Evolving Marketing Strategies: From 4 Ps to 5 Cs
Transitioning from the traditional 4 Ps of marketing to the contemporary 5 Cs model, this content explores the shift towards value-driven marketing strategies focusing on customer context, cost, convenience, control, and communication. It emphasizes the importance of personalized, urgent, relevant, and engaging approaches in marketing while addressing barriers and dissatisfactions in customer interactions.
Download Presentation
Please find below an Image/Link to download the presentation.
The content on the website is provided AS IS for your information and personal use only. It may not be sold, licensed, or shared on other websites without obtaining consent from the author. Download presentation by click this link. If you encounter any issues during the download, it is possible that the publisher has removed the file from their server.
E N D
Presentation Transcript
From the four Ps to the five Cs: value-driven marketing Laurie Gelb, MPH Principal, Profit by Change Seattle, WA
Marketing is everybodys business Stop smoking Vote for Susan Fund my proposal Admit me to your college Donate for a cleaner Earth
Its not about us, its about them When sales was top-down: product, price, promotion, distribution [ four Ps ] Today: customer context (wants, needs), cost, convenience, control, communication [ 5 Cs ] from sidewalk signs to Twitter Customers seek experiences, want to make statements (like environmentally-friendly products) and connect the dots of their lives
So its the first date... What s the me/you ratio? Are you looking and listening, or just talking? Are you using your date as a pretext for doing what you want to do? Experience and a story are a start, but the offering is the vehicle for value
Marketing essentials Data: Primary, secondary, from observation to surveys to sales data: transforming to insights and greater functionality People: Sales, account management, client management, customer service Content: PR, live, virtual, trade development/ strategy, fundraising, crowdsourcing Product: planning/development
Be PURE Personalized: why me? Urgent: why now? Relevant: why this? Engaging: why you?
Reality bites! Dissatisfaction with current options a need Before asking, what could be better, know that someone cares Inertia and ignorance are tough, costly competitors A smartphone s in your pocket not because it s disruptive but for what it can do
Barriers can be boulders Under what circumstances can they learn, consider, purchase? Harry Potter couldn t buy a curtain for under the stairs In many communities, purchasing power is more about culture than money Missions come and go; life s pressures remain
Marketing is about value Marketing success is a win/win -- an equal exchange of value But what does value mean? Identifying, tracking, and leaning into the domains, measures and thresholds that define value is a big part of what marketers do
Choices: means, motive & opportunity To make a decision bite-sized, consider: How important it is (stakes) What the options look like (frame) Commitment time (how long am I stuck with this lawn mower?) What surgeon is a lot more high-stakes than what apple !
Be quick we click! It takes a second to leave a page, close a magazine, stop a TV show It takes a click, tap, or mark to vote, donate, volunteer, add to cart and buy Competition for our attention is keen Forget the windup what s the pitch?
As we decide, we consider: Domains (the broad things that matter, like price and quality) Measures (what does quality mean, like the feel of the material or how see- through it is) Thresholds (at what point do we care, like what shows where, or my microwave needs to hold a 12 pizza)
Brand promise: why this and you? The value you provide, to whom, under what circumstances Joe s Bar & Grill provides college students and young-at-heart adults with solid eats, stiff drinks, friendly people, and two clear big screens to watch Seattle teams. [28 words]
Positioning platform: take a dive Given the competition, including inertia, why us/this/you/now? Not a place for posers and troublemakers, Joe s Bar & Grill offers a low-stress Cheers -like experience. We re the watering hole for real people who don t drink themselves stupid but just want to have a good time and watch some sports.
Find truth, pretenses & beliefs ...and costs, prices, statistics, listings, cultures... Facebook, IG, TikTok,Twitter, YouTube, trade publications, emails, RSS feeds, newspapers, magazines, billboards, conversations, blogs, forums, meetups, clubs, walks, exhibits, TV, radio, podcasts, streams, stores, kiosks, gardens, schools, classes, US Census (incl. Business Builder), Bureau of Labor Statistics, realtor.com, LoopNet, NextDoor, OntheMap, climate, tree canopy, water resources, air quality, jurisdictions, living costs, flood zones, fire risk, Statistical Atlas, hospitals, libraries, highways, public transit, Amazon, Walmart, commercial districts, parks, churches, restaurants, neighborhood associations, indeed.com, grocery stores, not-for- profits ..
Lets SWOT our restaurant! Strengths: yummy food, cool staff, great foot traffic, awesomely loyal customers Weaknesses: No curb for takeout/delivery, tons of competition, have to price up for good meat, hood has fair amount of street crime Opportunities: Space next door for sale, new minor league team playing games nearby Threats: Meat distributor going out of business; others will raise prices. Lease up next year.
But tomorrow? Day shift lead leaves for competitor, others follow Cops select area for special patrols Space next door is sold Landlord asks for early lease renewal
Look forward by looking around Don t just SWOT at the future; build on the past and present What are the enablers and barriers of staying open this week? What are the enablers and barriers to going Bigger, Bolder, Better? What is the next innovative thing that your industry needs? Can you drive or be a part of it? Quick impact solidifies the long term
Want a future? Bring the value. What helps/keeps you from bringing it? After your SWOT, DLBS (Do Less BS): Do more of what? Less of what? Begin doing? Stop doing?
Dont segment, stratify Markets aren t diced tomatoes, they re a mosaic. There s no such thing as a young urbanist, despite what data vendors tell you Promotion aka content/channels/interaction, hinges on what the audiences are, where they are, what they do/read/hear/use Identify the value proposition and show, much more than tell, how your offering fulfills it IRL
Skills for marketing careers Writing, analysis, business understanding, client management, project management, subject matter for different verticals Willing and able to demand answers or money, answer questions, learn new apps, procedures on your own time Able to interact with diverse colleagues, customers and prospects productively
Takeaways Marketing balances creativity, objectivity, persistence and precision Understanding someone else s context: getting who/where they are -- is often the key Stop, look & listen, first and always, so you can relate their world to yours.
