Question

What are the four P’s of marketing and how can they applied to marketing nursing advanced practice roles?

Answer 1

Four P's of Marketing. ... You can keep yourself marketable by applying the four “Ps” of marketing – product, promotion, price, and position – to your career.

Nursing and The Four P’s of Marketing

Self-marketing is the key to career advancement in today’s competitive job market. Whether you’re seeking a job, a promotion, a nomination, or recognition, think of your career in nursing as a business and take a business-like approach to getting ahead professionally. You can keep yourself marketable by applying the four “Ps” of marketing – product, promotion, price, and position – to your career.

Product

You are the product that you are trying to sell to the prospective buyer or employer. What are the features and benefits of your product? A feature is an attribute or characteristic, such as state licensure, certification, flexibility, enthusiasm, and previous work experience.
A benefit is the result or impact of buying a product. You must be able to describe to the prospective employer how you can make a positive impact, such as improved patient relations, better supervision of staff, or shorter patient stays.
You are the developer of the product you want to sell. What is the buyer looking for (their requirements) and what does your competition have (qualifications such as education, training, certification, experience) that you need to reach your career goal? It’s never too soon to start working on acquiring the right credentials to become more marketable and competitive. For example, you may want to attend a workshop, take a refresher course, complete a continuing education (CE) home-study program, or just conduct a library search for information about an area of interest.
Volunteering and/or serving on committees are two effective strategies for gaining additional experience you may not have obtained from your regular job. For example, to develop your presentation skills, join the staff development or patient education committee. If you want to learn about quality management, help your unit representative collect data. If you are interested in midwifery, volunteer as a birthing assistant.

Promotion

You are the primary salesperson selling or pitching the product, so you must be totally familiar with and be able to articulate what you have to offer. Can you readily describe three of your greatest strengths, citing examples, quotes from others, and/or short stories to illustrate each of them? A sales presentation requires an effective delivery that results from careful preparation: Write down short, positive answers to hypothetical interview questions, practice these responses, and rehearse by role playing an interview situation with a partner.
Tools or props are also important in an effective sales presentation. To stand out from the competition, you need an effective resume, business cards, and a professional portfolio. Next to you, your resume is the most important advertisement you have. It should immediately grab the reader’s attention, generate interest, and lead to interviews. If you don’t already have business cards, consider having them made. Then, send or hand out your cards whenever you contact or meet someone whom you want to remember you.
A professional portfolio contains documentation of your expertise and experience, such as transcripts, certificates, letters of recommendation, a list of professional references, and performance evaluations. Use your portfolio to make a positive impression when interviewing. Other sales tools include job applications, cover letters, and thank-you letters.

Price

Pricing your product means first finding out how much your services are worth in today’s marketplace. What is the current salary in your area for someone with similar experience and education? If you don’t know, go to job search sites and look through job listings that include salary information. Also, talk to people in similar positions. Then determine your desired salary range, taking care not to price yourself out of the market – too high or too low.

Position

The place or position of your product refers to its fit in the marketplace – your uniqueness, specialization, and accomplishments. If you’re planning to stay in one specialty, it’s a good idea to become an expert by specializing. But it’s not quite so easy to transfer your talents to a new field if you’ve been specialized for a long time, or if you’re a generalist without specialty experience. For example, a transition from adult acute care to subacute care is a less dramatic change than from neonatal intensive care to home health.
Promote the transferable or portable skills, knowledge, and abilities that you have developed. These core competencies are clusters of cognitive, psychomotor, and affective behaviors such as teaching, organization, communication, supervision, crisis intervention, problem solving, and patient assessment. Competencies are highly developed (and marketable) in experienced nurses regardless of their specialties. Other more specialized skills can be learned with further education and training.
A self-marketing campaign for career mobility also includes showing initiative and being visible. Try to be in the right place at the right time and keep your eyes open for opportunities to stand out, for example, by being active in a professional organization, writing for publication, presenting an inservice, or mentoring other nurses. By doing more than the expected minimum, you are adding value to your product and enhancing your marketability.