy it. First, the four Cs are customer solution, customer cost, convenience and communication. The four Ps basically describe the same principles as the four Ps but only from the customer's perspective. By considering the four Cs instead of the four Ps, a company can better understand the customer's vision for the product. A company will gain better insight into the customer