Establishing 4 Ps for my website & examples of 4Ps in competitors websites

Marketing mix, also known as 4 P's of marketing, stands for product, place, price and promotion. To be succesfull in achiving bussiness goals, therefore, meet consumer needs, company must pay close attention to 4'Ps (Išoraitė, 2016).

I will discuss all four marketing tools individually in this post and decide which are the most relevant to my website. 

Product

Product is anything offered to the market that meets target market needs. When choosing or developing, marketers must answer numerous questions, such as, how product will be used, is it handy, how is it different from competitors and so on (Farooq, no date).

Place

Your goods/services effective placement will bring you a higher chance of success. To choose the best place, target market must be analysed. After knowing your target market, you can chose the best placement and distribution channel for your business (Farooq, no date).

Price

Cost of goods or services plays a very important element of marketing mix. It cannot be too low as in consumer mind low price is relevant to a bad quality, also, it cannot be set too high for a new business as it does not have any reputation (Farooq, no date).

Promotion 

Promotion is the way how to increase sales and attract new customers. Promotions can consist of loyalty programs, deals, prizes and so on. However, for successful promotion tactic you must think about advertising these promotions (Farooq, no date).

My website marketing mix

Although, all four elements are important, for my e-commerce project most important marketing tools are product, as there are many t-shirt shops in the UK. However, I am focusing on quality of the product. It is no see through, as it is for many brands, also, how good it feels on the skin, the quality of the print, style. All these small details what not every brand can offer. Second focus is on the price. In my shop there are "budget t-shirts” which are low priced but good quality t-shirts. Promotions, such as discount's for student's, as the young adults are my target audience, can lower the price to the minimum. I am not planning to set higher prices in the near future, but to expand brand worldwide, for that I need to have a good reputation.

4 Ps in competitor website 

One of the competitors are company called Talking T's. After observing their website I came to conclusion that their main focus is on variety of products(1). However, no promotions advertised, they do not accept orders overseas and prices are high.

(1)

Another competitor is company called "Shirt box". Their focus is placed on the product as they sell all kinds of t-shirts and hoodies. Promotions are their second marketing tool. They offer discount if customer subscribes (2), bestselling t-shirt price is cut to £10 every week (3) and they offer 50% off  from next purchase if costumer send them selfie in brand new shirt bought from them (4). My conclusion is that as prices are high for their products,  promotions play a significant role to sustain their business.

(2)

(3)

(4)

References

Farooq, U. (no date) Marketing Mix 4Ps, 7Ps and 4Cs Available at: Marketing Mix 4Ps, 7Ps and 4Cs of Marketing Mix | Marketing Tutor (Accessed: 10 February 2023)

Išoraitė, M. (2016) "Marketing mix theoretical aspects" International Journal of Research-Granthaalayah, 4(6), pp.25-37. Available at :2505-libre.pdf(d1wqtxts1xzle7.cloudfront.net) (Accessed: 10 February 2023)