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

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.