In today’s digital world, marketing has become more challenging than ever. Launching a new product with the help of advertisements and PR events is not enough because now people are smarter about what they buy and why. Today’s customers have a high level of awareness about the products they purchase and expect companies to meet their standard of transparency at all times.
To market your product effectively, you need an integrated approach that considers the various factors influencing its success. After all, launching a campaign without a plan rarely leads to the desired results. That’s why one of the most effective marketing strategies is using the 4 A model: Acceptability, Affordability, Accessibility, and Awareness.
The 4 A marketing model was developed by Professor Jagdish Sheth and Dr Rajendra Sisodia. It was developed as an addition to the 4 P model of marketing that provides a consumer perspective about the products in question.
What are the 4 A’s of marketing?
The 4 A’s of marketing refer to a customer-oriented marketing approach that focuses on four elements, which are very important for customer satisfaction. The A’s stand for;
Acceptability– The extent to which something is acceptable. For example, a product could be acceptable for most people if priced reasonably.
Affordability- An individual’s ability to purchase a specific item or service is referred to as affordability, and it is understood in terms of the economic and psychological aspects of consumers.
Accessibility- It is described as the ability to obtain or have access to products and services. For example, a product could be accessible if it is widely available in the market and easy to purchase.
Awareness – It is the extent to which people are aware of something. For example, consumers would be aware of a product if it has appeared frequently on social media or received a lot of media coverage.
Let’s delve deep into the significance of each of the 4 A’s
Acceptability is an essential factor when it comes to marketing your product. For your product to be successful, it must be accepted by consumers. Therefore, acceptance is a crucial factor to consider when creating a marketing strategy for your product. Several factors can impact the success of your product, including the quality of the product itself, the price of the product, and how easy your product is to use. There are two types of this aspect, which are:
Functional acceptability: Functional acceptability is the degree to which a product or service meets a consumer’s actual needs and is acceptable for them. These needs are essential to the person when making choices and decisions. Functional acceptability is very important because it can determine whether a product or service will likely succeed. For example, if a car has poor fuel efficiency, it would not be an acceptable product for most people.
Similarly, if a company makes products with low-quality materials that do not last long and are difficult to repair, it would not be acceptable to most people. Functional acceptability also affects the willingness of consumers to pay for products. If a product is functional but not appealing, people may not value it highly enough to pay for it. It can make companies think twice about whether they should continue making that product.
Another important concept related to functional acceptability is the perceived usefulness of products or services to consumers, which refers to how well people think the product or service meets their needs. For example, a person who regularly uses an electric toothbrush might feel more comfortable paying more for a professional-grade electric toothbrush with excellent battery life than for a cheaper model that does not last as long but works just as well.
Psychological acceptability: Psychological acceptability is the extent to which a consumer perceives that a brand, product, or service is acceptable to them. It is closely related to consumers’ perception of quality. Acceptability generally refers to an opinion on whether or not a consumer would be willing to purchase something. Psychological acceptability may also refer to whether or not consumers are comfortable expressing a positive view of a particular product.
Psychological acceptability can be affected by several factors, like a product’s form factor, size, shape, and material, which can contribute to psychological acceptance. Other factors include the brand image and perceived price. Psychological approval also depends on the situation, whether the consumer is in a social environment where the product is acceptable and useful.
Affordability means the ability to afford something with the necessary resources and money and how cost-effective a product is. There are many ways that businesses can sell their products or services, but some of the most common strategies are advertising, direct sales, and distribution. When marketing your product or service, you want to remember that the more affordable your product or service is, the better it is for your business.
Another key concept in marketing is value. Value refers to how much people are willing to pay for a particular product or service and the value it will bring to them. It can be influenced by several factors, including product quality, brand reputation, and social acceptance. It can also be affected by budget-conscious consumers who may choose lower-priced products over higher-priced options if they perceive them as offering more significant value.
Psychological affordability: Psychological affordability is the first and most important A of marketing. It refers to the idea that people are more likely to buy something if they perceive it as relatively affordable. In other words, if you price your product or service reasonably to a particular population segment, you are more likely to capture their attention.
A psychological sense of affordability can be achieved in several ways. Generally, it’s best to keep your costs low while ensuring that you provide top-quality products or services. You can also test out different pricing strategies and ensure that potential customers perceive them as reasonable.
Economic affordability: Economic affordability is essential for any business seeking to maintain a competitive advantage in an increasingly competitive market. Financial affordability encompasses interrelated elements: cost and value.
First, the cost of a product or service must be affordable to customers. If a company wants to establish a niche market position and differentiate its offering from its competitors, it must ensure its products and services are assumed to be affordable to potential customers.
Second, the value of a product or service is essential to customers. If a product or service is priced too high or doesn’t offer sufficient value in the long run, it will not generate sales.
Accessibility is the idea of making your product or service easily accessible to everyone. You want to ensure that everyone can get your product or service and have a good experience with it. It’s about being open to everyone, no matter their social background.
You can think of accessibility as two things: how easy it is for people to get to your products and how easy it is for them to use the product. If you make it easy for people to find and reach you, they are more likely to buy from you. Accessibility means different things in different contexts, but it usually means ensuring everyone has equal access to your product or service.
Customer convenience: When it comes to marketing, accessibility is vital. Convenience is the number one factor that matters for consumers today. That’s why brands need to ensure their offerings are easy to get and use – whether that means offering 24/7 customer service or making certain products widely available at stores and online.
To appeal to a broader audience, look for ways to make your offerings more accessible. For example, you can make your product more widely available by partnering with retailers or providing free shipping options. You can also encourage customers to try your products by offering samples or gift cards.
Accessibility also matters when it comes to marketing yourself. It can be challenging to reach new customers when your business is based in a small town or online, but there are ways you can make it easier for people to find you and get in touch with you. You can create an email list, post on social media, and even use mobile apps that make it easier for people to connect with you.
Customer availability: A’s of marketing is about understanding who your customers are and what motivates them to buy. The best way to understand your customer is to ask them. An excellent way to start is by asking customers what they like and dislike about the product or service you are selling and incorporating their feedback. It will give you a clear idea of their value and what may keep them from buying your services. Knowing these two things will allow you to tailor your offering to meet their needs better. For example, if they don’t like waiting, you might ensure that you have faster shipping options. You can offer both if they value convenience but also enjoy low prices. By doing so, you’ll be able to reach more customers and increase sales.
Awareness is the first step in any marketing campaign, and it’s the process of creating attention and interest in a product, service or idea.
Awareness is essential because it helps build confidence among potential customers. If people are aware of your business, they are more likely to trust and purchase from you. Awareness can be achieved in many ways. You can advertise your business online, through social media, in-person events, etc. You can also build a loyal customer base by offering great products and services at affordable prices.
Regardless of creating awareness for your business, you should always aim to improve upon it over time. It will allow you to build a strong brand identity for your organisation and increase sales over time.
Product knowledge: Product knowledge is the first step in the product development process, and it involves understanding what your customer wants and needs. Product knowledge helps companies understand customer demographics, motivations, and buying patterns, and it also helps them improve their products and services.
One way to build product knowledge is by talking to potential customers. Companies can also use surveys and other research methods to gain insight into their customers’ needs by listening to user feedback and observing sales trends.
Product knowledge is essential for a company’s growth strategy and revenue. By knowing what customers want, companies are better able to create innovative products that meet their needs while also generating revenue. Knowing what customers want can also help companies identify new ways to reach customers or increase sales of existing products and services.
Brand awareness: It is the first step in building a successful marketing campaign. It is essentially the number of people who know about your products or services. If people don’t know about your business, they can’t become your potential customers.
To build brand awareness, you should do three things: tell people about your company, tell them about your product or service, and tell them why it’s good.
The main goal of any marketing campaign is to get potential customers to notice your business and want to buy from you. To do that, you need to tell people about your business and what you sell online and offline, and you should also tell them why they should buy from you.
Most importantly, be yourself when you talk about your business. People will not trust you if your brand approach seems fake or if you try too hard to impress them with fancy wording and slick presentation.
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Significance of 4 As of marketing
The 4 As of marketing is a strategic framework that helps you increase your success. Today, the 4 As of marketing have become the standard for business and marketing strategy. Some of the benefits of the model include:
- Brand awareness is one of the most important benefits of the 4 A marketing model. If potential customers are not aware of a company’s products or services, they will not be able to purchase them. The 4 A model of Marketing helps to increase brand awareness by reaching out to potential customers through various channels, such as advertising, public relations, and social media.
- Lead generation is another crucial benefit of the 4 A marketing model. Leads are potential customers who have expressed an interest in a company’s products or services. Marketing helps to generate leads by providing potential customers with information about a company’s products or services. It can be done through various channels, such as online ads, landing pages, and email campaigns.
- The 4 A marketing model helps build brand loyalty by creating a positive association of consumers with a company’s products or services. It can be done through various channels, such as advertising, social media, and customer service.
- The 4 A model of marketing helps businesses improve customer satisfaction by understanding customer needs and desires and developing products or services that meet those needs. Market research, such as surveys and focus groups, can help gain this understanding.
- The model helps boost sales by creating demand for the products or services among potential customers. This demand can be generated through various channels, such as advertising, promotions, and pricing strategies.
- The 4 A marketing model enhances competitive advantage. Competitive advantage refers to the ability of a business to compete effectively against other businesses in its industry. The 4 A Marketing model can help companies to enhance their competitive edge by differentiating their products or services from their competitors.
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The 4 A marketing model considers the buyer-centric marketing concept, which evolved from experience and analytics within the digital marketing field and adapted to the business-to-business world. It focuses on the end-to-end process of delivering marketing strategies and engaging the target audience.
Marketing’s role is to drive awareness of the company, acquire new customers, and keep them loyal. The subsequent steps in the marketing cycle focus on building a community of brand advocates, engaging them as brand ambassadors, and then measuring and optimising engagement levels on behalf of the brand.
The 4 A marketing model is a great way to think about the marketing process, but there is much more to it. You can also think of it as the foundation for the marketing strategy.
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