Updated: Sep 6, 2021
Nowadays, people find that the typical models are less effective on the marketing landscape. The market share has increased significantly and constantly, and hence customers are likely to feel that they care about their needs and thoughts. In1990, Lauterborn describe the abbreviation of 4Cs to interchange the old model 4Ps, including Consumer wants and needs, Cost, Convenience, and Communication. The 4Ps model focuses more on sell conversion rate, which can be extremely effective for sales, whereas the 4Cs model offers a more customer-centric marketing strategy, helping your business connect with customers intimately to bring them to return. To further explain the importance of 4C's model, let's break them down piece by piece.
1. Customers wants and needs
In the competitive market, just focusing on products may lead your business to create things your customer doesn't want or even care about. The typical example is Nokia, one of the giant technology mobile phones in the old days, producing many products but failing to satisfy customers' needs. If you take time and effort to drill down your target audiences, understand deep down as much as you can, you will be paid off. Also, keep an eye on buyer personas, which customer types respond to what you are selling.
The second C in this marketing mix is Cost. Don't confuse the Cost with Price in 4P's model. This Cost covers the price since C determines the overall expenditure to buy a product or service. For example, the overall cost will include the time customers take to get to your location and purchase what you sell or the shipping fee, which is so popular nowadays.
The third C is Convenient to buy. When the COVID-19 surging forced people to hunker down at home, the P for Place became tenuous since it meant access to the product physically. And when the digital platform has developed, businesses tend to give their customers 24/7 services, immediately appeal when customers need to grasp their sell opportunities. The concept of shopping from 8 am to 5 pm has gone. Today the action of adding to cart, cart abandonment, or purchasing can take place every time in the online world.
The last C is Communication since some people see the promotion as one-way communication that manipulates push from company to customer. Father of 4C model - Lauterborn supports that it should be a dialogue which is a two-way conversation between customers and company. When applying it to a digital platform, we can see customers interact with the company through user-generated content, such as brand advocacy campaigns. Perhaps Lauterbon's insight was an early insight into the changing nature of customer communication.
Annmarie Hanlon. 2020. 4Cs marketing model: Two models with the same acronym. Smart Insights.
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