It took almost 17 years for America to strike their last penny. It was struck at the U.S. Mint in Philadelphia,
That penny has been around since 1793 and ended November 12th.
Not sure we're going to miss them.
Some retailers have a plastic container near the cash register,
Some have to round cash transactions up or down to the nearest five cents when customers ("People") don’t have exact change.
My article, from November 11, 2008, in the Daily News:
Americans still count the penny
We have a love/hate relationship with pennies.
While they accumulate in drawers, jars, glove compartments and doors, pockets, suit jackets, and other nooks, they only have power in numbers. Yesterday as I eyed a tray of pennies at the convenience store, I pondered… it looks like we hate pennies.
Marketing is getting the right product or service to the right people, at the right time, at the right place, at the right price with the right communications and promotion.
One way to do this is with the Nine P’s ©. Products/Services, People, Price, Promotion, Price, Place/Distribution, Partners, Planning, Passion. Where does the penny fit in?
Price, along with Passion or lack of it. You can't buy much with one penny.
Does price affect your purchase if it’s 99 cents versus a buck?
Probably not.
What does matter is the product selection at “99 cents” stores or “Dollar and More”, or “98 or 97 cent” stores or “Mas or Menos” stores.
I’m sure the people running 99 cents stores would argue that they have better product selection than their competitors. It’s not always about price.
Some people have passion in using up pennies, but that doesn’t affect Price, it affects service.
It has been reported that the collection of a penny or two add 2 to 2 ½ seconds to each transaction.
From everything I read, while we don’t like to use them, Americans want to keep the penny.
Coinstar, a Washington company that puts coin-counting machines in supermarkets, found in their research that three out of four people will stop to pick up a penny.
I only stop if it’s heads-up.
Do we need pennies?
The copper-coated coins cost more than one cent each to make.
Bills have been introduced in Congress to retire the coin, but they never gain traction.
The bottom line may be that when it comes to the penny, Americans don't want change. Indeed, the United States did get rid of the half-cent coin in 1857.
Will the penny be next?
I like Marketing. I like advertising. I don't like scammers. I like copy and selling points. I like solving Marketing problems using the nine P's of Marketing. I like teaching them.
I use my 9P's to illustrate Marketing examples in the classroom, in court as an expert witness, in seminars and to solve Marketing problems and to find opportunities.
My 9P's of Marketing do include include these important concepts, practices and components:
- Planning and Research.
- Finding copy points is part of the creative and promotional planning.
- Planning for marketing activities, objectives, strategies and tactics. Viewership, revenue, sales. All sales, whether in services, fashion, sports, amusement parks, hotels, resorts, autos, fast food, retail sales or tires, refreshments or cereal, as three examples.
- From the founder of Intuit, Scott Cook, said: " A brand is no longer what we tell the consumer it is -- (maybe from Marketing Research never was is my comment) it is what consumers (“People” in the 9P’s) tell each other it is.
- People (Segmentation and Targeting)
- Consumers and users, as in shoppers. Fashion consumers. Add travelers.
- In my 9P's, I stress that firms need to look and analyze potential, new, existing and repeat customers and users.
- Product and Services, includes airports, sports teams, people and celebrities too. I teach that perfection resides in quality, not quantity.
- Place (Distribution), includes retail and online. How about locations of airports, team stadiums, amusement parks and resorts?
- Price or Pricing, many contingency plans needed.
- Promotion:
- There are eight (8) major, strategic components or communication elements which are personal and non-personal communication activities.
- The activities that communicate the merits of the overall product include:
- Personal Selling/ Sales Force: Sales persons
- Listen more than you talk. People who listen more, learn more, plus helps you position your service/product/solution or offering.
- Advertising: Like Super Bowl advertising in February for Super Bowl. Think about this expression "It is only creative if the product or service sells." I wanted to add "It is only good media spending if it sells."
- Sales Promotion, advertising mascots can fit here, too. Signage would fit here.
- Collateral Materials
- Direct Marketing (also referred to as Action or Direct Response Advertising)
- Interactive/Internet/Web, Digital Media, Social Media:
- Events and Experiences, sampling
- Public Relations/PR
- One stop shopping is more important than ever.
- Partners/Alliances, can be one of the most powerful of the 9P's if researched, performed and handled well.
- There should be moving forward towards shared goals or goals.
- Presentation:
- The act or acts of strategically 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.
Presentation aspects may be signs, symbols or images that represent something; a descriptive or persuasive account (as a sales person of the product or service). Something set forth for the attention of mind of your targets ("People") and media audiences. I've added "culture," too. I'm adding "culture," too.
- Passion, including consumers and employees. Think about the lines sometimes of consumers waiting for a new Apple product
I am an experienced, senior Forensic Marketing Expert, Advertising expert, Advertising/ Marketing consultant with Londre Marketing Consultants, LLC.
The Nine P's/9P's of Marketing help identify marketing problems in a number of strategic areas and help develop profitable marketing’s objectives, strategies, tactics and solutions. The 9P's are insightful. The nine P's were created for the digital age.
Or for more fun, marketing strategies/tactics and facts: Go to Marketing Trivia with 68 stimulating questions and answers at Londre Marketing Consultants, LLC.






