Monday, May 04, 2009

Rethinking the Ps of Marketing

What should a brand be thinking about?

A lot of us were taught the four Ps of marketing: Product, Price, Place and Promotion. On a one-way street from company to shopper these made sense. The marketer owned the communication and was in the driver's seat making educated guesses or decisions about the go-to-market strategy.

But in this day and age of ubiquitous communication are these the only Ps? With people having a way to share their voice (they always had one) there are other considerations that arise.
  • What promise are you making to me?
  • Where do you position yourself in my mind?
  • Does your personality match mine?
Promise, Position and Personality are the new Ps - particularly in a world where people share their aspirations and frustrations. It seems that understanding these is important to defining the original set.

Branding is about Promise, Positioning, and Personality - selling is about product, price, place and promotion.

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