Looking for 4ps marketing
Posted: Wed Dec 11, 2024 8:07 am
In 1960, Jerome E. McCarthy created the concept of the “marketing mix” and the mnemonic device of the 4 Ps, which pointed out that marketing was made up of 4 elements and that their combination —marketing mix— was what allowed a company’s commercial strategy to be defined. These elements were none other than price (price), product (product), promotion (promotion), and distribution (place).
Since then, the 4 Ps have been altered, new variables have been added, others have been abandoned, but the essence is the same: a search for ingredients that enable companies to fulfil their specific marketing mission: to market products and/or services to the right people, at the right time and in the right context, through the channel that the customer requests and at a price that is reasonable (if we can say that there is a reasonable price for everyone) in a sustainable and ethical environment.
In 1999, Schultz proposed a mix of 4 Rs, referring to marketing in the health sector: relevance, response, relationships and return on investment. This proposal seems to take into consideration aspects related to marketing results, rather than attributes that generate value for the client.
That same year, Goldsmith presented a proposal of 8 Ps[1], adding to McCarthy's 4 Ps the variables physical assets , procedures , people and personalization . In this classification we can gambling data indonesia phone number already see that there are elements inherent to services and that, as it could not be otherwise, aspects related to personalization, differentiation and segmentation were included in the marketing formula. It was evident that coffee for everyone and the Ford T marketing model ("A customer can have his car in the color he wants, as long as he wants it to be black", although in its first years the Ford T was available in various colors, but not in black), no longer worked in an increasingly changing and demanding market environment. And it is in this spirit of adding differentiation in marketing that other models such as Arussy's (2005) emerged, which adds premium price, preference, portion of the customer's total budget and permanence of the total relationship.
In short, we see that the marketing world is trying, in a more or less precise way, to adapt to the environment that surrounds companies, collaborators, potential clients and customers. In this way, another model emerges that aims to bring some order to current marketing, to technological marketing. This model is that of the 6 Cs:
Customers : all information related to customers and potential customers. This section includes tools related to inbound marketing , CRM implementation in the company, creation and use of DMPs and CDPs[2]. The aim is, above all, to understand a new customer (many talk about buyer personas ) in a new process ( customer journey ).
Content : Content has become increasingly important in marketing strategies and is therefore a key element to consider. It is important to note that once the content has been created, the next step is to distribute it through the different channels available to the company (owned media, earned media or paid media).
Community : interactions between customers and other customers, potential customers, companies, etc., through different channels (mainly through social networks). The AIDA model is a thing of the past, in which, after 4 phases ( attention, intention, desire and action), we were supposed to be able to convince and sell our product and/or service. Nowadays, thanks to communities and social networks, potential customers check discussion forums to see opinions, talk to other customers[3], get information on the Internet, become generators of content and ideas (an example of this is Lego Ideas), etc.
Commerce : ability to directly sell our products and/or services, taking into account new purchasing models: e-brick and mortar, brick and mortar, BOPIS (buy online, pick up in store), ROBO ( research online, buy offline ) , DOROPO (discover offline, research online, purchase offline), etc.
Collaboration : tools and actions developed to enhance collaboration in our marketing ecosystem. In this case, we are talking about the application of agile marketing techniques, collaborative tools , etc.
Core ( core ): the set of tools that, in a transversal way, help the company to achieve its marketing objectives. This transversality translates into omnichannel campaigns, real-time interactions , analytics , artificial intelligence, cross-channel analysis of massive data, hyper-personalization of communications, automation of marketing actions, etc.
This evolution of the traditional marketing mix model has occurred as a result of changes in marketing itself and the demands of a new consumer who, now more than ever, is aware of the power they have and can exert in the market.
Companies that have evolved their customer journey analysis tools have also joined this change. The marketing and sales funnel is now being replaced by the new flywheel model , which sees the sales process as a wheel that turns and iterates constantly and continuously, with a special focus on the customer, who is at the centre of the model. Price, product, distribution and promotion still exist, but they have taken on different names and formats suited to new times and circumstances. And our Ps, Cs, Rs models will continue to pursue the same objective that we pointed out at the beginning: to market products and/or services to the right people, at the right time and context, through the channel that the customer requests and at a price that is reasonable in a sustainable and ethical environment.
Since then, the 4 Ps have been altered, new variables have been added, others have been abandoned, but the essence is the same: a search for ingredients that enable companies to fulfil their specific marketing mission: to market products and/or services to the right people, at the right time and in the right context, through the channel that the customer requests and at a price that is reasonable (if we can say that there is a reasonable price for everyone) in a sustainable and ethical environment.
In 1999, Schultz proposed a mix of 4 Rs, referring to marketing in the health sector: relevance, response, relationships and return on investment. This proposal seems to take into consideration aspects related to marketing results, rather than attributes that generate value for the client.
That same year, Goldsmith presented a proposal of 8 Ps[1], adding to McCarthy's 4 Ps the variables physical assets , procedures , people and personalization . In this classification we can gambling data indonesia phone number already see that there are elements inherent to services and that, as it could not be otherwise, aspects related to personalization, differentiation and segmentation were included in the marketing formula. It was evident that coffee for everyone and the Ford T marketing model ("A customer can have his car in the color he wants, as long as he wants it to be black", although in its first years the Ford T was available in various colors, but not in black), no longer worked in an increasingly changing and demanding market environment. And it is in this spirit of adding differentiation in marketing that other models such as Arussy's (2005) emerged, which adds premium price, preference, portion of the customer's total budget and permanence of the total relationship.
In short, we see that the marketing world is trying, in a more or less precise way, to adapt to the environment that surrounds companies, collaborators, potential clients and customers. In this way, another model emerges that aims to bring some order to current marketing, to technological marketing. This model is that of the 6 Cs:
Customers : all information related to customers and potential customers. This section includes tools related to inbound marketing , CRM implementation in the company, creation and use of DMPs and CDPs[2]. The aim is, above all, to understand a new customer (many talk about buyer personas ) in a new process ( customer journey ).
Content : Content has become increasingly important in marketing strategies and is therefore a key element to consider. It is important to note that once the content has been created, the next step is to distribute it through the different channels available to the company (owned media, earned media or paid media).
Community : interactions between customers and other customers, potential customers, companies, etc., through different channels (mainly through social networks). The AIDA model is a thing of the past, in which, after 4 phases ( attention, intention, desire and action), we were supposed to be able to convince and sell our product and/or service. Nowadays, thanks to communities and social networks, potential customers check discussion forums to see opinions, talk to other customers[3], get information on the Internet, become generators of content and ideas (an example of this is Lego Ideas), etc.
Commerce : ability to directly sell our products and/or services, taking into account new purchasing models: e-brick and mortar, brick and mortar, BOPIS (buy online, pick up in store), ROBO ( research online, buy offline ) , DOROPO (discover offline, research online, purchase offline), etc.
Collaboration : tools and actions developed to enhance collaboration in our marketing ecosystem. In this case, we are talking about the application of agile marketing techniques, collaborative tools , etc.
Core ( core ): the set of tools that, in a transversal way, help the company to achieve its marketing objectives. This transversality translates into omnichannel campaigns, real-time interactions , analytics , artificial intelligence, cross-channel analysis of massive data, hyper-personalization of communications, automation of marketing actions, etc.
This evolution of the traditional marketing mix model has occurred as a result of changes in marketing itself and the demands of a new consumer who, now more than ever, is aware of the power they have and can exert in the market.
Companies that have evolved their customer journey analysis tools have also joined this change. The marketing and sales funnel is now being replaced by the new flywheel model , which sees the sales process as a wheel that turns and iterates constantly and continuously, with a special focus on the customer, who is at the centre of the model. Price, product, distribution and promotion still exist, but they have taken on different names and formats suited to new times and circumstances. And our Ps, Cs, Rs models will continue to pursue the same objective that we pointed out at the beginning: to market products and/or services to the right people, at the right time and context, through the channel that the customer requests and at a price that is reasonable in a sustainable and ethical environment.