RETHINKING THE 4 PS BB MARKETINGPROBLEMS WITH 4

RETHINKING THE 4 PS

B-B MARKETING—PROBLEMS WITH 4 PS q Leads marketing and sales to stress technology (but that’s fairly equal across products) q Underemphasizes the need to focus on superior value of SOLUTIONS q Distracts from leveraging knowledge of DIAGNOSTICS, ADVICE and PROBLEMSOLVING In your own words, tell a partner what is the problem with the traditional 4 Ps (for B-B)?

MOTOROLA PRODUCT PLACE PRICE PROMOTION SAVE SOLUTION ACCESS VALUE EDUCATION

SOLUTION Define needs met instead of features, functions or technical superiority Moto (new Motorola phone) Ø customizable, Ø don’t have to touch it to have it listen to you, don’t have to “wake the screen” Ø have a day without worry about re-charging!

ACCESS cross channel presence—across all parts of purchase journey Ø magazines, Ø online, Ø store, Ø service (returns, etc. )

VALUE Value relative to price (think Coach)! NOT how price relates to costs, profit margins or competitors’ prices. Tell a partner why Coach is a good example of marketing value relative to price.

EDUCATION Don’t just rely on Ø Advertising Ø PR-public relations Do provide content that is relevant to customers’ specific needs. Target DIY add color to college dorms Target Best Year Ever

CONTENT MARKETING Trends Intuit Content Marketing Forbes on Content Marketing Examples of Content Marketing GE Eco. Imagination Lockheed Martin Boeing Youtube Channel

TO INTEGRATE SAVE AND 4 PS 1. 2. 3. Encourage a solutions mind-set, not a focus on technologically superior products. Ensure organization is truly customercentric and focused on solution, access, value and education. Collaboration between marketing/ sales and the development/delivery. Solutions based on specific customer needs.

UPDATE: MOTOROLA Gary Briggs, who was formerly the marketing chief at Motorola Mobility, has been hired by the social-networking giant Facebook to lead the company's marketing efforts Ø Gary Briggs formerly served as Motorola's CMO after Google completed its $12. 5 billion acquisition last year Ø