MARKETING PRESCRIPTION No. 5
"Forget 4Ps, Study 17Ps"
Business is changing and so does marketing. 4Ps theory is half a century old, still taught in management schools and all those who know basics of marketing define business strategy as in past it used to be on 4Ps – product, price, promotion and place. If you notice well in modern emerging markets, you need more Ps to survive, to lead and to grow your business. Of course, today business is marketing. How about incorporating packaging, planning, payment, profit, people, praise, personality, professionalism, perks, performance, productivity, prestige and positioning as additional Ps?