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Saturday, March 8, 2014

8p's / 9p's / 10p's

https://www.google.com/search?site=imghp&tbm=isch&source=hp&biw=1280&bih=600&q=8+ps+of+marketing

http://marleeward.com/what-gangsters-like-don-carleone-understand-about-selling-that-you-likely-overlook/
http://brandkeys.blogspot.in/2010/11/9th-p.html
http://www.foxcollege.ca/The%209%20Ps%20of%20Marketing.html
http://www.annarbor.com/business-review/the-9-ps-of-marketing/
http://www.londremarketing.com/documents/Nineps05122009.pdf

http://jainmegha01.blogspot.in/2011/12/7-ps-of-marketing-marketing-mix.html

  1. McCarthy's (1960) marketing mix consists of  Product, Price,Place and Promotion      (4)
  2. Magrath proposed another 3 more Ps to meet needs in service-based industries - People, Physical evidence and Process (3)
  3. Kotler (1984:1986) added  (Version 1)                                                                      (2)
    1. Public relations and 
    2. Political Power
  4. Weingand added :             
    (Version 2) 
    1. Prelude : to underscore necessary effort to plan things well ahead of actions;
    2. Postlude: to highlight the need to measure and analyze results after the fact.
  5. Y.S.Chin believes Packaging should be considered another P in the marketing mix         (1)
http://www.extension.iastate.edu/NR/rdonlyres/458279F5-112D-4B5F-AC85-F95C06BC64FA/75277/The_Ten_Ps_of_Tourism_Marketing.pdf


The 10Ps

Positioning
Positioning has three aims:
  1. Claiming a distinctive niche in the marketplace
  2. Making your website distinctive from the many millions of other websites
  3. Supporting your overall marketing and business objectives.
How can you achieve these aims in practice?
  • Be clear about your target customers or potential customers
  • Decide what you are best at doing in the overall online supply chain e.g. are you a creator, a connector, a portal or an online shop?
  • Articulate what makes you distinctive - your USP (Unique Selling Proposition)
  • Reflect your positioning in the design of your website
  • Constantly review your positioning and how your site's positioning is perceived.
Packaging
Online packages come in a wide variety of forms, from face-to-face consulting assignments to information packaged in documents or databases. Or it may be simply a promotional package that describes a physical product. The main aim of packaging is to make it easier to sell and distribute with minimal marketing costs. Three considerations are important:
  1. Determining what to offer online, and what to offer as an added service e.g. via person-to-person dialogue
  2. How to convey to the prospective buyer the value of knowledge in your product or service
  3. How to match what you have with what the customer wants, yet minimize the extra costs of customization.
Achieving these requires a degree of online development. For information and knowledge products one challenge is determining how much to codify. Greater codification means lower reproduction costs, whereas a higher personal knowledge component that can be tailored to a customer's individual needs can command higher prices. Whatever the level of codification, give due attention to the product 'wrapper'. This is where you explain clearly what'd in the package, and also, where practicable, allows the potential buyer to sample it.

Portals
Don't be bemused by the rush into portals. The concept is simple - a one-stop shop for information. The practice, however, is a little trickier. A good portal has structured and unstructured knowledge (content and communities), news and reference material, indexes, navigation tools and search facilities, personalization tools and various in-built applications. personal utilities. Only a few websites can achieve portal status - even if it is for a specialized profession or industry- specific portal. For most organizations, developing an internal enterprise portal is a a major change in itself - and it is not simply a matter of technology but the whole knowledge management infrastructure that lies on top of it. Because portal sites are generally the most highly visited websites, marketers need to consider these two important questions:
  • Are there already established portals for your target markets? If so, what sort of alliances should you develop with portal owners to ensure your visibility?
  • If no such portal exists, does it make sense to create one, either by yourself or with industry partners - some of whom you may regard as competitors?
Pathways
Visitors beat a path to your site from many directions. Your aim should be to create as many pathways as possible. Some of the techniques for doing this are:
  • Ensure you are listed in the main directories and portals used by your target audience
  • Make good use of META keyword and other tags to ensure that you come as high as possible in search engine results - visit Search Engine Watch for some tips on how to do this.
  • Negotiate mutual links with related websites
  • Consider advertising or affiliation programmes - where you pay other sites for referrals
  • Be prominent in communities and other resource sites covering your topic area.
In general, there is no need to pay high amounts for advertisements or placements. If you have helpful editorial content, any number of sites are willing to take it to boost their own credibility, and you get a free hotlink into the bargain. Finally, don't forget to publicize your URL in other publicity material - both online and offline. Having a memorable URL also helps!

Pages
This P is all about making a good impression with your visitors. Unfortunately, far too many websites put style over substance. Talk to any professional, and these are the typical things they look for in a website:
  • Compelling content - relevant to their needs, with links to additional resources
  • Quick to load - if there are important large images, small thumbnails are shown first
  • A good clean design - limited but effective use of graphics
  • Encourage interaction - perhaps through use of a drop-down list or through a short navigation or computational routine
  • Effective navigation - easy to move from on page to another
  • Guidance - steering the visitor to the most relevant pages
and perhaps a bit of intrigue, where tantalizingly one more click may uncover yet more valuable knowledge. The three basic areas that need attention are:
  • A Look 'n Feel appropriate for your target audience - it is helpful to think in terms of metaphors, such as a library, magazine, or personal assistant
  • An Information Architecture that groups information logically - this is where a good knowledge tree helps; and it must be user-centric, not according to the department or author who created the content
  • Navigation aids to help users find their way around quickly - While search engines are in vogue, a good site map - which at a glance shows what is available - is often more practical.
Personalization
Personalization comes in two flavours. First, is the ability for the user to personalize the layout of your home page, such as at MyYahoo! Second, and more widespread, is the serving of pages based on individual profiles or pattern of use of the site. This means that two different people clicking the same initial hyperlinks may be shown two different pages. While it takes expensive eCRM and other software to build fully personalized sites, your website should, as a very minimum, aim to address different classes of audience. For example, on this website, we have FAQs for managers, knowledge professionals,researchers and so on.

Like all technologies with possibilities, it is possible to get so overwhelmed with personalization, that if a visitor does not fit a given profile, then they get shown no pages at all! In fact, you can offer a level of personalization without going overboard on technology e.g.:
  • Using 'cookies' to distinguish first time and returning visitors
  • Targeting offers to particular groups
  • Giving users access to their own account information or specific password protected areas
  • Using different email lists to send messages to different market segments
  • Engaging in a personal email dialogue!
And remember, once you enter the realms of personalization, you are wading through the hazardous waters of personal privacy protection, where laws are becoming stricter all the time.

Progression
Progression is the art of guiding a user from free information through to paid-for goods and services. Unless you are providing a public service or using your website purely for promotional purposes, at some stage you want visitors to turn into paying customers. Take a look at your product portfolio. Do you have free products or samples? What can you sell for $10, $100, $ 1000 and so on? At each stage of progression give the customer value for money, convey your quality, and smooth the pathway to your premium offerings. A good progression in a knowledge-based business goes something like:
  • A free offering e.g. the 'lite' version of a software product
  • Something in return for disclosing information e.g. registering details to receive free monthly newsletter
  • A low cost item - but make sure you have an efficient and low cost online payment mechanism
  • Higher value items - here you must give the visitor confidence that they will get value for money; use samples, money-back guarantees
  • Premium items - most will require individual selling in which some one-to-one dialogue perhaps in the form a of a phone call.
Payments
Once abhorred by the big banks, payments over the Internet are now quite straightforward, thanks to the services provided by Payment Service Providers, and for small businesses, a growing number of shop hosting services. From a marketing perspective, you want to give your customer as much choice as possible, while at the same time making sure you get their funds! Here are a few practical considerations and questions to ask your service providers:
  • What is the point of sale for legal and tax purposes?
  • What currency should I transact in. How much will I lose on a foreign exchange transaction through bank charges?
  • If I send goods first, how do I know I will get paid, especially if it is a low value product and my buyer is in a foreign country?
  • How easy is it to set up my site for instant online credit card payments?
  • How secure are the transactions?
  • How long does it take for my account to be credited?
  • What is my liability for fraudulent transactions conducted at my website?
Processes
It may seem odd to put process as one of the 10Ps of the Internet marketing mix. After all, aren't business processes an integral part of the business, whereas marketing primarily involves with the customer interface? Yes, and that's the point. Marketing is concerned with the whole customer experience, and many websites let the customer down in the quality of that experience - before the sale, during the sale, and after the sale. Surveys have shown consumers abandoning shopping baskets half way through because of usability problems and of goods that are not being received when promised - if at all.
So, before you embark on a major Internet marketing effort, make sure that you can deliver what you promise. Broken promises and lost customers are much more costly to your business, than not even making the offer in the first place.

Performance
This is the bottom line! Unless your website delivers performance, you are wasting your time. This P addresses performance for the customer in terms of online experience and satisfaction; and performance for your business in terms of service delivered and revenue and profit results. As we know, far too many dot.com companies have failed on both counts.
Performance measurement systems (such as the Balanced Business Scorecard or the European Foundation for Quality Management model) are increasingly used to drive a business forward. But an online business is slightly different:
  • It has more intangibles (e.g. intellectual capital)
  • The pace of change is such that any long-term comparisons may be difficult
  • There are complex causal links between inputs and outputs
  • Different indicators need to be monitored than those with which managers may already be familiar
  • New methods of data collection are possible (e.g. online surveys and statistics)
  • Your performance is dependent on the performance levels of others e.g. ISPs, PTTs, software suppliers.
However, these are differences in detail. What remains fundamentally the same is that:
  • A good performance system can help you pinpoint problems and improve your business results
  • Improvement measures should be linked to goals, from organizational to individual
  • It is more important to collect the right information rather than that which is easiest to collect, i.e. it is better to be roughly right than precisely wrong!
Above all, the general approach is the same - clarifying objectives, developing indicators, initiating the system, data collection and analysis, initiating change.


1 comment:

larrystevenlondre said...

In 2007 Larry Steven Londre created and copyrighted the concept of the Nine P's of Marketing (r). Also called the 9P's of Marketing.

The Nine P’s/9P’s of Marketing can be used successfully by product companies, service firms, for profits entities and nonprofits “selling” directly or indirectly to consumers (B2C), to marketing intermediaries (such as industrial, consumer, retail, wholesale and professional channels of distribution), and to other businesses (B2B).

As Management guru Peter F. Drucker once said: “The aim of Marketing is to know and understand the customer so well that the product or service fits him (her/it) and sells itself. And this is one of the reasons I created the Nine P’s. “People” or Targeting was slightly forgotten in the Marketing Mix, and is a major, significant part of the Nine P’s of Marketing.

Companies do not get potential users or customers to try a product by convincing them to love their brand. You get them to love a brand by convincing them to try and use the product or service.

Developing a strong brand is a byproduct. It comes from doing the other things in the Nine P’s of Marketing... right. It comes from doing the other things in the Nine P’s of Marketing ...right, from Larry Steven Londre of Londre Marketing Consultants, USC, Pepperdine, CSUN and others. Make sure the Product or Service is excellent. Research and Planning excellent.

Be sure the company is taking good care of their customers (People), and having the right Planning and targeting (People), the right Product, right Place or distribution, right Price, right Promotion, right Partners, right Presentation, with the right amount of Passion in the 9P’s.

Make sure there is differentiation. Unique Selling Proposition or Point, shortened to U.S. P., falls here too. Differentiate based on the needs and wants of the potential consumers and businesses. That is what builds brands.

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