Christopher Graves, President & CEO, Asia Pacific, Ogilvy Public Relations Worldwide, authored a presentation found on Scrib’d that explains just how the P’s have become the E’s, highlighting how:
- Product >>> has changed to >>> Experience
- Place >>> has changed to >>> Everyplace
- Price >>> has changed to >>> Exchange
- Promotion >>> has changed to >>> Evangelism
While there’s no audio, and I’m planning on looking up more from Graves on the subject, it’s pretty easy to realize what he’s getting at. Things have changed.
Experience: Where marketers used to focus on their product, now we must think of the entire customer experience- what does a customer encounter related to purchasing and using your product/service?
Get the Free Guide to Build Your Strategic Objectives (with Examples!)
EveryPlace: Today, place has become everyplace- there’s just SO MANY methods for conveying your message: IM, SMS, countless social media websites, video games, product placement in places like TV, Movies, internet video clips- the list goes on.
Exchange: With so much on the web being offered for free, pricing has become much different. Words like Freemium, describing how premium services pay for free services offered by the same company would have boggled marketers minds a few years ago.
Engagement/Evangelism: Promotion isn’t enough any longer. With so many more message channels, we can’t just bombard people with messages and hope they’ll pick them up. Companies have to figure out how to get consumers to allow them into their attention spans.
As I said, I want to read more, and I encourage you to check out the presentation yourself. Staying on top of the changes in marketing is essential, but the good news is that while many of the changes in the last few years may require deeper thought about what customers want, many also have come with a cheaper price tag (as we’ve discussed earlier).
Good luck learning how to utilize the 4 E’s!
Interesting point of view with the 4E’s of Marketing. Its also interesting how terminologies and ideas easily popup in Marketing practice
My name is Steve and i could imagine if the Ps were to change to S i.e. the initial of my name, then, there is potentially a theory of the 4’S of Marketing
Product would be replaced with Satisfaction i.e where beyond just creating products for functional reasons or meeting basic/core needs, manufacturers, through augmenting their products, seek to create consumer satisfaction, including emotional satisfaction
Place would be replaced with Safety/Security – Today’s reality is, online markets are fast replacing the shelves and Safety & Security have become the new worries for online delivery/order for the deliveryman and the consumers respectively. There have been many cases of attacks on deliverymen during delivery and even more cases of online fraud where consumer orders online but does not receive items. So, Safety is crucial to the delivery man while Security of money paid and credit card details are concerns for the consumer
Price would be replaced with Savings – Its no news that every consumer loves the idea of Savings. Either in the form of Sales Promo or discounts… either in cash or more value, its definitely a vital piece any business person wants to put into consideration in their model
Promotion would be replaced with Showing – Well, again, with so many options and media clutter in our world today and where everything is faster, slimmer and all that, consumers have become lazy to read and Promotion efforts would potentially have greater impact if they were in short videos… animated graphics etc Showing rather than in print and audio materials
Astol Advertising. Lagos, Nigeria
very great article.
The marketing mix is very important.
I will use your article here: http://iranmct.com with your copyright