Marketing’s new 5 Ps: Turning what you know inside out
March 19, 2008 | Hospitality Industry
With apologies to Philip Kotler, whose four Ps - product, price, place, and promotion - have been integral to any successful product or service marketing effort of the past 50 years, today's successful marketing hinges on five new Ps.
Whereas the Ps we studied in college are all from the provider’s point of view, these new Ps focus with laser-like clarity on the customer.
But customer-centricity can’t be the mantra of just the marketing department. Every group, from the boardroom to product leaders to IT, must place the customer at the core of every decision it makes.
Responsibility for evangelizing within the organization rests squarely on the shoulders of the CMO. After all, if the marketing chief isn’t living and breathing customer focus every minute, and encouraging others to do the same, who will believe its importance?
Get the full story at MarketingProfs.com
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