Consumer wants and needs (vs. Products)
You can't develop products and then try to sell them to a mass market. You have to study consumer wants and needs and then attract consumers one by one with something each one wants.

Learn more about customer wants and needs....

Cost to satisfy (vs. Price)
You have to realise that price - what you sell the product for - is only one part of the cost to satisfy. If you sell meals, for example, you have to consider the cost of driving to your restaurant - what if you provided a delivery service? Pricing is one of the most difficult decisions to make - selling at the lowest price is not always the best option. If you rely strictly on price to compete you are more vulnerable to competition.

Convenience to buy (vs. Place)
You must think of convenience to buy instead of place. You have to know how each subset of the market prefers to buy - on the Internet, from a catalogue, on the phone, using credit cards, etc. Amazon Books and Dell Computers are just a few businesses who do very well over the Internet.

Communication (vs. Promotion)
You have to consider communication instead of promotion. Promotion is manipulative - it’s a statement from the seller. Communication requires a give and take between the buyer and seller - This is much more subtle. Be creative and you can make any advertising "interactive". Use phone numbers, your web site address, etc. to help here. "Orange Wednesday" is a good example.

Developing a brand takes into account these considerations. Developing a brand is developing a promise. When you take into consideration the "4 C’s" noted above you begin the process of developing a brand!