It’s never been a better time to start taking our own advice and focus on the profit potential of the bird in the hand.
As marketers in the quest for new customers, we have successfully applied for decades the Four ‘P’s: product, price, promotion and place (distribution). It is our secret formula—the magic and science of marketing. We continually adjust this marketing mix, diligently focusing in on specific ‘P’s—testing, controlling and measuring what makes the needle move for our key indicators. We scrutinize graphs on foot traffic, new customers, basket size, etc. and readjust the mix accordingly. If we skillfully apply the Four ‘P’s—new customers appear. That’s the way it’s always been.
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