Than why did the 11Ps or 10Ps came in, and what are these.
The 11Ps of Marketing are: Product, Price, Place, Promotion (original 4Ps), People, Process, Physical Evidence (Added 3 for services), Positioning, Packaging, Persuasion and Performance.
The 10Ps are : Original 7+ Purpose, Profit and Potential
Having a keen look at these we find that most of these Ps are unnecessarily inserted.
Talk about Packaging: one can say that it is an important part for marketing. So lets see what is packaging. Packaging is important as it helps in determining how a product looks, it is important part of a product's safety and helps in pricing of a product i.e. better packaging projects elite look and thus commands greater price.
So by this we can see that Packaging is a part of product, promotion and helps in determining the 3rd P i.e. Price.
Similarly Positioning comes from all 4Ps i.e. a good product, A high priced product, a product available only on internet or a highly promoted product. All the 4Ps help determine the positioning.
Persuasion is done by Promotion, Performance is a Product attribute and Profit comes from better Pricing.
So, why did these extra Ps came into being.
The reason is simple, people view anything too narrowly and do not combine the dots i.e. when people talk about Product in 4Ps they forget about the attribute of product and how product affects performance etc.
So in order to remove the complexity and design a better marketing strategy we need only 4Ps but we need to look at these in a more holistic way than ever before.
I'll tell u y these xtra Ps came in,
ReplyDeleteafter 4 Ps, there was a vacuum in Ps so those who wanted to prove their genius and believed that every bit of marketing is non rocket science thing n marketing concepts can be stuffed like anythng, those super breeds only put forward these concepts otherwise i strongly recommend that for product there r only 4Ps and for services- 7Ps.