Tuesday, July 23, 2013

The New Marketing Mix : 4 Different Ps

The original Marketing Mix was introduced sixty five years ago. It was a framework for considering how to grow a business and gain market share. The mix consisted of four Ps, price, product, promotion, and place, a list of ingredients that every marketer must pay attention to in order to ensure that their product succeeded in the market.
Over the years extra Ps were added. Ries and Trout gave us positioning at a time when more and more products were being brought to market. Positioning started with the product, but it wasn’t what you did to the product that mattered. Positioning was all about what you did to the “mind of the prospect”. Advertisers looked for positions their clients could own or “holes in the marketplace”.
The basic approach to positioning is not to create something new and different, but to manipulate what’s already up there in the mind.“ —Ries & Trout  Continue reading...