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4 Ps of Marketing – time for a rewrite
Blur Marketing | May 29, 2012
As marketers we’ve all at some point learnt those 4 Ps – Product, Price, Place and Promotion – to drive our marketing efforts. But let’s be truthful, they’re great when we’re starting a new product process, or when we’re in detailed planning and strategy mode. How relevant are they to today’s digital world where agility is key and Performance is everything – and where programs happen constantly, new products less frequently?
Here’s our take on the new 4Ps – they’re more Pertinent, Practical and Pragmatic.
Purpose: For so many businesses their product is no longer a product. It’s a service; it’s a digital delivery; it’s enhancing a customer’s capability. Focus on the purpose of what you’re going to deliver and develop from there. Your proposition should be derived from this.
Presence: You have to decide where you’re going to be. Are you a digital company, a social company, above or below the line or a mix of all channels. Once you’ve decided you have to be wholehearted: make every dollar count and be accountable. Placement is only part of the story: maximizing your presence is everything.
Pivot: Although it’s been the domain of the early-stage business needing to make a prompt about turn, pivot is part of marketing. There’s a need to be more agile and address, almost instantaneously, the rapidly changing needs of your audience. Factor in how you can change direction in a positive way as you plan and embrace a shorter-term, project-oriented approach to your marketing.
Personalization: With customers more concerned about convenience than brand loyalty, the way that you’ll ensure they do stay close to you is to stay close to them. Develop content that’s relevant to them at an individual level, outline the purpose in a personal way and engage with them as individuals, even if you have a b2b proposition. This is the crux of social media - without it, you’ll just be broadcasting noise.
Part of our purpose at blur Marketing is another P – the Project concept. Think in terms of discrete projects to deliver against your marketing objectives, rather than the behemoth campaign. If you’re keen to find marketing experts from around the world to help implement your plans and make sure your marketing is right on track, then why not brief your project now?
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