The P’s of Marketing
The question was asked of marketers throughout the globe: are the 4 P’s of marketing (product, price, place and promotion) dead?
Here are some of the answers from those marketing experts.
1. The 4P's are the DNA of marketing which is both and art and a science. Sophisticated systems and sharp analytical minds will ensure our scientific future but I am concerned that a lack of understanding of the P's is making the marketing basics a lost art.
2. I have been involved in marketing strategy for many years and put to market a variety of products and services. No matter how complex the strategy becomes (and there is no reason why it should) I always find myself reflecting on the 4P's and sometimes even 6P's. All is alive and well with the P's!!!
3. Many marketers believe that the 4Ps are alive but have become the 6Ps. They add people and politics to the marketing mix.
4. I can give you 5, 6, 7 17 or even 26 P's. The objective of a good model, a good concept is to keep it simple - not to keep adding bits that are already within its concept. Additional P's are already integrated within the basic 4 P's.
Although Success Connection Group focuses on branding and promotion, we base all of the marketing efforts for clients first of all on prospects and customers; their needs, wants and desires. Then look at market planning utilizing the 4 P’s and how they fit into the persona for customers and prospects. Sometimes other things come into the mix but for the most part the 4 P’s are still a great guide for a marketing planning mix.
