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KNOW THE P’S OF MARKETING

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If you have a degree in marketing, the odds are that you’ve been taught the “Marketing Mix”, which promotes the Four P’s. The history of the Four P’s, according to Wikipedia, dates back to 1960 when E. Jerome McCarthy proposed this classification. It has been utilized by marketers and taught throughout the world. Personally, I think there are two more P’s that should be added to this group which are even more important than their predecessors, namely, Position and Perception.

Looking at the definitions of these terms will help us understand their significance.

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TRADITIONAL P’S

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PRODUCT
PRICE
PROMOTION
PLACE

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ADDITIONAL P’S

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PERCEPTION

The perception people have of your brand. It is crucial to align the perceptions which your audience has about your brand with reality.

POSITION

The position of your brand in the minds of the audience. This represents your USP (unique selling proposition) as it relates to the competitive landscape.

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THE P’S IN THE PUZZLE

At streamcommunications, we focus our attention on Position and Perception as being the foundation to the remaining P’s in the puzzle.
We help businesses understand their position, and perceptions in the market and competitive landscape so they are able to compete beyond the price of their products and services.

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