Talk to any marketer during the planning phase of a marketing campaign and it's likely that they will eventually say something along the lines of, "Marketing is about putting the right product, at the right price, at the right place, at the right time." This makes it critical to evaluate different locations in order to find the ideal spot to more easily attract and retain clients or patients. Your office or practice's location can have a huge impact on patient engagement.
You are probably thinking, place refers to geography. After all, realtors always say, "Location. Location. Location." You may decide that you only want to offer your services locally to minimize costs associated with transportation costs or promote your practice or organization in other regions to take advantage of customer demand. But in today's technological landscape, where your service or product appears on the internet is even more important than where it appears in the physical world.
To make decisions about place, it's of the utmost importance that you understand where customers and patients buy your type of product or service. Place is extremely important for specialty doctors or practices because each demographic and generation react more positively to advertising in different areas. Place goes hand-in-hand with promotion, you must decide whether your target market will react better to a direct sales force, internet advertising, or indirectly through distributors. Your reach in the physical world is stunted by physical space. In the online world, your reach can be global.
So far, we've looked into how important it is to price your product or service, how to promote your product or service, and now how where you place your promotions and physical location. As you've read this series it's probably becoming more obvious that the 4 P's of marketing are dependent on each other and compliment one another. In order to create a comprehensive and successful marketing campaign, each of the 4 P's need to be taken advantage of.