Market Strategies For Small Business Discussion Week 4
Discussion: Branding, the Customer Experience, and the Four Ps
Successful businesses often go to great lengths to convey the right message or give the right impression. A restaurant or retail store may have a very particular interior design to create a specific environment for its customers. A large corporation may spend thousands of dollars on logo designs and slogans that perfectly align its vision with consumer interests. A small business may make an effort to know each of its customers on a first-name basis. All of these techniques are strategies for gaining and retaining customers.
In this Discussion, you will explore the significance of impressions, branding, and the four Ps: product, price, place, and promotion. Consider a recent experience you have had at a small business establishment, and think about the effect of the four Ps on your purchasing decisions.
By Day 3
With this experience in mind, post a cohesive and scholarly response based on your readings and research this week that addresses the following:
Which of the four Ps has the greatest effect on your personal purchasing decisions? Why?
Which of the four Ps do you think is most important for small businesses? Why?
By Day 5
Respond to two or more of your colleagues’ postings in one or more of the following ways:
Ask a probing question, substantiated with additional background information, evidence, or research.
Share an insight from having read your colleagues’ postings, synthesizing the information to provide new perspectives.
Offer and support an alternative perspective using readings from the classroom or from your own research in the Walden Library.
Validate an idea with your own experience and additional research.
Make a suggestion based on additional evidence drawn from readings or after synthesizing multiple postings.
Expand on your colleagues’ postings by providing additional insights or contrasting perspectives based on readings and evidence.
Return to this Discussion in a few days to read the responses to your initial posting. Note what you learned and/or any insights you gained as a result of your colleagues’ comments.
Submission and Grading Information