Topic > Compare and contrast 4ps and value-based approaches to marketing

The next step is to communicate. It can be compared to promotion according to the 4Ps approach, because it involves informing the customer about the offer. The difference lies in the information provided to the customer. The 4P approach promotes and advertises the product, while the value-based approach - the value - product plus service, benefit and enjoyment that can be received with the product. Furthermore, the value-based approach involves not only telling customers how good the offering is, but also learning from them about their preferences and desires. Provide value. Finally the delivery arrives. It can be compared to place in the 4Ps approach. However, it is different because, while location simply requires having a place where the customer can purchase a product, delivering also involves making sure the customer can get the most out of the product. Therefore, it can be said that the 4Ps approach is more focused on the product, while the value approach is, on the contrary, focused on the customer: it is a more customer-oriented marketing strategy, which, in some respects, is close to the one-to-one marketing. Additionally, the value approach is more precise, helping marketers more effectively create and market all 4 types of their offerings.