The 4Cs marketing model was developed by
Robert F. Lauterborn in
1990. It is a modification of the 4Ps model. It is not a basic part of the
marketing mix definition, but rather an extension. Here are the components of
this marketing model:
• Consumer Wants and Needs
According to The 4Cs
marketing model developed
Robert F. Lauterborn
#1 - Cost
Price is not the only cost incurred when
purchasing a product. Cost of conscience or opportunity cost is also part of
the cost of product ownership.
#2 - Consumer Wants and Needs
A company should only sell a product that
addresses consumer demand. So, marketers and business researchers should
carefully study the consumer wants and needs.
#3 – Communication
“Promotion” is manipulative while communication is
“cooperative”. Marketers should aim to create an open dialogue with potential
clients based on their needs and wants.
#4 – Convenience
The product should be readily available to
the consumers. Marketers should strategically place the products in several
visible distribution points.
Whether you are using the 4Ps, the 7Ps,
or the 4Cs, your marketing mix plan plays a vital role. It is important to
devise a plan that balances profit, client satisfaction, brand recognition, and
product availability. It is also extremely important to consider the overall
“how” aspect that will ultimately determine your success or failure.
By understanding the basic concept of the
marketing mix and it's extensions, you will be sure to achieve financial
success whether it is your own business or whether you are assisting in your
workplace's business success.