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We know all about the 4 P's of marketing from our study and experience in marketing management. In
today's marketing and business world, there seems to be a need of more P's as it may not be sufficient to
make a successful breakthrough with just 4.

Take this simple example. For a businessman - manufacturer or trader or retailer - he needs products (P-1);
needs a marketplace to meet and sell to customers, like office, bazaar or cyberspace (P-2). With a right
price (P-3) and well-planned promotion (P-4) he wants to reach all his customers (P-5: people) and what he
needs is proper planning (P-6).

The purpose of any successful business is not just to sell products but to collect timely payment (P-7) and to
earn profit (P-8) and if possible earn extra praise too (P-9) - that is to make name and fame both. Modern
day marketing management provides a professional approach (P-10) and emphasizes strategies of
positioning (P-11). Brands, whether for product, company or person, are rated as more prestigious (P-12).
Members of your staff - call them internal customers - are also driven by perks (P-13) and the environment
in the workplace should be a pleasure to work in (P-14) for better performance (P-15).

Like tangible investments in the past, today's management looks forwards to personnel skills (P-16) as a
very important factor for increasing business productivity (P-17).

Let's take the case of a product - you made / manufactured what you liked, what was simple and convenient
to make; you were never bothered about size, shape or colour. There were few competitors and you kept a
price that suited you for large profit. You never worried about improving product quality and generally
manufactured at a place that gave a lot of tax benefits.

There were needs but there was no choice. The customer had no option but to buy at a price dictated to
him. The marketplace was either the factory or godown or bazaar.

Today, no one asks: where is the factory? The marketplace is no more restricted but made available from as
many shops, stores, showrooms or outlets supported with exhibitions, trade-fairs, road shows, a variety of
events, door to door sales and e-market.

A few years ago, you made one simple ad and released it in a couple of newspapers and magazines. That
was the extent of media planning. Only large companies used hoardings and banners. Now there is print,
electronic, digital and multimedia with unlimited choice of mass and niche media, well targeted television
channels and the internet! The huge marketplace.

Today, packaging also adds to the marketing and success of product sales. Customer service packaged with
the sale of product lifts the product in the market. Today, the customer dictates which product to make in
which colour and size.

Successful marketing demands investment in skilled persons

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