“People,” one of the nine elements or components of marketing, is another addition to E. Jerome McCarthy’s original 4 P’s of the Marketing Mix. Let’s look at it more closely.
A couple of examples:
The 2 Guyz on Marketing say, “Be sure to look at competing FOR the customer more than AGAINST your competition.” The more you discover, learn, know, and understand about the people who are buying (or would potentially buy) your product, the more successful in marketing you will be!
For more Marketing insights, ideas, concepts and Marketing solutions: Go to Londremarketing.com and look under “Articles and Resources” and the 9P’s/Nine P’s ©2007. Specifically you will find them detailed at 9P’s/Nine P’s or Nine P’s/9P’s of Marketing.
*Created by Larry Steven Londre. Copyright 2007.
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But just as marketing doesn’t stand still, neither does the framework. After decades of working in, consulting in, and teach marketing, our own Larry Steven Londre developed his own 9 P’s of Marketing. Others have tried to make gimmicky “P’s” of varying amounts, but as 2 Guyz Brian Hemsworth says, “Londre’s 9 P’s is the best model for teaching and understanding today’s marketing environment.”
This begins a very special 9-part series from Larry where we look at each of the 9 P’s of Marketing. This is highly recommended reading for marketing students, entrepreneurs, company presidents and CEOs, and yes, even marketing professionals.
The nine P’s of Marketing contain several valuable concepts, elements, terms and useful definitions to help explain, find problems and aid in the understanding of Marketing and related activities, including Marketing objectives, strategies and tactics.
Can your customers, clients or users tell the difference between you and your competition? The Nine P’s/9P’s of Marketing can be used successfully by product companies, service firms, for profits entities and nonprofits “selling” directly or indirectly to consumers (B2C), to marketing intermediaries (such as industrial, consumer, retail, wholesale and professional channels of distribution), and to other businesses (B2B).
The 9 P’s include:
Let’s start at the beginning with “planning,” one of the nine elements or components:
To develop and transform marketing objectives to marketing strategies to tactics, marketing management must make basic decisions on marketing targets “People”), marketing mix, marketing budgets/expenditures and marketing allocations. It’s dividing the total marketing budget among the various tools in the marketing mix and for the various products, channels, promotion, media and sales areas.
Using research applies to each component and part in the nine/9P’s of Marketing.
It’s good to note that Albert Einstein said: “Not everything that counts can be counted, and not everything that can be counted counts.”
Planning includes observing what to do and what not to do in the marketplace. It includes research and developing a vision for each of the remaining nine P’s.
Critical thinking thoughts from the 2 Guyz on Marketing are based on a quote by Leonardo da Vinci: “Principles for the development of a complete mind: Study the science of art. Study the art of science. Develop your senses, especially learn how to see. Realize that everything connects to everything else.”
[1] https://www.ama.org/AboutAMA/Pages/Definition-of-Marketing.aspx
For more Marketing insights, ideas, concepts and Marketing solutions: Go to Londremarketing.com and look under “Articles and Resources” and the 9P’s/Nine P’s ©2007. Specifically you will find them detailed at 9P’s/Nine P’s or Nine P’s/9P’s of Marketing.
*Created by Larry Steven Londre. Copyright 2007.
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