CM’s Neil Clemmons discusses how Marketing’s 4 Ps can adapt to the 21st century marketing mix
Anyone who’s a student of marketing has learned about the four Ps for defining the right marketing mix. Product, Price, Promotion, and Place (as in distribution) were drilled in our heads as the way to think about assembling the right mix of tactics to drive marketing success.
Given the changing consumer dynamics, increasing mix of technology in driving preference and decisions, and the role of social and societal influence, it’s time we reformulate (and expand) these elements in planning the right marketing mix for 21st Century success.
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