Well, an easy answer: Chip Kelly was a Nike guy and now is an Under Armour guy, even though Kelly’s got or had or will continue to have a close relationship with Nike founder Phil Knight.
UCLA has a relationship, a strategic partnershi0p, under the 9P's of marketing, with its $280 million agreement with Under Armour.
Nike and Under Armour, we can add, Adidas too, are bitter rivals, across the product line spectrum.
Need more business, Marketing or advertising insights?
Visit here for examples and insights into Marketing, the nine P's, targeting or "people," promotional and advertising strategies. Plus true, researched marketing insights and advertising trivia.
For the past 46 years, I have been a Marketing professional, a Forensic Marketing Expert, Marketing and Advertising consultant with Londre Marketing Consultants, LLC plus I teach Marketing, global Marketing and Advertising.
Ten years ago, I created and own a copyright for the Marketing concept, the Nine P’s/9 P's of Marketing ©2007, which augments the Marketing Mix (Product, Price, Promotion and Place) or, known as the "4P’s" by the American Marketing Association, Neil Borden and Jerome McCarthy in the study and practices of Marketing.
In the late 60's I was first taught In Marketing that the "customer," or potential purchasers, buyers are king or kings, but they are missing as one of the P's, in the 4P's. It's prominent and its own "P" in the 9P's of Marketing.
The Nine P's/9P's of Marketing help brand managers, companies, firms and business managers to find marketing problems and opportunities and to identify marketing opportunities, solutions, in a number of areas. The utilization of the 9P's of Marketing help, develop and guide a company or a firm's marketing objectives, strategies, tactics and solutions.
The Nine P's can be truly insightful, in many ways and in many possible actions.
I consult, teach and work as a Marketing, business and Advertising expert using many Marketing concepts and practices, including the Nine P's/9P's of Marketing.
So what is Marketing?
Marketing is a planning and execution process that involves a product or service's attributes, research, distribution, pricing, partnerships/alliances, promotion and more.
All of these activities must work together to assure successful marketing practices.
Firms, associations and companies with the most effective marketing efforts try to thoroughly understand their customers ("People") and the marketplace. Companies and new product/service development professionals create products and services to meet market needs. These firms and others use marketing research and channels for understanding and communicating to a target market or audience ("People" in the 9P's of Marketing).
In the study and practice of Marketing, Marketing manager and Brand agents develop objectives, strategies, planning and tactics.
The 9P's of Marketing include important components, elements, actions and efforts.
Let's start with targeting, "People," one of the nine elements or components. :
- People
- Look at all of the product lines of Nike, Under Armour and potential buyers and users.
- "People" or targeting has almost always been left out of the traditional "Marketing Mix." Almost every diagram includes the four P's with Product, Promotion, Place and Price.
- Look at new, existing and repeat customers.
- Place "consumer" or "People" or "potential buyers" in the middle of a circle. Add the other components in the nine P's. In Marketing, from my education, training, research and analysis plus testimony, there needs to be greater focus on the "Customer," or "People."
- "People" or market segments may utilize demographics, geographics, psychographics, behavioral characteristics and technographics, which may be a vital component or components of the 9P's of Marketing. Once a target market is chosen, the organization can develop its marketing strategies to target this market segment.
- Simply it's about Segmentation and Targeting. Add Positioning and you have STP, as a major first step.
- Planning:
- It starts with research and researching. This element of planning in the nine P's is a method for achieving an end, and, looking at the eight other parts, can be a detailed formulation of a program of action.
- Developing and transforming marketing objectives to marketing strategies to tactics, marketing management must make basic decisions on marketing targets (“People”), marketing mix, marketing budgets/expenditures and marketing allocations.
- Review dividing the total marketing budget among the various tools in the marketing mix and for the various products, channels, promotion, media and sales areas.
- Product and Services:
- A product (service) is anything that can be offered to a market for attention, acquisition, use or consumption that might satisfy a want or need.
- The goods and service combination the firm offers to the target market, including variety of product mix, features, branding, designs, packaging, sizes, services, maintenance contracts, warranties and return policies.
- Place (Distribution):
- Offering the right product at the right PLACE, at the right time, at the right price. It's the company’s activities that make the product available, using distribution and trade channels, roles, coverage, assortments, locations, inventory and transportation characteristics and alternatives.
- Considering, developing and reviewing store and non-store, e-commerce and “brick and mortar” factors, considerations, objectives, strategies and tactics, including “Partners.”
- Price:
- Simply, all aspects regarding pricing.
- “Pricing” is the sum of the values that customers exchange for the benefits of having or using the product or service.
- The amount of money a consumer is willing to pay to obtain the product. Pricing includes wholesale/retail/promotional prices, discounts, trade-in allowances, quantity discounts, credit terms, sales and payment periods and credit terms.
- Pricing decision making also involves adjusting prices concerning the competitive environment, economic situations and involve buyer perceptions.
- Promotion:
- Eight (8) major, strategic components: The communication elements include personal and non-personal communication activities.
- The activities that communicate the merits of the overall product, which 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: There's an expression "It is only creative if it sells." I wanted to add "It is only good media spending if it sells."
- 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/PR
- Here are some strategic questions under Promotion::
- The $280 million deal with UCLA and Under Armour surely helped UCLA pay Chip Kelly, $23 million over five years.
- Have you noticed that you may watch what you want to watch in TV programing when you want to watch it and anywhere, any screen? That affects media planning.
- Evaluate the eight different elements under Promotion and your brand's practices and ask is there a better way?
- What are your costs in dollars and manpower or person power and ask "Is there a different way or ways to budget?"
- Look at different strategic partners? Their costs?
- To whom should you target and promote? Under People/Targeting, target audience within media falls here.
- What should you promote? Strategic copy points.
- UCLA has been discounting tickets for years. Not so much next year would be an assumption. Had only 50K at the game last night with CAL. Discounting? Special sales? What economic and discount levels should you offer? Look at revenue versus costs.
- What form or combination of promotion should you offer? Features?
- How frequent? Add media planning here.
- Partners:
- Also referred to as Alliances. Working with others and organizations which take part in an undertaking with another or others, in a business or company with shared risks and profits.
- With "Partners" and in Marketing, it is vitally important to partner with firms that have similar corporate philosophies, with agreed upon objectives and strategies.
- Presentation:
- The “P” or “Presentation” is the act of presenting, displaying and putting forward 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.
- Enabling consumers and “allowing” them to feel the brand. As part of "presentation," I also place “events and experiences” under Promotion.
- While traditional marketing is based on target audience impressions/ views/ clicks/ exposure, experimental marketing involves engaging with consumers.
- Passion:
- Those intense, driving or overmastering feelings, emotions in the planning, developing, pricing, promoting, partnering, selling and overall marketing of products or services.
Black Friday 2017 sales will come in at around $33 Billion.
Did you know that that the brick and mortar retailers have been discounting and pushing discounts for days and as much as a month in anticipation of Black Friday?
It's getting harder and harder for the retailers with brick and mortar stores to compete.
Even the crowds were smaller yesterday.
There are many reason for this. I have observed that shoppers don't always want crowds. Consumers were more relaxed and crowds smaller. But it is easy to shop on line, and have the item shipped that day or the next day. .
I did see on Thanksgiving night starting at 3PM or 4PM that Best Buy had specials on Thursday, Thanksgiving, starting at 5PM.
There was a line that went around for maybe 110 shoppers. When the doors opened the line really went away an hour later was no existent.
All of these Black Friday specials on Black Friday week 2018 fall under "Price" or "Pricing" and Promotion or specifically Sales Promotion, under the 9P's of Marketing.
Need more business, Marketing or advertising insights?
Visit here for examples and insights into Marketing, the nine P's, targeting or "people," promotional and advertising strategies. Plus true, researched marketing insights and advertising trivia.
For the past 46 years, I have been a Marketing professional, a Forensic Marketing Expert, Marketing and Advertising consultant with Londre Marketing Consultants, LLC plus I teach Marketing, global Marketing and Advertising.
Ten years ago, I created and own a copyright for the Marketing concept, the Nine P’s/9 P's of Marketing ©2007, which augments the Marketing Mix (Product, Price, Promotion and Place) or, known as the "4P’s" by the American Marketing Association, Neil Borden and Jerome McCarthy in the study and practices of Marketing.
In the late 60's I was first taught In Marketing that the "customer," or potential purchasers, buyers are king or kings, but they are missing as one of the P's, in the 4P's. It's prominent and its own "P" in the 9P's of Marketing.
The Nine P's/9P's of Marketing help brand managers, companies, firms and business managers to find marketing problems and opportunities and to identify marketing opportunities, solutions, in a number of areas. The utilization of the 9P's of Marketing help, develop and guide a company or a firm's marketing objectives, strategies, tactics and solutions.
The Nine P's can be truly insightful, in many ways and in many possible actions.
I consult, teach and work as a Marketing, business and Advertising expert using many Marketing concepts and practices, including the Nine P's/9P's of Marketing.
So what is Marketing?
Marketing is a planning and execution process that involves a product or service's attributes, research, distribution, pricing, partnerships/alliances, promotion and more.
All of these activities must work together to assure successful marketing practices.
Firms, associations and companies with the most effective marketing efforts try to thoroughly understand their customers ("People") and the marketplace. Companies and new product/service development professionals create products and services to meet market needs. These firms and others use marketing research and channels for understanding and communicating to a target market or audience ("People" in the 9P's of Marketing).
In the study and practice of Marketing, Marketing manager and Brand agents develop objectives, strategies, planning and tactics.
The 9P's of Marketing include important components, elements, actions and efforts.
Let's start with targeting, "People," one of the nine elements or components. :
- People
- "People" or targeting has almost always been left out of the traditional "Marketing Mix." Almost every diagram includes the four P's with Product, Promotion, Place and Price.
- Look at new, existing and repeat customers.
- Place "consumer" or "People" or "potential buyers" in the middle of a circle. Add the other components in the nine P's. In Marketing, from my education, training, research and analysis plus testimony, there needs to be greater focus on the "Customer," or "People."
- "People" or market segments may utilize demographics, geographics, psychographics, behavioral characteristics and technographics, which may be a vital component or components of the 9P's of Marketing. Once a target market is chosen, the organization can develop its marketing strategies to target this market segment.
- Simply it's about Segmentation and Targeting. Add Positioning and you have STP, as a major first step.
- Planning:
- It starts with research and researching. This element of planning in the nine P's is a method for achieving an end, and, looking at the eight other parts, can be a detailed formulation of a program of action.
- Developing and transforming marketing objectives to marketing strategies to tactics, marketing management must make basic decisions on marketing targets (“People”), marketing mix, marketing budgets/expenditures and marketing allocations.
- Review dividing the total marketing budget among the various tools in the marketing mix and for the various products, channels, promotion, media and sales areas.
- Product and Services:
- A product (service) is anything that can be offered to a market for attention, acquisition, use or consumption that might satisfy a want or need.
- The goods and service combination the firm offers to the target market, including variety of product mix, features, branding, designs, packaging, sizes, services, maintenance contracts, warranties and return policies.
- Place (Distribution):
- Offering the right product at the right PLACE, at the right time, at the right price. It's the company’s activities that make the product available, using distribution and trade channels, roles, coverage, assortments, locations, inventory and transportation characteristics and alternatives.
- Considering, developing and reviewing store and non-store, e-commerce and “brick and mortar” factors, considerations, objectives, strategies and tactics, including “Partners.”
- Price:
- Simply, all aspects regarding pricing.
- “Pricing” is the sum of the values that customers exchange for the benefits of having or using the product or service.
- The amount of money a consumer is willing to pay to obtain the product. Pricing includes wholesale/retail/promotional prices, discounts, trade-in allowances, quantity discounts, credit terms, sales and payment periods and credit terms.
- Pricing decision making also involves adjusting prices concerning the competitive environment, economic situations and involve buyer perceptions.
- Promotion:
- Eight (8) major, strategic components: The communication elements include personal and non-personal communication activities.
- The activities that communicate the merits of the overall product, which 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: There's an expression "It is only creative if it sells." I wanted to add "It is only good media spending if it sells."
- 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/PR
- Here are some strategic questions under Promotion::
- Have you noticed that you may watch what you want to watch in TV programing when you want to watch it and anywhere, any screen? That affects media planning.
- Evaluate the eight different elements under Promotion and your brand's practices and ask is there a better way?
- What are your costs in dollars and manpower or person power and ask "Is there a different way or ways to budget?"
- Look at different strategic partners? Their costs?
- To whom should you target and promote? Under People/Targeting, target audience within media falls here.
- What should you promote? Strategic copy points.
- Discounting? Special sales? What economic and discount levels should you offer? Look at revenue versus costs.
- What form or combination of promotion should you offer? Features?
- How frequent? Add media planning here.
- Partners:
- Also referred to as Alliances. Working with others and organizations which take part in an undertaking with another or others, in a business or company with shared risks and profits.
- With "Partners" and in Marketing, it is vitally important to partner with firms that have similar corporate philosophies, with agreed upon objectives and strategies.
- Presentation:
- The “P” or “Presentation” is the act of presenting, displaying and putting forward 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.
- Enabling consumers and “allowing” them to feel the brand. As part of "presentation," I also place “events and experiences” under Promotion.
- While traditional marketing is based on target audience impressions/ views/ clicks/ exposure, experimental marketing involves engaging with consumers.
- Passion:
- Those intense, driving or overmastering feelings, emotions in the planning, developing, pricing, promoting, partnering, selling and overall marketing of products or services.
Here's what's happening; it's about demographics, one of the five parts or elements under "People," or Targeting in the 9P's of marketing, they are changing. The casinos want younger customers. Get rid of bingo for the older "people."
It's about building revenue. A different clientele that the casino want to cater to. .
Casinos are ripping out bingo parlors, and, in the past, their primary source of consumers and revenue and are now putting in more shot machines, card games and bars with and without restaurants.
They are simply going getting out of the bingo business and catering to new segments of potential customers.
Need more business, Marketing or advertising insights?
Visit here for examples and insights into Marketing, the nine P's, targeting or "people," promotional and advertising strategies. Plus true, researched marketing insights and advertising trivia.
For the past 46 years, I have been a Marketing professional, a Forensic Marketing Expert, Marketing and Advertising consultant with Londre Marketing Consultants, LLC plus I teach Marketing, global Marketing and Advertising.
Ten years ago, I created and own a copyright for the Marketing concept, the Nine P’s/9 P's of Marketing ©2007, which augments the Marketing Mix (Product, Price, Promotion and Place) or, known as the "4P’s" by the American Marketing Association, Neil Borden and Jerome McCarthy in the study and practices of Marketing.
In the late 60's I was first taught In Marketing that the "customer," or potential purchasers, buyers are king or kings, but they are missing as one of the P's, in the 4P's. It's prominent and its own "P" in the 9P's of Marketing.
The Nine P's/9P's of Marketing help brand managers, companies, firms and business managers to find marketing problems and opportunities and to identify marketing opportunities, solutions, in a number of areas. The utilization of the 9P's of Marketing help, develop and guide a company or a firm's marketing objectives, strategies, tactics and solutions.
The Nine P's can be truly insightful, in many ways and in many possible actions.
I consult, teach and work as a Marketing, business and Advertising expert using many Marketing concepts and practices, including the Nine P's/9P's of Marketing.
So what is Marketing?
Marketing is a planning and execution process that involves a product or service's attributes, research, distribution, pricing, partnerships/alliances, promotion and more.
All of these activities must work together to assure successful marketing practices.
Firms, associations and companies with the most effective marketing efforts try to thoroughly understand their customers ("People") and the marketplace. Companies and new product/service development professionals create products and services to meet market needs. These firms and others use marketing research and channels for understanding and communicating to a target market or audience ("People" in the 9P's of Marketing).
In the study and practice of Marketing, Marketing manager and Brand agents develop objectives, strategies, planning and tactics.
The 9P's of Marketing include important components, elements, actions and efforts.
Let's start with targeting, "People," one of the nine elements or components. :
- People
- "People" or targeting has almost always been left out of the traditional "Marketing Mix." Almost every diagram includes the four P's with Product, Promotion, Place and Price.
- Look at new, existing and repeat customers.
- Place "consumer" or "People" or "potential buyers" in the middle of a circle. Add the other components in the nine P's. In Marketing, from my education, training, research and analysis plus testimony, there needs to be greater focus on the "Customer," or "People."
- "People" or market segments may utilize demographics, geographics, psychographics, behavioral characteristics and technographics, which may be a vital component or components of the 9P's of Marketing. Once a target market is chosen, the organization can develop its marketing strategies to target this market segment.
- Simply it's about Segmentation and Targeting. Add Positioning and you have STP, as a major first step.
- Planning:
- It starts with research and researching. This element of planning in the nine P's is a method for achieving an end, and, looking at the eight other parts, can be a detailed formulation of a program of action.
- Developing and transforming marketing objectives to marketing strategies to tactics, marketing management must make basic decisions on marketing targets (“People”), marketing mix, marketing budgets/expenditures and marketing allocations.
- Review dividing the total marketing budget among the various tools in the marketing mix and for the various products, channels, promotion, media and sales areas.
- Product and Services:
- A product (service) is anything that can be offered to a market for attention, acquisition, use or consumption that might satisfy a want or need.
- The goods and service combination the firm offers to the target market, including variety of product mix, features, branding, designs, packaging, sizes, services, maintenance contracts, warranties and return policies.
- Place (Distribution):
- Offering the right product at the right PLACE, at the right time, at the right price. It's the company’s activities that make the product available, using distribution and trade channels, roles, coverage, assortments, locations, inventory and transportation characteristics and alternatives.
- Considering, developing and reviewing store and non-store, e-commerce and “brick and mortar” factors, considerations, objectives, strategies and tactics, including “Partners.”
- Price:
- Simply, all aspects regarding pricing.
- “Pricing” is the sum of the values that customers exchange for the benefits of having or using the product or service.
- The amount of money a consumer is willing to pay to obtain the product. Pricing includes wholesale/retail/promotional prices, discounts, trade-in allowances, quantity discounts, credit terms, sales and payment periods and credit terms.
- Pricing decision making also involves adjusting prices concerning the competitive environment, economic situations and involve buyer perceptions.
- Promotion:
- Eight (8) major, strategic components: The communication elements include personal and non-personal communication activities.
- The activities that communicate the merits of the overall product, which 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: There's an expression "It is only creative if it sells." I wanted to add "It is only good media spending if it sells."
- 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/PR
- Here are some strategic questions under Promotion::
- Have you noticed that you may watch what you want to watch in TV programing when you want to watch it and anywhere, any screen? That affects media planning.
- Evaluate the eight different elements under Promotion and your brand's practices and ask is there a better way?
- What are your costs in dollars and manpower or person power and ask "Is there a different way or ways to budget?"
- Look at different strategic partners? Their costs?
- To whom should you target and promote? Under People/Targeting, target audience within media falls here.
- What should you promote? Strategic copy points.
- Discounting? Special sales? What economic and discount levels should you offer? Look at revenue versus costs.
- What form or combination of promotion should you offer? Features?
- How frequent? Add media planning here.
- Partners:
- Also referred to as Alliances. Working with others and organizations which take part in an undertaking with another or others, in a business or company with shared risks and profits.
- With "Partners" and in Marketing, it is vitally important to partner with firms that have similar corporate philosophies, with agreed upon objectives and strategies.
- Presentation:
- The “P” or “Presentation” is the act of presenting, displaying and putting forward 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.
- Enabling consumers and “allowing” them to feel the brand. As part of "presentation," I also place “events and experiences” under Promotion.
- While traditional marketing is based on target audience impressions/ views/ clicks/ exposure, experimental marketing involves engaging with consumers.
- Passion:
- Those intense, driving or overmastering feelings, emotions in the planning, developing, pricing, promoting, partnering, selling and overall marketing of products or services.
With an improved economy, business people, families, students, grandparents, and others are traveling more.
Hotels have higher occupancy rates. Increasing pricing. Simply put more people are staying at hotels, For example, a 100-room hotel with 90 rooms occupied would have a 90% occupancy rate.
Remember how in the 90’s hotels differentiated themselves with free breakfasts, local calling and a free newspaper. Some Holiday Inns had signs on the road saying “Free HBO.” There is so much more to Marketing than a sign.
I teach Marketing and use a copyrighted concept named the Nine P's.
What are people looking for in a hotel? It’s more than the “core benefits;” problem-solving benefits of Rest/Sleep/Pool/Clean Room and Towels/Location/Quiet that the customer or customers seek when buying the product or service.
They are looking for so much more than location, location, location. But look at airport hotels which have easy access to the airport or special conference rooms for company employees flying in from all over.
Look at amenities at all hotels, with Internet or Wi-Fi access, hotel name, reward programs (points added to their accounts for example Hilton HHonors, Starwood’s Preferred Guests. Wyndham Rewards, Marriott Rewards and others).
Plus ironing board, pool, brand's reputation, TV with a good, working remote, Price (one of the Nine P's), special offers, value; quality, style; ratings of hotels from previous guests.
There is more to our list that I develop in class: Rest & Relaxation, in Promotion (hotels fight/battle over the claims of which ones have the best beds, sheets, etc.), fitness center, food, special promotional offers, convention services; pillow menu selection, white noise machine, candy, apples or cookie at check-in, and turn-down service.
One thing to look out for: resort fees...they are creeping up. Just saw that Palazzo and Venetian in Las Vegas are $45 a day. Add those fees are added to your room rate.
We discuss these in class and all the nine P's and about complaints.
Examples are: hotel parking fees can be expensive; resort fees; fee for a room key (just kidding); availability and the poor working order of the fitness center equipment; the printing out of an airline boarding pass can cost: $7.50; refrigerator; surcharges for phone calls; wireless access; roll away beds, up to $60; mini bar stocking; receiving faxes or packages; room service: (surcharge, delivery fee and mandatory gratuity; check out too early or too late fee; storing bags and wake up call.
In mid 2018, I am updating my list to include places to smoke pot and rooms to vape.
I found it interesting that the Benjamin Hotel in Manhattan is offering work-down calls. It’s the opposite of a "wake-up call." The guest arranges to have the concierge call at a specific time or times to remind the guest to go to bed and sleep. By the way the Benjamin’s rates for New Year's start at $400.
Need more business, Marketing or advertising insights?
Visit here for examples and insights into Marketing, the nine P's, targeting or "people," promotional and advertising strategies. Plus true, researched marketing insights and advertising trivia.
For the past 46 years, I have been a Marketing professional, a Forensic Marketing Expert, Marketing and Advertising consultant with Londre Marketing Consultants, LLC plus I teach Marketing, global Marketing and Advertising.
Ten years ago, I created and own a copyright for the Marketing concept, the Nine P’s/9 P's of Marketing ©2007, which augments the Marketing Mix (Product, Price, Promotion and Place) or, known as the "4P’s" by the American Marketing Association, Neil Borden and Jerome McCarthy in the study and practices of Marketing.
In the late 60's I was first taught In Marketing that the "customer," or potential purchasers, buyers are king or kings, but they are missing as one of the P's, in the 4P's. It's prominent and its own "P" in the 9P's of Marketing.
The Nine P's/9P's of Marketing help brand managers, companies, firms and business managers to find marketing problems and opportunities and to identify marketing opportunities, solutions, in a number of areas. The utilization of the 9P's of Marketing help, develop and guide a company or a firm's marketing objectives, strategies, tactics and solutions.
The Nine P's can be truly insightful, in many ways and in many possible actions.
I consult, teach and work as a Marketing, business and Advertising expert using many Marketing concepts and practices, including the Nine P's/9P's of Marketing.
So what is Marketing?
Marketing is a planning and execution process that involves a product or service's attributes, research, distribution, pricing, partnerships/alliances, promotion and more.
All of these activities must work together to assure successful marketing practices.
Firms, associations and companies with the most effective marketing efforts try to thoroughly understand their customers ("People") and the marketplace. Companies and new product/service development professionals create products and services to meet market needs. These firms and others use marketing research and channels for understanding and communicating to a target market or audience ("People" in the 9P's of Marketing).
In the study and practice of Marketing, Marketing manager and Brand agents develop objectives, strategies, planning and tactics.
The 9P's of Marketing include important components, elements, actions and efforts.
Let's start with targeting, "People," one of the nine elements or components. :
- People
- "People" or targeting has almost always been left out of the traditional "Marketing Mix." Almost every diagram includes the four P's with Product, Promotion, Place and Price.
- Look at new, existing and repeat customers.
- Place "consumer" or "People" or "potential buyers" in the middle of a circle. Add the other components in the nine P's. In Marketing, from my education, training, research and analysis plus testimony, there needs to be greater focus on the "Customer," or "People."
- "People" or market segments may utilize demographics, geographics, psychographics, behavioral characteristics and technographics, which may be a vital component or components of the 9P's of Marketing. Once a target market is chosen, the organization can develop its marketing strategies to target this market segment.
- Simply it's about Segmentation and Targeting. Add Positioning and you have STP, as a major first step.
- Planning:
- It starts with research and researching. This element of planning in the nine P's is a method for achieving an end, and, looking at the eight other parts, can be a detailed formulation of a program of action.
- Developing and transforming marketing objectives to marketing strategies to tactics, marketing management must make basic decisions on marketing targets (“People”), marketing mix, marketing budgets/expenditures and marketing allocations.
- Review dividing the total marketing budget among the various tools in the marketing mix and for the various products, channels, promotion, media and sales areas.
- Product and Services:
- A product (service) is anything that can be offered to a market for attention, acquisition, use or consumption that might satisfy a want or need.
- The goods and service combination the firm offers to the target market, including variety of product mix, features, branding, designs, packaging, sizes, services, maintenance contracts, warranties and return policies.
- Place (Distribution):
- Offering the right product at the right PLACE, at the right time, at the right price. It's the company’s activities that make the product available, using distribution and trade channels, roles, coverage, assortments, locations, inventory and transportation characteristics and alternatives.
- Considering, developing and reviewing store and non-store, e-commerce and “brick and mortar” factors, considerations, objectives, strategies and tactics, including “Partners.”
- Price:
- Simply, all aspects regarding pricing.
- “Pricing” is the sum of the values that customers exchange for the benefits of having or using the product or service.
- The amount of money a consumer is willing to pay to obtain the product. Pricing includes wholesale/retail/promotional prices, discounts, trade-in allowances, quantity discounts, credit terms, sales and payment periods and credit terms.
- Pricing decision making also involves adjusting prices concerning the competitive environment, economic situations and involve buyer perceptions.
- Promotion:
- Eight (8) major, strategic components: The communication elements include personal and non-personal communication activities.
- The activities that communicate the merits of the overall product, which 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: There's an expression "It is only creative if it sells." I wanted to add "It is only good media spending if it sells."
- 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/PR
- Here are more strategic questions under Promotion, for hotels::
- Evaluate the eight elements and your practices and ask is there a better way?
- What are your costs in dollars and manpower or person power and ask "Is there a different way or ways?"
- Look at different partners? Their costs?
- To whom should you promote? Under People/Targeting, target audience falls here.
- What should you promote?
- Discounting? Sales? What economic and discount levels should you offer? Look at revenue versus costs.
- What form of promotion should you offer? Features?
- How frequent? Add media planning here.
- Partners:
- Also referred to as Alliances. Working with others and organizations which take part in an undertaking with another or others, in a business or company with shared risks and profits.
- With "Partners" and in Marketing, it is vitally important to partner with firms that have similar corporate philosophies, with agreed upon objectives and strategies.
- Presentation:
- The “P” or “Presentation” is the act of presenting, displaying and putting forward 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.
- Enabling consumers and “allowing” them to feel the brand. As part of "presentation," I also place “events and experiences” under Promotion.
- While traditional marketing is based on target audience impressions/ views/ clicks/ exposure, experimental marketing involves engaging with consumers.
- Passion:
- Those intense, driving or overmastering feelings, emotions in the planning, developing, pricing, promoting, partnering, selling and overall marketing of products or services.
