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THE
ONLINE INVENTOR –
(c)
2008 Market Launchers, Inc.
http://www.marketlaunchers.com
Editor:
Paul Niemann
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CLEVER QUOTE:
“All worthwhile men have good
thoughts, good ideas and good intentions – but precious few of them ever
translate those into action”… John Hancock Field
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“Learn the 4 P’s for your
inventions”
by Paul Niemann of MarketLaunchers.com
You must know the 4 P’s of
your invention. Or should we say, the 4 P’s of your business, because they
apply to EVERY business, and since you’re inventing, you are in business for
yourself.
The 4 P’s fit into the
marketing equation like 4 pieces of a puzzle. What exactly are the 4 P’s ?
They are the:
*
Product
*
Price
*
Place (a.k.a. distribution channel)
*
Promotion
Every product
and business must deal with them. Which one is the most important?
(continued after the break)
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MarketLaunchers.com
does 1 thing for inventors: I build web pages for you. Why is this important?
When you contact
companies about licensing or acquiring your product, you can use your web page
you to show your invention to companies when you’re unable to present it to
them in person. It serves as your “online brochure.” This way, when they ask
you to “send me something in the mail,” you can direct them straight to your
web site while you’re still on the phone with them instead. Plus, it can be
seen by companies who search the internet for new products.
MarketLaunchers
customers get FREE consultations once they
have purchased a web page from me. It’s good for as long as you own your web
page. WHAT A BARGAIN !!! Call me – I am very easy to work with. Just call or
e-mail any MarketLaunchers customer on the site.
-- Paul Niemann (217)
224-8194 niemann7@aol.com
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Which one is the
most important?
Well, that
depends on the product. For example, for a commodity like fuel (where each brand
is pretty much the same), the most important P is the Price.
For a fast food
restaurant, where each brand is essentially the same price, the important P is
either the Product or the Promotion used to sell it to you.
The 4 P’s apply to your
invention in this way:
While you probably focus
more on the Product component, it is also important to make sure that it is
Priced right in order for you, the manufacturer, the wholesaler and the retailer
to each earn enough profit from it.
The Product must be able to
fit into a Distribution Channel, which is the Place component of the 4 P’s.
The Distribution Channel can be indirect, meaning that it goes from the
manufacturer to the wholesaler and then to the retailer. Or it can be a direct
Distribution Channel, where it goes straight from the manufacturer to the
retailer.
(continued after the break)
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is Power!
The United Inventors
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If any of the 4 P’s
isn’t executed correctly, then your product is guaranteed to fail.
Unfortunately, even if you get all 4 of them right, there’s no guarantee that
it will succeed.
#
# #
Paul
Niemann runs MarketLaunchers.com, building web pages for inventors. Having your
own web page allows you to show your invention to companies when you’re unable
to present it to them in person. It serves as your “online brochure.” Plus,
it can be seen by companies who search the internet for new products.
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