Market strategies for small business discussion week 4
Discussion: Branding, the Customer Experience, and the Four Ps
Successful businesses often go to great lengths to convey the right message or give the right impression. A restaurant or retail store may have a very particular interior design to create a specific environment for its customers. A large corporation may spend thousands of dollars on logo designs and slogans that perfectly align its vision with consumer interests. A small business may make an effort to know each of its customers on a first-name basis. All of these techniques are strategies for gaining and retaining customers.
In this Discussion, you will explore the significance of impressions, branding, and the four Ps: product, price, place, and promotion. Consider a recent experience you have had at a small business establishment, and think about the effect of the four Ps on your purchasing decisions.
By Day 3
With this experience in mind, post a cohesive and scholarly response based on your readings and research this week that addresses the following:
- Which of the four Ps has the greatest effect on your personal purchasing decisions? Why?
- Which of the four Ps do you think is most important for small businesses? Why?
By Day 5
Respond to two or more of your colleagues’ postings in one or more of the following ways:
- Ask a probing question, substantiated with additional background information, evidence, or research.
- Share an insight from having read your colleagues’ postings, synthesizing the information to provide new perspectives.
- Offer and support an alternative perspective using readings from the classroom or from your own research in the Walden Library.
- Validate an idea with your own experience and additional research.
- Make a suggestion based on additional evidence drawn from readings or after synthesizing multiple postings.
- Expand on your colleagues’ postings by providing additional insights or contrasting perspectives based on readings and evidence.
Return to this Discussion in a few days to read the responses to your initial posting. Note what you learned and/or any insights you gained as a result of your colleagues’ comments.