The 4 P’s of Marketing

What is marketing ?
The definition that many marketers learn as they start out in the industry is:
" Putting the right product in the right place, at the right price, at the right time. "
These four elements are the basic components of a marketing plan and are collectively called 4 P’s of marketing.

Product
Product is the actual offering by the company to its targeted customers which also includes value added stuff. Product may be tangible (goods) or intangible (services).
While formulating the marketing strategy, product decisions include:
What to offer? Brand name, Packaging, Quality, Appearance, Functionality, Accessories, Installation, After sale services, Warranty.

Price
Price includes the pricing strategy of the company for its products. How much customer should pay for a product? Pricing strategy not only related to the profit margins but also helps in finding target customers. Pricing decision also influence the choice of marketing channels. Price decisions include:
Pricing Strategy, List Price, payment period, Discounts, Financing.
Using price as a weapon for rivals is as old as mankind. but it’s risky too. Consumers are often sensitive for price, discounts and additional offers. Another aspect of pricing is that expensive products are considered of good quality.

Place (Placement)
It not only includes the place where the product is placed, all those activities performed by the company to ensure the availability of the product tot he targeted customers. Availability of the product at the right place, at the right time and in the right quantity is crucial in placement decisions.
Placement decisions include: Placement, Distribution channels, Logistics, Inventory, Order processing, Market coverage, selection of channel members.

Promotion
Promotion includes all communication and selling activities to pursuade future prospects to buy the product. Promotion decisions include:
Advertising, Media Types, Message, Budgets, Sales promotion, Personal selling, Public relations, Direct marketing.

A business plan in 3 pages

Creating a simple business plan in three pages is a great way to concisely outline your business idea. Here’s a basic structure you can follow:

1. Executive Summary

Business Name: Your business name.
Mission Statement: A brief description of your business’s purpose.
Business Goals: Short-term and long-term objectives.
Products/Services: What you offer.
Market Opportunity: The problem your business solves and the target market.

2. Business Description

Company Overview: Details about your business, including its legal structure, location, and history.
Market Analysis: An overview of your industry, market size, and trends.
Competitive Analysis: Identify your main competitors and your business’s competitive advantage.

3. Marketing and Sales Strategy

Marketing Plan: How you plan to attract and retain customers (e.g., online marketing, social media, partnerships).
Sales Strategy: Your sales process and sales goals.

4. Operations Plan

Operational Workflow: Day-to-day operations, including suppliers, production, and delivery.
Management Team: Key team members and their roles.
Milestones: Important business milestones and timelines.

5. Financial Plan

Startup Costs: Initial funding requirements.
Revenue Model: How your business will make money.
Financial Projections: Basic financial forecasts (e.g., income statement, cash flow statement).

6. Appendix

Supporting Documents: Any additional information, such as resumes, permits, or legal documents.

This structure should help you create a clear and concise business plan

Success story 5: Miloud Chaabi, the shepherd who became a billionaire

The Moroccan billionaire Miloud Chaabi , 82 years old, is the sixth richest man in Africa with a fortune estimated at $ 3 billion, according to a list published by the U.S. magazine Forbes.
Miloud Chaabi was born in 1929 in Chiadma near Essaouira in Morocco. Very young, he began working in several areas before going to Kenitra, where he became mason. In 1948, barely 18 years old, he founded his first construction company. Through hard work, "Lhaj Miloud" climbed the ladder to get into property development in the 50's. Then he decided to go into business abroad, in Africa. In the 80s he back with more maturity and created the group Ynna Holding in 1986. Ynna Holding is now a multinational firm with a workforce of 1800 employees. From the construction and property development (New Works Company Morocco) to the tourism sector with the chain Ryad Mogador, through the industry of building materials (asbestos cement ...) or mass distribution with Aswak ASSALAM, Ynna holding, or as some like to call it, " the Empire of the shepherd ", leaves no fertile ground without exploitation.

7 Things Entrepreneurs Should Be Thankful For

" Personally I am grateful to almighty God above all "

7 Things Entrepreneurs Should Be Thankful For:

-----1. The joy of seeing a sliver of light after some dark, dark, days.

-----2. An opportunity to add value, big or small, to people's lives.

-----3. The chance to try. To fail. To try again and fail ... Then, with some luck, to flourish.

-----4. Receiving payment for value delivered. There's no feeling like it.

-----5. Not having to ask permission to try something crazy.

-----6. The freedom to try to change what's not working.

-----7. The patience and understanding of our family and friends — especially when we likely don't deserve it.

Thomas Suarez maybe the new Steve Jobs

Description: Thomas Suarez is a 6th grade student at a middle school in the South Bay of Los Angeles. When Apple released the Software Development Kit (SDK), he began to create and sell his own applications. "My parents, my friends and even the people at the Apple store all supported me," he says, "and Steve Jobs inspired me". Thomas points out that it's hard to learn how to make an app. "For soccer you could go to a soccer team ... but what if you want to make an app?" He's started a club for fellow students at school, where he shares his knowledge of programming. Thomas articulates his vision that students are a valuable new technology resource to teachers, and should be empowered to offer assistance in developing the technology curriculum and also assist in delivering the lessons.