15 p's of marketing

Understanding Marketing & Branding

Some valuable insights.

1Prepared by Virender Raina

Evolution of P’s in Marketing

Classical Marketing Mix

• conceived by James Culliton in 1948

• coined as the marketing mix by Neil Borden

• declassified as the 4′s by Jerome McCarthy

Prepared by Virender Raina 2

1. Product:• More than just a simple set of tangible features,

physical products as well as services.

• Split into three different levels the product can refer to either;

– the core product,

– the actual product or

– the augmented product.


2. Price:

• Despite the increasing role of non pricing factors

in the modern marketing process,

• Price remains an important element in the

marketing mix.


3. Placement:

• Producing a product or service and making it

available to buyers requires

• building relationships not just with customers

• but also with key suppliers and resellers in the

supply chain.


4. Promotion:

• Represents the numerous aspects of marketing

communication, informing customers about

product benefits and carefully positioning these

in customers minds, utilising a wide range of

communication forms and mediums.


Service Marketing 7P’s (Extended Marketing Mix)

• Service Marketing draws upon the principles of

understanding the interaction involved between

the customer and the suppler in order to

understand how to improve services and how to

build a greater rapport.


5. People:

• For most services, people are a vital element of

the marketing mix.

• The interaction between staff and customers can

be the essential turning point between any

decision making process.


6. Process:

• A service firm has no products, only interactive

processes – Gronroos, 2001 cited from Adrian Palmer Principles of

Service Marketing 4th Edition.

• With services, a clear distinction cannot be made

between marketing and operations

management.Prepared by Virender Raina 9

7. Physical Environment:• Because of the intangible nature of a service this

subsequently means that potential customers are unable to judge that service before it is consumed.

• An important element of marketing planning is therefore to reduce this level of risk by offering tangible evidence of the nature of the service. –cited from Adrian Palmer Principles of Service Marketing 4th Edition.


New Age of Marketing - Online Marketing 11 P’s of Marketing:

• With the incorporation of Web 2.0 and the

greater interaction between users and

companies via the internet and the virtual world,

the marketing mix now can utilise the following

additional 4 P’s of Marketing.Prepared by Virender Raina 11

8. Privacy: • In accordance with the rules and regulations of

data protection acts it is important especially in the online digital age.

• Privacy from unwanted spam, junk and telecommunications provides customers with a sense of anonymity and allows for more selective forms of marketing.


9. Personal Interest: • As services are becoming more interactive,

advertising and promotion are becoming more personalised with the incorporation of personal tastes.

• Personal interests are becoming an increasing important decision making process for customers.

• Personal interests can make the difference between customer choosing a particular brand or product.


10. Personal [e.g. Social] Networks:

• For instance Facebook, Myspace forum sites and

social media.

• These sites generate a new form of marketing

know as social media marketing.


11. Public Commentary:• Important in the age of online trading and

entrepreneurship.

• For instance online auction sites like E-Bay, Amazon have more credibility when providing market information

• They also place a 2 directional form of communication (social exchange process)


Technomadic Age of Marketing New Ideas and Philosophies of Trade and Commerce

• growing awareness that the statistically defined traditional markets were rapidly becoming more diverse and fragmented.

• In addition that the role of the customer is moving away from being a passive instrument in marketing towards a more engaging interactive approach.


• “New 4Ps” model of Nomadic Marketing was developed by Idris Mootee in 2001.

• Founded a strategic innovation and experience design firm that helps Fortune 500 clients harness purposeful innovation to create new products, services and experiences.


12. Personalization:

• Through the combination of emerging

technologies and the increasing form interaction

between customers via the internet, there is a

greater degree of customisation of products and

services.


13. Participation:

• This allows customers to participate in what a

brand should stand for.

• What the direction of product should be and the

style of advertisements, creating a free flow of

information between customers and companies.


14. Peer to Peer:• Social computing is becoming an increasing

disruptive form of the traditional balance in marketing, as customers bases are being replaced by active customer communities.

• Rather than the companies imposing brand awareness and advertising, it is increasingly engaging towards the customers as active instruments in the selling process.


15. Predictive Modeling:• The neural network algorithms used in applied

marketing problems.

• In essence to try to predict the best probability of an outcome on the basis of detection theory.

• Extensively developed in analytical customer relationship management helps plan out the expectations that a customer will take a particular action.


Recollecting all the P’s.

1. Product

2. Price

3. Place

4. Promotion

5. People


6. Process

7. Physical Evidence

8. Privacy

9. Personal Interest

10. Personal Social Networks

11. Public Commentary

12. Personalisation

13. Participation

14. Peer to Peer

15. Predictive Modeling

BRANDS & BRANDING


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15 p's of marketing

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