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.

Interview with Bill Haig at Imprint.

There is an illuminating interview with Bill Haig at Imprint, who worked with the great graphic designer Saul Bass.  He talks about branding as a way of communicating competence, creating an image of a brand that consumers can trust.  An exert from the interview, which is worth reading in full; “… the way the advertisement is presented in electronic and print media represents the source or company. Behind the message is to present creatively the company with credibility. Most advertising today is created to either identify with the receiver or to be friendly or both. “Hey, I like that company! I am going to go out and buy their product accordingly!” I like my very young grandkids too, but would not buy a computer they suggest. Remember that credibility is “expertise,” ”core competence,” and “liking”/”trustworthiness.” When ads get cutesy and overfriendly, they lose “expertise”/”core competence” in the company behind the message. Look at the friendly-only factor the next time you see a Capitol One ad, for example. Is that the kind of credit card company you want to manage your card with expertise and competence?”

New Google+ Data Shows Weak User Engagement

 

facebook vs google

 

Larry Page called Google+ the company’s social spine.  With a letter published from Larry, http://investor.google.com/corporate/2012/ceo-letter.html. Diving deeper info Google+, they have a long way to go before they can even make facebook sweat.

Here are some findings from RJ Metrics:

  • The average post has less than one +1, less than one reply, and less than one re-share.
  • 30% of users who make a public post never make a second one. Even after making five public posts, there is a 15% chance that a user will not post publicly again.
  • Among users who make publicly-viewable posts, there is an average of 12 days between each post
  • cohort analysis reveals that, after a member makes a public post, the average number of public posts they make in each subsequent month declines steadily. This trend is not improving in newer cohorts.

From what we can see from the outside looking in, Google+ has a long way to go before it becomes a real threat to the social networking landscape. While user growth is strong, it is unclear how much of that is driven by tie-ins with other Google products.

At the end of the day, Google Plus simply does not show the same level of ravenous user adoption and engagement that we’ve seen in other social networks (see our reports on Pinterest Data and Twitter Data for examples).

via New Google Plus Data Shows Weak User Engagement.