Customer Satisfaction
The 4Ps of Marketing. RIP.
The 4Ps of Marketing There’s a lot of stuff out there about the 4Ps of Marketing. Fact is, the best thing to do with the 4Ps model is bury it. To borrow from the Monty Python team, “It is a late model. It’s a stiff. Bereft of life it rests in peace”. Let’s take a step back. The 4Ps of Marketing model – Product, Place, Price, Promotion – was created by Jerome McCarthy, a marketing professor at Michigan State University, in 1960. That’s a long time ago: the year that John F. Kennedy became President of the United States; a new band called The Beatles played their first gig, in Hamburg; and the Pentel Corporation demonstrated the fiber-tip pen. The business mindset back then was all about Products. In the September 2014 McKinsey Quarterly, in an article titled Redefining Capitalism, authors E...
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(Customer) Satisfaction
Customer Satisfaction Back in 1965 The Rolling Stones unleashed (I Can’t Get No) Satisfaction, a protest against conformity, including the conformity demanded by the powerful mass marketing forces of the time: “When I’m watchin’ my TV And a man comes on to tell me How white my shirts can be But he can’t be a man ’cause he doesn’t smoke The same cigarettes as me”[i] In the same year a business growth model was published that expressed and promoted that very conformity. Igor Ansoff’s famous Matrix synthesized everything down to just Products and Markets, resulting in four possible business growth strategies[ii]: Market Penetration = Existing Product in Existing Market Market Development = Existing Product in New Market Product Development = New Product in Existi...
