4 A’s of Business Marketing by Vijay Wankhede
4 A’s of Business Marketing is customer-centric marketing that pays heed to the 4 values that matter most to the customers- Acceptability, Affordability, Accessibility, and Awareness.
A’s of marketing are responsible for creating value for the customer(s).
It helps managers and business leaders see a business as per the perspectives of their target customers. Customers are actually market seekers, selectors, payers, and users. Acceptability, affordability, accessibility, and Awareness come into play around all these key roles of a customer life-cycle.
When worked upon, these will help companies identify their customers’ current and future needs, thereby creating good value for customers, companies, and society. These give a wide perspective about the four distinct roles they play in the market (payers, users, selectors, seekers).
It is the extent to which an offered product or service either meets or exceeds the customer’s expectations in the target market. Its two dimensions- functional acceptability and psychological acceptability here talk about the overall performance surrounding the attributes of the given product or service in marketing creating value for target audiences.
Types of Acceptability in 4 A of Marketing
a) Functional Acceptability
Functional Acceptability is “objective” in nature. Free from the subjective nature, it talks about things like facts, features, and performance.
B. Psychological Acceptability
Psychological Acceptability focus on the innate nature of a person. Subjective in nature, this feature is mostly incorporated in luxury brands that appeal to society’s higher sections.
Why Acceptability must achieve high marks in marketing?
The acceptability component of the 4A framework helps companies in channelizing customers’ acceptability, affordability, accessibility, and awareness by ensuring a product or service must meet or exceed the expectations of the target. It helps companies create value and becomes a key member of four distinct roles around which marketing channelizes.
It adheres to the customers’ ability and willingness to pay the price for a particular product or service. Sheth and Sisodia suggest two types of affordability and they are Economic and Psychological Affordability.
Types of Affordability in 4 A’s of Marketing
a) Economic Affordability
Economic Affordability focuses on the physical ability of customers to buy through sufficient economic resources at their disposal.
B. Psychological Affordability
With a major focus on the customer’s understanding of products and their value against the cost, Psychological Affordability talks about a person’s willingness to pay.
Why Affordability is important?
Affordability in marketing helps companies create value for the customers who are in quest of cost-effective products or services. It is organized around the values that serve those market seekers, selectors, payers, and users who always look for budget-friendly options.
This dimension talks about the extent and ease to which products and services are accessible to their customers. Sheth and Sisodia talk about customer availability and customer convenience sorts of availabilities in 4 a framework.
Types of Accessibility in 4 A’s of Marketing
a) Customer Availability
Availability checks whether the given company has enough stock to keep up with the demands of the market.
Convenience talks about the ease of access for a potential customer in obtaining a product or service. Human beings tend to go after the easiest option available to them.
Why Accessibility is important in marketing?
Accessible in 4A’s framework helps companies create an inclusive design, branding, and marketing that let users of all abilities fully experience the brand, or its products or services. Amongst the four distinct roles that 4 A’s play, the accessibility approach is organized around how easily a customer can get and use your product or service.
It focuses on both potential and existing customers of a particular product or service. It keeps in mind that all customers are informed enough about the benefits and features a product has to offer, persuade potential customers, and keep the trust of existing buyers. It is a crucial factor for brands since creating a positive perception in the customers’ minds is necessary for them to buy their product.
Types of Awareness in 4 A’s of Marketing
a) Product Knowledge
Product Knowledge will ensure that potential consumers have adequate knowledge about products for purchase. People have to be aware of anything, and everything that is/is on offer to go after a particular product/service.
B. Brand Awareness
Brand Awareness is the ability of consumers to recognize, recall, and remember a particular brand. Pepsi is one of the best examples here, and the brand has always focused on staying relevant in the minds of people through notable ad campaigns and logo.
Why Awareness must achieve high marks in marketing?
Awareness in the 4A's framework helps companies create a favorable recognition of a product by its name. Customer-value-perspective based on brand awareness is a key step in promoting a new product or reviving any older brand. In the cycle of customers acceptability, affordability, accessibility, and awareness, powerful branding distinguishes the product or brand from its competition is awareness. Customer-value-perspective based on awareness concept is organized around the values that ensure optimized brand presence.