PRODUCT, PRICE, PROMOTION, PLACE.
PRODUCT
The product is either a tangible good or an intangible service that is seem to meet a specific customer need or demand. All products follow a logical product life cycleand it is vital for marketers to understand and plan for the various stages and their unique challenges.
Understanding the Marketing Mix Concept – 4Ps
We have a rapidly expanding team of diverse stakeholders across the university, with various needs for marketing support. We currently offer the following creative services to campus partners:
- Promotional materials
- Digital designs
- Advertising
- Social media
- Photography
- Videos
- Web
- Content
PRICE
Price covers the actual amount the end user is expected to pay for a product. How a product is priced will directly affect how it sells.
Understanding the Marketing Mix Concept – 4Ps
- There is currently no fee for creative services, although priority is given to projects that support undergraduate and graduate admissions, academic program branding and marketing, fundraising/development, Chancellor-sponsored events, and core institutional business goals.
- An auxiliary service fee of $50/hr for projects outside of defined unit scope has been successfully tested in design, content and web support but a fee structure has not been formally defined or articulated to clients who might benefit from these services when their needs fall outside of core unit objectives.
- Toolkits and self-service options have been recommended by unit reviewers and leadership, and are consistently requested by clients across campus. Some template platforms have been tested, including self-serve assets for digital signage and PowerPoint presentations with limited adoption.
PROMOTION
The marketing communication strategies and techniques all fall under the promotion heading. These may include advertising, sales promotions, special offers and public relations.
Understanding the Marketing Mix Concept – 4Ps
By harnessing robust tools already in place for communicating with campus stakeholders, the unit can articulate institutional priorities, core objectives and services. Platforms for promoting creative services include internal communication via email, a re-envisioned website for University Communications and Marketing, advertising the launch of a new project management system through digital signage, on-site presentations by integrated team members and more.
PLACE
Place or placement has to do with how the product will be provided to the customer.
Understanding the Marketing Mix Concept – 4Ps
Digital footprint upgrades will provide clients ease of access through a single-sign-on request platform. An updated web presence will articulate unit objectives and capabilities. An online toolkit will offer instant access to commonly requested, brand-aligned assets including graphic designs, photography and more. An online list of auxiliary services and vendor referrals will provide stakeholders with much needed additional resources while ensuring brand consistency.
Systems Thinking 