Many times Marketers can’t always create customer value and build customer relationships only by themselves. They need the People, one of my nine P's. People or consumers want the products NOW.
Uber and Lft are testing small parcel delivery with Wal-Mart. The rivals are bidding for Wal-Mart. Uber is being tested by Wal-Mart in Phoenix and Lyft is being tested in Denver.
You see changes occurring in how marketers connect with their suppliers, channel partners and others. In this example it's Wal-Mart teaming up with ride-sharing companies, Uber and Lyft to deliver Wal-Mart sales to customers.
Wal-Mart works closely with partners and alliances outside the firm, and with other company departments (inside partners).
Partnership and cooperative agreements are formed that enable parties to bring their major strengths to the table and emerge with better planning, products, services, promotion, presentation, distribution and ideas than they could produce on their own.
Wal-Mart is using and testing ride-sharing companies such as Lyft and Uber to help Wal-Mart battle its grocery competitor, Amazon.
Under "Price." in the nine P's of marketing is the cost: $7 to $10 for standard priority delivery fees at Wal-Mart.
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I am a senior Forensic Marketing Expert, Advertising/Marketing consultant with Londre Marketing Consultants, LLC plus I teach Marketing and Advertising.
I own a copyright for this concept, the Nine P’s/9 P's of Marketing ©2007, which augments the Marketing Mix (Product, Price, Promotion and Place) or the 4P’s by the American Marketing Association, Neil Borden and Jerome McCarthy in the study and practices of Marketing.
The Nine P's/9P's of Marketing help identify marketing problems and opportunities in a number of areas and help develop marketing’s objectives, strategies, tactics and solutions. The Nine P's can be insightful.
In Marketing. the "Customer," or potential customers are king, but are missing in the 4P's.
I consult and teach using the Marketing concepts and practices of the Nine P's/9P's of Marketing.
In the study and practice of Marketing, Marketing and Brand Managers develop plans, strategies and tactics.
The Nine P's of Marketing include these important components or elements:
- It's about Segmentation and Targeting.
- "People" or targeting has almost always been left out of the traditional "Marketing Mix." Almost every diagram includes the four P's with "Consumer" or "People" or "Potential Buyers" in the middle of the circle. There needs to be more focus on the "Customer," or "People."
- "People," market segments utilizing demographics, geographics, psychographics, behavioral characteristics and technographics are a vital component of the 9P's of Marketing. Once a target market is chosen, the organization can develop its marketing strategies to target this market segment.
- Product and Services
- Place (Distribution)
- Eight (8) major, strategic components: The communication elements include personal and non-personal communication activities. Activities that communicate the merits of the overall product, which include:
- Personal Selling/ Sales Force
- Sales Promotion
- Collateral Materials
- Direct Marketing (also referred to as Action or Direct Response Advertising
- Interactive/Internet/Web, Digital Media, Social Media
- Events and Experiences-
- Public Relations
- Strategic questions under Promotion::
- What should you promote?
- To whom should you promote?
- What economic and discount levels should you offer?
- What form of promotion should you offer? Features?
- How frequent?
- It is important to partner with firms that have similar corporate philosophies, who have agreed upon objectives and strategies.
- The “P” or “Presentation” is the act of presenting any of the different 9P’s© and/or components to your customers, suppliers, wholesalers, retailers, sales force, marketing intermediaries, clients, employees, partners, and/or others.
- Look at “real” product and service experiences. I place “events and experiences” also under Promotion. While traditional marketing is based on target audience impressions/ views/ clicks/ exposure, experimental marketing involves engaging with consumers. Enabling consumers and “allowing” them to feel the brand.
- Those intense, driving or overmastering feelings, emotions in the planning, developing, pricing, promoting, partnering, selling and overall marketing of products or services.
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