Friday, December 16, 2011

More on the 4Ps

SKI on the New 4Ps of Marketing
at the AmSpirit HOF Chapter
held at Creative Sources

For me, the good news is simple: The "new" Four Ps of Marketing are the same as the old four Ps of Marketing:
  • Product
  • Price
  • Place
  • Promotion
The challenge in light of every "guru" on the net claiming to have found a missing P to add to the mix, is to remain true to the that which works. Too few remember the painful meltdown of the dot com era when it was proven [once again] that failure to understand the mechanics of Marketing and the 4Ps most certainly will cause business failures. In case you missed living through that history lesson, two major elements helped "tip" the meltdown: the belief that more "eyeballs" [as in the number of people looking at your banner advertising] were the key to success; the belief that funding raising was the same as making sales.

Yes, otherwise very smart people repeatedly made the claim about "revenue" when in fact they had yet to make the first sale. Somehow, any cash coming into the business was classified as a victory. Perhaps in the short term, but without a REAL "payer source" for your goods and/or services, you will [and must] reach the end of the adventure. Investors grow impatient. But I digress...

Tune in Monday to the blogtalkradio network to hear me explore the 4Ps for Product Managers on ProdMgmtTalk

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