Learn in the textbookBasic Frameworks of Marketing Strategy
DefinitionThe 4C framework restates the 4P from the buyer's point of view and consists of four elements: Customer Value, Cost (what the customer bears), Convenience (ease of obtaining) and Communication (two-way dialogue).
ExplanationProduct is reread as the value it offers the customer, price as the money and effort the customer spends, place as how easy the product is to obtain, and promotion as whether the company and the customer can communicate. The aim is to check the plan starting from what customers receive, not from what the company wants to sell.
AnalogyIt is the same bakery seen from the customer's side: checking, as a shopper, whether the bread tastes good, whether it is worth the price and the wait, whether it can be picked up on the way to work, and whether requests can be passed on to the shop.
Memory hookThe first C in 4C is Customer: remember that all four words are seen from the customer's side, and you will not confuse them with the seller-side 4P.