4
P's
o Product o Price o Promotion o Place (location) |
4
e-P's
of email marketing added Feb 2007 o Permission o Privacy o Profiling o and Personalization. |
4
P's/C's
added Jan 2015 o Customer solutions not products o Customer cost not price o Convenience not place o Communication not promotion |
. | This page
used in the following courses taught by Prof. Richardson
.
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Understanding the meaning of the 4P's is just about the most important thing you can accomplish in your entire marketing program. The use of the 4P's is a part of most marketing decisions "on the street". |
PRODUCT |
|
PRODUCT | Packaging
strategies can include maintaining the familiar... which attracts loyal
long-time customers, at the same time as being innovative for capturing
new customers, or getting customers to switch from another brand that has
less convenient packaging
|
PLACE |
witiger.com/ecommerce/domainnamesmktg.htm |
PROMOTION |
sometimes for high quality consumer products, like selling a car |
PRICE |
|
4
P's not ..
relevant?
|
UTM student
Karen Y. in March 2013 emailed to say
"I was on twitter and i came across this article regarding how the 4P's are no longer a valid marketing model today. Instead our generation should adapt to 5 news principles" Karen provided a link to
a page on the website of the well known advertising agency Ogilvy.
Tapscott's
"The 4P's are no longer a valid model"
|
4
P's not
relevant?
|
Who is Tapscott? ( dontapscott.com) Don Tapscott has been writing about the internet, web marketing and digital "stuff" since the publication of his famous / controversial book "The Digital Economy: Promise and Peril in the Age of Networked Intelligence" in 1997. He had another book in 1999 titled "Growing Up Digital" which was widely quoted and put him into the "limelight" (partly because nobody else was writing about this, and partly cause what he said was interesting and dealt with upcoming technology issues). |
4
P's not
relevant?
|
"The 4P's are
no longer a valid model" - WTGR disagrees
(WTGR's rebuttal in purple font)
|
4
e-P's for
marketing |
Seneca graduate
student Bei J. in the post-diploma program, emailed in early February 2007
to comment on a "new version" of the 4P's
Bei said
|
4
e-P's for
marketing |
WTGR responds
Thanks Bei, that's a helpful site for sure www.e-bc.ca/pages/resources/email-marketing.php
|
Permission | Stefan Eyram
explains
"Permission is the real key to successful email marketing. If you don’t have explicit permission to send an email to a recipient you are SPAMMING them.." Eyram suggests that if companies send too much spam, lawmakers will come down hard and make regulations forbidding this, and, or people will get so tired of spam they won't take email seriously anymore .. Eyram calls this "email fatigue" |
Privacy | Eyram wisely
advises
"In the past, many email marketers have bundled the privacy issue together with permission. While both are related, they are in fact very different. Permission as we have noted is a request to receive personal information and an invitation to market products or services to individual consumers. Privacy on the other hand, is what email marketers do with the personal information once they receive it and how they keep it private from prying eyes. With identity theft increasing and the average person more concerned about privacy issues, those organizations that consistently take the privacy high road will endear themselves to customers." |
Profiling | Eyram suggests
"Keeping profiles simple is often the best rule of thumb. Essentially, marketers want to know who they are, what they want, how they want to be contacted and how often. It’s also prudent to provide end-users with access to view and freely update their profile. Putting control in the hands of the end-user is far better that having them unsubscribe from your emails because you sent them something they did not want to receive. The smart marketer uses contests, questionnaires and polls to collect information and then aggregates the data with other sources (e.g. point-of-sale, order history, web logs, email metrics, etc.) to create powerful customer and prospect profiles." |
Personalization | Eyram cautions
"Personalization doesn’t mean sending the same message to your entire database and changing the opening line with “Dear .” In email marketing there is no “one size fits all.” Email marketing provides you with the capability to ensure that each person gets “personal” treatment from your organization. Experience has shown us that email marketers using personalization tend to have better open and response rates. They also have an easier time keeping the end user’s permission. In the end, the combination of permission, privacy, profiling and personalization will keep end users “hooked” on your company, your products and services, your messages and your future success." |
4
P's/C's
added Jan 2015 o Customer solutions not products o Customer cost not price o Convenience not place o Communication not promotion |
4 C's | Kotler, Armstrong
and Cunningham write in their marketing text that
"The four Ps of the marketing mix have a number of weaknesses in that they omit or underemphasize some important marketing activities. For example, services are not explicitly mentioned, although they can be categorized as products (that is, service products). As well, other important marketing activities (such as packaging) are not specifically addressed but are placed within one of the four P groups. Another key problem is that the four Ps focus on the seller’s view of the market. The buyer’s view should be marketing’s main concern." |
4 C's | The four Ps
as the four Cs according to Kotler et al
"The four Ps of the marketing
mix can be reinterpreted as the four Cs. They put the customer’s interests
(the buyer) ahead of the marketer’s interests (the seller)."
|
Kotler, P., Armstrong, G.,
Cunningham, P.H. (2005). Principles of Marketing. Toronto: Pearson Education
Canada. pp. 67-70.
sourced from http://www.marsdd.com/mars-library/the-marketing-mix-in-marketing-strategy-product-price-place-and-promotion/
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