This is a guest article fromValue Based
The surest way for an organization to increase and sustain revenues is to attract, recruit and retain the best talent (People) that can conceive and create the right sales and marketing strategies (Promotion). Once the strategies are in place, create processes and equip team(s) to execute them (Process). Once all these are in place and operating successfully, the right culture (Presence) must exist to keep it all together.
People
Hiring the right people the first time around is critical. They’re not only the most valuable asset but, in most cases, the greatest cost. The primary cause of employee turnover today is not poor job performance, rather it is poor employee recruiting processes and selection criteria.
46% of new hires fail 19% who achieve success.
Promotion
Creating and aligning sales and marketing strategies is critical to promoting products/services.
Consider:
- Target Markets
- Competition
- Distribution Channels
- Strategic Partners
- Product-Service Positioning/Pricing
- Inbound & Outbound Marketing
- Content Marketing
- Direct & Indirect Selling
- Closed-End Analytics & Reporting
Processes
Establishing, executing and measuring "aligned" sales and marketing processes are required to achieve revenue growth.
The cost to find and embed your industry's functional best practices into your organization’s processes and culture is not cheap. It takes time, money and discipline, but it’s a small price to pay for an organization and their people to perform at a high level.
Presence
The right culture, or PRESENCE, keeps everything together. Creating and sustaining a positive culture within sales and marketing will establish an environment that people are drawn to.
The four relationship types between departments are:
- Unclear
- Clear
- Aligned
- United
At Value Based, we’re focused on maximizing the sales and marketing functions of your organization. When both departments function as one they’re more likely to achieve your revenue goals. It’s the optimization and synergy of these 4P’s within your sales and marketing departments that will make the difference. See our resources below for more information on the 4P's:
The 4P's eBook (PDF)
The 4P's Infographic
FAQs
4P's of Revenue Growth [People, Promotion, Processes & Presence]
What are the 4 Ps of marketing promotion? ›
What are the 4Ps of marketing? (Marketing mix explained) The four Ps are product, price, place, and promotion. They are an example of a “marketing mix,” or the combined tools and methodologies used by marketers to achieve their marketing objectives.
Which of the 4 Ps of marketing generate revenue? ›
The Fourth P of Marketing: Promotion
Once you've optimized the previous three Ps of marketing, it's time to promote your offer. To be clear, when I talk about promotion, I am not just talking about getting your brand out there. I am talking about generating revenue.
Why are the 4Ps of marketing important? ›
The 4Ps of marketing is a model for enhancing the components of your "marketing mix" – the way in which you take a new product or service to market. It helps you to define your marketing options in terms of price, product, promotion, and place so that your offering meets a specific customer need or demand.
What are the 4 Ps of revenue? ›
They're what we call the 4P's – People, Promotion, Process and Presence.
What are the 4 Ps operations? ›
This journey from losing money and customers to Operational Excellence is achieved by tackling every problem related to Profitability, People, Productivity and Plant. These are the 4 Ps that can be used to group improvement areas around organization, processes and technologies for every business.
What are the core 4 Ps of marketing? ›
The four Ps of marketing is a marketing concept that summarizes the four key factors of any marketing strategy. The four Ps are: product, price, place, and promotion.
What is the 4p plan? ›
The four Ps are a “marketing mix” composed of four key elements—product, price, place, and promotion—used when marketing a product or service. Typically, businesses consider the four Ps when creating marketing plans and strategies to effectively market to their target audience.
What are the four Ps of strategic planning? ›
With these management tools providing input in real time, organizations can quickly adjust course as circ*mstances present new opportunities or threats. A simple model made up of “Four Ps” can help companies create this advantage. These Ps are Perceptions, Performance, Purpose, and Process.
Which of the 4 P of marketing is most important? ›
Many consider the product to be the most important of the four Ps of marketing. That being said, even excellent products can only be successful if a business strategically deploys all vital aspects of the marketing mix, including the remaining three Ps: place, promotion and price.
“Buy one, get one free” (also called BOGOF), or “Buy two and get the third free” are commonly-used sales promotion tactics. These campaigns are useful when you want or need to sell several products at once.
How are the 4 Ps interrelated? ›
The 4Ps of Marketing Mix include Product (the offering), Price (the cost), Place (the distribution), and Promotion (the communication strategy). These aspects work together to create a holistic marketing plan.
What are the 4Ps approach? ›
The four Ps of marketing—product, price, place, promotion—are often referred to as the marketing mix. These are the key elements involved in planning and marketing a product or service, and they interact significantly with each other.
What are the 4Ps of channel strategy? ›
The 4 P's stand for product, price, place, and promotion, the four primary factors that marketers need to consider when designing a campaign strategy. A marketing strategy should: Communicate what the product will provide the customer. Demonstrate why the product's value fits its price.
What is 4Ps and its purpose? ›
The Pantawid Pamilyang Pilipino Program has two goals, first is social assistance which is to provide cash assistance to the poor to alleviate their needs (short term) and lastly it aims to break the intergenerational poverty cycle through investment in human capital , i.e. health, nutrition and education(long-term).
What are 4 steps in revenue cycle? ›
The Medical Revenue Cycle in 9 Steps
- Step 1: Pre-Registration. ...
- Step 2: Registration. ...
- Step 3: Charge Capture. ...
- Step 4: Utilization Review. ...
- Step 5: Coding. ...
- Step 6: Claim Submission. ...
- Step 7: Remittance Process. ...
- Step 8: Insurance Follow-Up.
Key Takeaways
The four Ps are product, price, place, and promotion. The concept of the four Ps has been around since the 1950s.
What are the 4 Ps of productivity? ›
The concept of the four Ps of time management is a popular approach that has been used for decades to help people manage their time effectively. The four Ps are Prioritize, Plan, Prepare, and Perform. In this blog post, we'll explore each of these Ps and how they can help you manage your time more efficiently.
What is 4 Ps in management? ›
4Ps of management: project, product, program and portfolio | #24 Getting started with project management. 4Ps of management have a lot in common – they require organizational and interpersonal skills, as well as flexibility and the ability to motivate a team.
