SlideShare a Scribd company logo
1 of 3
The Existing 4Ps
The original theory behind the 4Ps was based on the need for a streamlined decision-making
framework for marketing that incorporated market research, analysis and planning.
Product – The first of the Four Ps of marketing is product. A product can be either a tangible
good or an intangible service that fulfills a need or want of consumers. Whether you sell custom
pallets and wood products or provide luxury accommodations, it’s imperative that you have a
clear grasp of exactly what your product is and what makes it unique before you can
successfully market it.
Price – Once a concrete understanding of the product offering is established we can start
making some pricing decisions. Price determinations will impact profit margins, supply, demand
and marketing strategy. Similar (in concept) products and brands may need to be positioned
differently based on varying price points, while price elasticity considerations may influence our
next two Ps.
Promotion – We’ve got a product and a price now it’s time to promote it. Promotion looks at the
many ways marketing agencies disseminate relevant product information to consumers and
differentiate a particular product or service. Promotion includes elements like: advertising, public
relations, social media marketing, email marketing, search engine marketing, video marketing
and more. Each touch point must be supported by a well positioned brand to truly maximize
return on investment.
Place – Often you will hear marketers saying that marketing is about putting the right product, at
the right price, at the right place, at the right time. It’s critical then, to evaluate what the ideal
locations are to convert potential clients into actual clients. Today, even in situations where the
actual transaction doesn’t happen on the web, the initial place potential clients are engaged and
converted is online.
Traditionally, brands and their various departments (marketing teams, sales teams and research
teams) are in charge of guiding the decision-making process around the first 3Ps (Product,
Price and Place) and collaborating with marketing agencies to develop the last P (Promotion). In
the past decade, the lines have become considerably blurrier as marketing agencies adopt the
consultancy model and gain influence over the other Ps.
Modernizing the 4Ps
The 4Ps was originally concepted for a world where brands pushed their customers through the
sales funnel from awareness and consideration to purchase and brand advocacy. In 2018, good
brands use a variety of additional tactics to influence, inspire and invest in their customers’
loyalty. To put it simply, customers expect to engage directly with their favorite brands.
So what do modern brands need to think about in today’s marketing environment? They need
an updated framework that guides brands to do more than just sell products or services—
because the modern customer wants to connect with brands that know their place in the world.
The First New P: Passion
We now live in a world where brands are more than products that meet needs or wants. Great
brands are connecting themselves to their brand mission or reason to exist in powerful ways
that provide a clear understanding of their founding desire.
Passion Example—Nike Authentic Commitment
Nike sells camping products and athletic equipment, but the company also donates millions of
dollars to support conservation efforts nationwide and sends volunteers to clean up hiking trails,
clean up beaches and more. The company also launched an award-winning social campaign
known as #Justdoit, and encouraging customers to get outside and Workout.
The Second New P: Purpose
The price of a product or service rarely reflects the true value or motivation behind purchasing.
Great brands now understand that a relationship occurs with a customer far before the point of
purchase and extends long afterwards. The relationship must be constantly developed and
maintained.
Purpose Example—Starbucks’ Meaningful Rewards
Starbucks, one of the world’s largest café restaurant chains, cultivated a devoted following due
partly to the brand’s Starbucks Rewards™ program. The more times a customer visits a store,
purchases the coffee at a grocery store or uses a branded credit card, the more rewards they
receive. Members can earn free refills, attend member events and more. Dedicated customers
attain gold status, which means they earn bonuses even more often. Starbucks’ rewards
program gives buying food and beverages at Starbucks a purpose that goes beyond a mere
discount.
The Third New P: Platform
In our always-connected digital world, brands can exist entirely online or with very limited
distribution at traditional brick-and-mortar retail stores. Great brands are harnessing the power
of their online platforms to capture the attention of new and existing customers alike.
Platform Example—Casper’s Intangible Trial
Internet mattress brand, Casper, has not traditionally been sold in stores. Target recently
invested in the company, but the bulk of sales occur online as part of the company’s 100-night
risk-free trial. As part of their trial, customers are encouraged to share their trial experience via
social media. Casper has fully utilized its digital platforms to disrupt the mattress industry,
spread word-of-mouth recommendations and offer a more open, transparent purchasing
experience.
The Fourth New P: Proposition
It’s not enough to have a clear, passionate mission, motivation for purchase and a platform that
captures the attention of customers. The last element is to construct a compelling proposition or
proposal that resonates and entices customer interaction.
Proposition Example— Amul Deserving Following
9 out of 10 brands will shy out, if you ask them to take a stand on a social issue. But Amul,
famous for their topical stories, is definitely an exception. Be it any cause or issue, Amul is
always there with its opinionated version. All the creatives of Amul focus on the point of view of
the mass to address any social situation. And you will find the ever-green Amul girl in each of
their content, as if she is conveying the story from her perspective. This makes the brand
different from others.
The New 4Ps
Passion
Purpose
Platform
Proposition
Conclusion
For brands, the revised 4Ps Marketing Mix framework offers a broad way to think about how
your brand should exist, behave and fill its role in the world. The new framework can also help
you identify brand strengths and weaknesses relative to the competition.

More Related Content

What's hot

Branding in the 21st century by imran
Branding in the 21st century  by imranBranding in the 21st century  by imran
Branding in the 21st century by imran
Imran Hussain
 
AN INSIDER’S HACK TO CREATING AN INTEGRATED MARKETING COMMUNICATION (IMC) CA...
AN INSIDER’S HACK TO CREATING AN  INTEGRATED MARKETING COMMUNICATION (IMC) CA...AN INSIDER’S HACK TO CREATING AN  INTEGRATED MARKETING COMMUNICATION (IMC) CA...
AN INSIDER’S HACK TO CREATING AN INTEGRATED MARKETING COMMUNICATION (IMC) CA...
Go International Group Dotcom Sdn Bhd
 
Advertising campaign.ppt
Advertising campaign.pptAdvertising campaign.ppt
Advertising campaign.ppt
Gurjit
 
Creative that cracks the code, Sameer Agarwal, HBR Article
Creative that cracks the code, Sameer Agarwal, HBR ArticleCreative that cracks the code, Sameer Agarwal, HBR Article
Creative that cracks the code, Sameer Agarwal, HBR Article
Sameer Mathur
 
Chapter 1. marketing
Chapter 1. marketingChapter 1. marketing
Chapter 1. marketing
Jags Jagdish
 

What's hot (17)

MARKETING MANAGEMENT – DEFINITION AND CONCEPT
MARKETING MANAGEMENT – DEFINITION AND CONCEPTMARKETING MANAGEMENT – DEFINITION AND CONCEPT
MARKETING MANAGEMENT – DEFINITION AND CONCEPT
 
Creative Plan - the Basics
Creative Plan - the BasicsCreative Plan - the Basics
Creative Plan - the Basics
 
Advertising appeals
Advertising appealsAdvertising appeals
Advertising appeals
 
Branding in the 21st century by imran
Branding in the 21st century  by imranBranding in the 21st century  by imran
Branding in the 21st century by imran
 
Marketing
MarketingMarketing
Marketing
 
AN INSIDER’S HACK TO CREATING AN INTEGRATED MARKETING COMMUNICATION (IMC) CA...
AN INSIDER’S HACK TO CREATING AN  INTEGRATED MARKETING COMMUNICATION (IMC) CA...AN INSIDER’S HACK TO CREATING AN  INTEGRATED MARKETING COMMUNICATION (IMC) CA...
AN INSIDER’S HACK TO CREATING AN INTEGRATED MARKETING COMMUNICATION (IMC) CA...
 
Euro-FEM Module 4: Marketing and Branding Techniques
Euro-FEM Module 4: Marketing and Branding TechniquesEuro-FEM Module 4: Marketing and Branding Techniques
Euro-FEM Module 4: Marketing and Branding Techniques
 
Advertising campaign.ppt
Advertising campaign.pptAdvertising campaign.ppt
Advertising campaign.ppt
 
Creative that cracks the code, Sameer Agarwal, HBR Article
Creative that cracks the code, Sameer Agarwal, HBR ArticleCreative that cracks the code, Sameer Agarwal, HBR Article
Creative that cracks the code, Sameer Agarwal, HBR Article
 
Online Marketing - eCommerce - Innovation
Online Marketing - eCommerce - InnovationOnline Marketing - eCommerce - Innovation
Online Marketing - eCommerce - Innovation
 
Marketing management
Marketing managementMarketing management
Marketing management
 
Marketing Management
Marketing ManagementMarketing Management
Marketing Management
 
Chapter 1. marketing
Chapter 1. marketingChapter 1. marketing
Chapter 1. marketing
 
Green Flag | Brand Activation Team | The Branding People
Green Flag | Brand Activation Team | The Branding PeopleGreen Flag | Brand Activation Team | The Branding People
Green Flag | Brand Activation Team | The Branding People
 
52 Types of Marketing Strategies
52 Types of Marketing Strategies52 Types of Marketing Strategies
52 Types of Marketing Strategies
 
Brand Activation
Brand ActivationBrand Activation
Brand Activation
 
Managing mass communication
Managing mass communicationManaging mass communication
Managing mass communication
 

Similar to The existing and new 4 ps of marketing

Htet Htet Ei Hlaing-Marketing Assignment.docx
Htet Htet Ei Hlaing-Marketing Assignment.docxHtet Htet Ei Hlaing-Marketing Assignment.docx
Htet Htet Ei Hlaing-Marketing Assignment.docx
SanSoe2
 
Advertisement mgmt
Advertisement mgmtAdvertisement mgmt
Advertisement mgmt
rahila13
 

Similar to The existing and new 4 ps of marketing (20)

Htet Htet Ei Hlaing-Marketing Assignment.docx
Htet Htet Ei Hlaing-Marketing Assignment.docxHtet Htet Ei Hlaing-Marketing Assignment.docx
Htet Htet Ei Hlaing-Marketing Assignment.docx
 
Accenture Social Media PoV - 55m conversations in 55 days
Accenture Social Media PoV - 55m conversations in 55 days Accenture Social Media PoV - 55m conversations in 55 days
Accenture Social Media PoV - 55m conversations in 55 days
 
Navigating Modern Marketing Challenges - The Power of Community-Minded Strate...
Navigating Modern Marketing Challenges - The Power of Community-Minded Strate...Navigating Modern Marketing Challenges - The Power of Community-Minded Strate...
Navigating Modern Marketing Challenges - The Power of Community-Minded Strate...
 
MARKETING BUSINESS.pptx
MARKETING BUSINESS.pptxMARKETING BUSINESS.pptx
MARKETING BUSINESS.pptx
 
Market plan
Market planMarket plan
Market plan
 
The marketing mix
The marketing mixThe marketing mix
The marketing mix
 
Point of view
Point of viewPoint of view
Point of view
 
Marketing prsentation
Marketing prsentationMarketing prsentation
Marketing prsentation
 
brand.pdf
brand.pdfbrand.pdf
brand.pdf
 
marketing powerpoint.pptx
marketing powerpoint.pptxmarketing powerpoint.pptx
marketing powerpoint.pptx
 
marketing powerpoint.pptx
marketing powerpoint.pptxmarketing powerpoint.pptx
marketing powerpoint.pptx
 
LO1 Workbook
LO1 Workbook LO1 Workbook
LO1 Workbook
 
Advertisement mgmt
Advertisement mgmtAdvertisement mgmt
Advertisement mgmt
 
Marketing
MarketingMarketing
Marketing
 
Marketing and management
Marketing and managementMarketing and management
Marketing and management
 
Pacha kucha-for-creativity-and-effectful-marketing
Pacha kucha-for-creativity-and-effectful-marketingPacha kucha-for-creativity-and-effectful-marketing
Pacha kucha-for-creativity-and-effectful-marketing
 
Entrepreneurship - SHS - Lesson 5 - 7 P's of Business Production and Branding
Entrepreneurship - SHS - Lesson 5 - 7 P's of Business Production and BrandingEntrepreneurship - SHS - Lesson 5 - 7 P's of Business Production and Branding
Entrepreneurship - SHS - Lesson 5 - 7 P's of Business Production and Branding
 
Work book lo2g
Work book lo2gWork book lo2g
Work book lo2g
 
What are brand partnerships? What are integration, reward and awareness colla...
What are brand partnerships? What are integration, reward and awareness colla...What are brand partnerships? What are integration, reward and awareness colla...
What are brand partnerships? What are integration, reward and awareness colla...
 
Why Target Market?
Why Target Market?Why Target Market?
Why Target Market?
 

Recently uploaded

4 TRIK CARA MENGGUGURKAN JANIN ATAU ABORSI KANDUNGAN
4 TRIK CARA MENGGUGURKAN JANIN ATAU ABORSI KANDUNGAN4 TRIK CARA MENGGUGURKAN JANIN ATAU ABORSI KANDUNGAN
4 TRIK CARA MENGGUGURKAN JANIN ATAU ABORSI KANDUNGAN
Cara Menggugurkan Kandungan 087776558899
 
Top Abortion Clinic in Muscat +918761049707!!!!!!!!!!! Get Cytotec kit availa...
Top Abortion Clinic in Muscat +918761049707!!!!!!!!!!! Get Cytotec kit availa...Top Abortion Clinic in Muscat +918761049707!!!!!!!!!!! Get Cytotec kit availa...
Top Abortion Clinic in Muscat +918761049707!!!!!!!!!!! Get Cytotec kit availa...
ahmedjiabur940
 
INCOME TAXATION- CHAPTER 13-A ADDITIONAL CLAIMABLE COMPENSATION EXPENSE
INCOME TAXATION- CHAPTER 13-A ADDITIONAL CLAIMABLE COMPENSATION EXPENSEINCOME TAXATION- CHAPTER 13-A ADDITIONAL CLAIMABLE COMPENSATION EXPENSE
INCOME TAXATION- CHAPTER 13-A ADDITIONAL CLAIMABLE COMPENSATION EXPENSE
RicaAbellanosa
 
Mastering Affiliate Marketing: A Comprehensive Guide to Success
Mastering Affiliate Marketing: A Comprehensive Guide to SuccessMastering Affiliate Marketing: A Comprehensive Guide to Success
Mastering Affiliate Marketing: A Comprehensive Guide to Success
Abdulsamad Lukman
 

Recently uploaded (20)

1000 one shot Oll Jaipur Mansarovar call girls 9358660226 Escorts service in ...
1000 one shot Oll Jaipur Mansarovar call girls 9358660226 Escorts service in ...1000 one shot Oll Jaipur Mansarovar call girls 9358660226 Escorts service in ...
1000 one shot Oll Jaipur Mansarovar call girls 9358660226 Escorts service in ...
 
Passive Income System 2.0 Digital: Effortless Earnings
Passive Income System 2.0 Digital: Effortless EarningsPassive Income System 2.0 Digital: Effortless Earnings
Passive Income System 2.0 Digital: Effortless Earnings
 
The Art of sales from fictional characters.
The Art of sales from fictional characters.The Art of sales from fictional characters.
The Art of sales from fictional characters.
 
SALES-PITCH-an-introduction-to-sales.pptx
SALES-PITCH-an-introduction-to-sales.pptxSALES-PITCH-an-introduction-to-sales.pptx
SALES-PITCH-an-introduction-to-sales.pptx
 
Resumé Karina Perez | Digital Strategist
Resumé Karina Perez | Digital StrategistResumé Karina Perez | Digital Strategist
Resumé Karina Perez | Digital Strategist
 
4 TRIK CARA MENGGUGURKAN JANIN ATAU ABORSI KANDUNGAN
4 TRIK CARA MENGGUGURKAN JANIN ATAU ABORSI KANDUNGAN4 TRIK CARA MENGGUGURKAN JANIN ATAU ABORSI KANDUNGAN
4 TRIK CARA MENGGUGURKAN JANIN ATAU ABORSI KANDUNGAN
 
SEO: A Beginner's Guide to Ranking Higher
SEO: A Beginner's Guide to Ranking HigherSEO: A Beginner's Guide to Ranking Higher
SEO: A Beginner's Guide to Ranking Higher
 
Top Abortion Clinic in Muscat +918761049707!!!!!!!!!!! Get Cytotec kit availa...
Top Abortion Clinic in Muscat +918761049707!!!!!!!!!!! Get Cytotec kit availa...Top Abortion Clinic in Muscat +918761049707!!!!!!!!!!! Get Cytotec kit availa...
Top Abortion Clinic in Muscat +918761049707!!!!!!!!!!! Get Cytotec kit availa...
 
Distribution Ad Platform_ The Role of Distribution Ad Network.pdf
Distribution Ad Platform_ The Role of  Distribution Ad Network.pdfDistribution Ad Platform_ The Role of  Distribution Ad Network.pdf
Distribution Ad Platform_ The Role of Distribution Ad Network.pdf
 
Social Media Marketing Portfolio - Maharsh Benday
Social Media Marketing Portfolio - Maharsh BendaySocial Media Marketing Portfolio - Maharsh Benday
Social Media Marketing Portfolio - Maharsh Benday
 
INCOME TAXATION- CHAPTER 13-A ADDITIONAL CLAIMABLE COMPENSATION EXPENSE
INCOME TAXATION- CHAPTER 13-A ADDITIONAL CLAIMABLE COMPENSATION EXPENSEINCOME TAXATION- CHAPTER 13-A ADDITIONAL CLAIMABLE COMPENSATION EXPENSE
INCOME TAXATION- CHAPTER 13-A ADDITIONAL CLAIMABLE COMPENSATION EXPENSE
 
Discover Ardency Elite: Elevate Your Lifestyle
Discover Ardency Elite: Elevate Your LifestyleDiscover Ardency Elite: Elevate Your Lifestyle
Discover Ardency Elite: Elevate Your Lifestyle
 
Alpha Media March 2024 Buyers Guide.pptx
Alpha Media March 2024 Buyers Guide.pptxAlpha Media March 2024 Buyers Guide.pptx
Alpha Media March 2024 Buyers Guide.pptx
 
Instant Digital Issuance: An Overview With Critical First Touch Best Practices
Instant Digital Issuance: An Overview With Critical First Touch Best PracticesInstant Digital Issuance: An Overview With Critical First Touch Best Practices
Instant Digital Issuance: An Overview With Critical First Touch Best Practices
 
The Essence of Mothers Celebrating the Heart of the Family.pptx
The Essence of Mothers Celebrating the Heart of the Family.pptxThe Essence of Mothers Celebrating the Heart of the Family.pptx
The Essence of Mothers Celebrating the Heart of the Family.pptx
 
Key Social Media Marketing Trends for 2024
Key Social Media Marketing Trends for 2024Key Social Media Marketing Trends for 2024
Key Social Media Marketing Trends for 2024
 
Elevate Your Brand with Billion Broadcaster's Horizontal Lift Advertising
Elevate Your Brand with Billion Broadcaster's Horizontal Lift AdvertisingElevate Your Brand with Billion Broadcaster's Horizontal Lift Advertising
Elevate Your Brand with Billion Broadcaster's Horizontal Lift Advertising
 
VIP Call Girls Dongri WhatsApp +91-9833363713, Full Night Service
VIP Call Girls Dongri WhatsApp +91-9833363713, Full Night ServiceVIP Call Girls Dongri WhatsApp +91-9833363713, Full Night Service
VIP Call Girls Dongri WhatsApp +91-9833363713, Full Night Service
 
Micro-Choices, Max Impact Personalizing Your Journey, One Moment at a Time.pdf
Micro-Choices, Max Impact Personalizing Your Journey, One Moment at a Time.pdfMicro-Choices, Max Impact Personalizing Your Journey, One Moment at a Time.pdf
Micro-Choices, Max Impact Personalizing Your Journey, One Moment at a Time.pdf
 
Mastering Affiliate Marketing: A Comprehensive Guide to Success
Mastering Affiliate Marketing: A Comprehensive Guide to SuccessMastering Affiliate Marketing: A Comprehensive Guide to Success
Mastering Affiliate Marketing: A Comprehensive Guide to Success
 

The existing and new 4 ps of marketing

  • 1. The Existing 4Ps The original theory behind the 4Ps was based on the need for a streamlined decision-making framework for marketing that incorporated market research, analysis and planning. Product – The first of the Four Ps of marketing is product. A product can be either a tangible good or an intangible service that fulfills a need or want of consumers. Whether you sell custom pallets and wood products or provide luxury accommodations, it’s imperative that you have a clear grasp of exactly what your product is and what makes it unique before you can successfully market it. Price – Once a concrete understanding of the product offering is established we can start making some pricing decisions. Price determinations will impact profit margins, supply, demand and marketing strategy. Similar (in concept) products and brands may need to be positioned differently based on varying price points, while price elasticity considerations may influence our next two Ps. Promotion – We’ve got a product and a price now it’s time to promote it. Promotion looks at the many ways marketing agencies disseminate relevant product information to consumers and differentiate a particular product or service. Promotion includes elements like: advertising, public relations, social media marketing, email marketing, search engine marketing, video marketing and more. Each touch point must be supported by a well positioned brand to truly maximize return on investment. Place – Often you will hear marketers saying that marketing is about putting the right product, at the right price, at the right place, at the right time. It’s critical then, to evaluate what the ideal locations are to convert potential clients into actual clients. Today, even in situations where the actual transaction doesn’t happen on the web, the initial place potential clients are engaged and converted is online. Traditionally, brands and their various departments (marketing teams, sales teams and research teams) are in charge of guiding the decision-making process around the first 3Ps (Product, Price and Place) and collaborating with marketing agencies to develop the last P (Promotion). In the past decade, the lines have become considerably blurrier as marketing agencies adopt the consultancy model and gain influence over the other Ps. Modernizing the 4Ps The 4Ps was originally concepted for a world where brands pushed their customers through the sales funnel from awareness and consideration to purchase and brand advocacy. In 2018, good brands use a variety of additional tactics to influence, inspire and invest in their customers’ loyalty. To put it simply, customers expect to engage directly with their favorite brands. So what do modern brands need to think about in today’s marketing environment? They need an updated framework that guides brands to do more than just sell products or services— because the modern customer wants to connect with brands that know their place in the world.
  • 2. The First New P: Passion We now live in a world where brands are more than products that meet needs or wants. Great brands are connecting themselves to their brand mission or reason to exist in powerful ways that provide a clear understanding of their founding desire. Passion Example—Nike Authentic Commitment Nike sells camping products and athletic equipment, but the company also donates millions of dollars to support conservation efforts nationwide and sends volunteers to clean up hiking trails, clean up beaches and more. The company also launched an award-winning social campaign known as #Justdoit, and encouraging customers to get outside and Workout. The Second New P: Purpose The price of a product or service rarely reflects the true value or motivation behind purchasing. Great brands now understand that a relationship occurs with a customer far before the point of purchase and extends long afterwards. The relationship must be constantly developed and maintained. Purpose Example—Starbucks’ Meaningful Rewards Starbucks, one of the world’s largest café restaurant chains, cultivated a devoted following due partly to the brand’s Starbucks Rewards™ program. The more times a customer visits a store, purchases the coffee at a grocery store or uses a branded credit card, the more rewards they receive. Members can earn free refills, attend member events and more. Dedicated customers attain gold status, which means they earn bonuses even more often. Starbucks’ rewards program gives buying food and beverages at Starbucks a purpose that goes beyond a mere discount. The Third New P: Platform In our always-connected digital world, brands can exist entirely online or with very limited distribution at traditional brick-and-mortar retail stores. Great brands are harnessing the power of their online platforms to capture the attention of new and existing customers alike. Platform Example—Casper’s Intangible Trial Internet mattress brand, Casper, has not traditionally been sold in stores. Target recently invested in the company, but the bulk of sales occur online as part of the company’s 100-night risk-free trial. As part of their trial, customers are encouraged to share their trial experience via social media. Casper has fully utilized its digital platforms to disrupt the mattress industry, spread word-of-mouth recommendations and offer a more open, transparent purchasing experience.
  • 3. The Fourth New P: Proposition It’s not enough to have a clear, passionate mission, motivation for purchase and a platform that captures the attention of customers. The last element is to construct a compelling proposition or proposal that resonates and entices customer interaction. Proposition Example— Amul Deserving Following 9 out of 10 brands will shy out, if you ask them to take a stand on a social issue. But Amul, famous for their topical stories, is definitely an exception. Be it any cause or issue, Amul is always there with its opinionated version. All the creatives of Amul focus on the point of view of the mass to address any social situation. And you will find the ever-green Amul girl in each of their content, as if she is conveying the story from her perspective. This makes the brand different from others. The New 4Ps Passion Purpose Platform Proposition Conclusion For brands, the revised 4Ps Marketing Mix framework offers a broad way to think about how your brand should exist, behave and fill its role in the world. The new framework can also help you identify brand strengths and weaknesses relative to the competition.