The four variables of marketing can not only be applied to a firm trying to promote a product, service, or idea, but also an individual that is trying to promote themselves to potential employers. As we discussed in class, the four main aspects of marketing can be summarized as Product, Place, Promotion, and Price. My goal upon graduation of college is to get into to music entertainment management. So how will I apply the four Ps of marketing to my attempts at getting a job in this industry upon graduation?
The first variable of marketing is product. This describes how a firm must distinguish their product, service, or idea from the rest of the competition. In a traditional product marketing setting this would be characterstics such as the quality, size, style, or quantity of a product. In job application setting such as mine I would have to differentiate myself individually from others applying for the same position. I would site things such as my education in business management, my knowledge of music from all genres and eras, my experience managaing/booking a loacal band in my hometown, as well as other managmenet skills that i have aquired over the years.
The second P, Place (or distribution) refers to where, in terms of location and coverage, a firm will market their product. For example, Burton Snowboards Inc. probably does not spend a large portion of their marketing budget in places like Florida and Texas, but rather Colorado and Vermont. For my situation, I will look to apply for postitions in large cities, such as New York and Boston, where there are large talent agencies, lots of music venues and recording studios, and most importantly tons of undiscovered bands and other talent.
Third is Promotion. This refers to any activity used to inform the potential consumer about the organization and the products they offer. For a firm this might come in the form of T.V. and radio advertising, viral marketing and PR. In a job search setting promotion usually comes in the form of a resume or a portfolio with work experience, education, and references. Promotion is, in my opinon, the most important part of marketing both a firm and their products, as well as an individual looking for a job.
Finally, the Price aspect of marketing is, for the consumers, probably the most important aspect of marketing. In a traditional setting consumers are constantly searching for the lowest prices available. In a job setting this is perhaps a college students biggest advantage. A college student, though he may not have as much experience as other competitors, he is probably willing to work for a much lower price than the older applicants.
The four Ps of marketing for a firms product to its customers can easily be transferred to the concept of marketing yourself to employers. It is a very useful way of thinking about it.
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