4S's of Marketing

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The 4S's of Marketing is an update in thinking that focuses on the importance of service dominant logic, social interaction, superior knowledge and sales engagement in business today. Let;'s put the S back into marketing.

4S's of Marketing

  1. 1. The 4 S’s of Marketing Conceptual Framework
  2. 2. Introduction • The 4P’s of marketing have been the core of marketing and built on since 1957. • Are they appropriate to fully explain the current 21st century marketing. • No – the world has changed Rapid globalisation Internet / Social revolution Greater customisation Move to one to one communication with customers via social media.
  3. 3. The 4 S’s 1. Service Dominant 2. Social Interaction 3. Sales Engagement 4. Superior Knowledge
  4. 4. The 4 S’s of Marketing
  5. 5. Service Dominant • A realisation that Goods (Product) service logic (GSL) is being enhanced by a Service dominant logic (SDL) • That service elements of a product offering are far greater and more profitable than the product elements example: Apple® iPod + Apple® iTunes = Apples SDL offering.Source: Vargo and Lusch (2004) Evolving a New Dominant Logic of Marketing,Journal of Marketing, Volume: 68, Page 1-17
  6. 6. Social Interaction Environment Market structure Dynamism Internationalisation Channel position Social system Atmosphere Power/dependence Co-operation Closeness Expectations Organization Organization Technology Long term relationships Technology Structure Institutionalisation, Adaptations Structure Strategy Strategy Interaction Process Individual Individual Aims Aims Experience Short term exchange episodes Experience Skills Products/services Skills Information Financial SocialSource: Adapted with permission from Håkansson (1982, p24)
  7. 7. Sales Engagement • Sales are the connector and sculptor of business relationships • That offline and online gaining and retention of customers is crucial • Need to identify new market segments of Blue Ocean are importantSource: W. Chan Kim and Renee Mauborgne (2004) Blue Ocean Strategy,Harvard Business Review, October 2004, Page 69
  8. 8. Superior Knowledge • Knowledge is the defining competitive advantage today for sales and marketing professionals • It encompasses – Critical thinking – Brainstorming – Creativity – Calculated risk taking – Entrepreneurship
  9. 9. The Social Marketing Mix • The 4S’s enable a more contemporary look at business marketing today. • Embedded is service dominant logic, co-creation and relationship interaction with your customer. • It is a customer centric view of sales and marketing. • The social marketing mix works together to reinforce your value proposition and grow your business.
  10. 10. You are welcome to contact Nigel Bairstow at B2BWhiteboard your source of B2B Asia / Pacificmarketing advicehttp://www.linkedin.com/pub/nigel-bairstow/6/41b/726http://twitter.com/#!/b2bwhiteboardhttp://b2bwhiteboard.com

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