The NEW 4 P’s of Marketing Mix

The NEW 4 P’s of Marketing

 

You might not be aware of the classic 4 P’s of marketing, also known as the marketing mix: price, product, promotion, and place. The Marketing mix; a quick way marketing professionals keep in mind the four major considerations for a brand.

<goElaborate Pinterest Infograph

But the fact is that things change.  The drastic changes with technology, especially via social media and mobile technology, e.g: smart phones, simply cannot be ignored.

The new ‘P’s’ of marketing, as Kimberley Kadlec, Vice-President of Johnson & Johnson’s global marketing group suggested are: Purpose, Presence, Proximity and Partnership.  (http://bit.ly/XuMWT8)

Purpose adds to the value, such as an environmental purpose (Ex: 10% of our revenue goes to WWF), and transparency (Ex: Dolphin-safe fishing).

Proximity and Presence addresses the social and mobile issue.  The brand needs to be accessible everywhere: Google, Facebook, Youtube, and everything else you can think of.

Partnership focuses on collaboration with both businesses and clients to advance the brand.  Be it looking at the feedback of customers or sponsoring events to gain further exposure.

Brands both new and old must consider the new variables in this digital age, and it all begins with the new P’s of marketing.

Why do we use Social Media?

Social Media

Social media is a web-based and mobile-based technology that is used world-wide. The social media is used to turn communications into interactive communities and individuals. It is a source that is accessible to anyone and helps apply  different forms such as;

 

  • Internet forums
  • Weblogs
  • Social blogs
  • Microblogging
  • Wikis
  • Podcasts
  • Photographs
  • Pictures
  • Videos
  • Rating
  • Social Bookmarking.

 

Social networks such as (Facebook, Twitter, Instagram and Myspace, etc) are sites that are frequently visited daily and millions of users are using today.


Source: www.abovethelaw.com

By: Gabe Acevedo