Do you need examples of strengthening your pillars of your brand
strategy? Branding?
I consult, teach and work as a Marketing, Business and Advertising expert
using many Marketing concepts, standards of practice and practices, including
the Nine
P's/9P's of Marketing in court.
As a brand manager, entrepreneur, business owner or advertising agency
professional, do you need more business, Marketing and advertising
insights? It won't be easy getting the economy and sales back.
Visit
here for plenty of insights into Marketing.
The 9P's is a framework I created while working, teaching and consulting.
The nine P's include targeting or "People," planning, product and
services, promotion, pricing, partnership strategies, "Place,"
Passion and Presentation. Plus true, researched marketing
insights and fun, insightful, advertising trivia.
For the past 48 years, I have been a Marketing professional, a certified, credentialed Forensic Litigation
consultant (CFLC), a Marketing and Advertising consultant with Londre
Marketing Consultants, LLC plus I teach and give seminars on
Strategic Marketing, the nine P's of Marketing, Branding, Super Bowl spots,
Global Marketing, Promotion and Advertising.
I also give and present to MBA candidates, law schools and attorneys my
"What is Marketing? What is Advertising?" lecture and talk. I
have plenty of examples. This semester I presented at Loyola Law School,
Pepperdine University and Woodbury University.
Twelve years ago, I created and developed the marketing objectives,
strategies and tactics using the practice of the 9P's of Marketing. The Nine
P’s/9 P's of Marketing ©2007 augments the Marketing Mix or the 4P's
(Product, Price, Promotion and Place) by the American Marketing Association,
Neil Borden and Jerome McCarthy in the study and practices of a copyrighted
Marketing concept. I've added the important components of "People,"
"Passion," "Planning" and "Partners" and
"Presentation."
In the late 60's I was first taught in Marketing 307 at USC that the
"customer," or potential purchasers, buyers are king or kings, but
potential consumers are missing as one of the P's. I started teaching
Marketing and Advertising in 1975. I developed and added
"People;" I expanded and developed the additional concepts under
the nine P's.
For marketing professionals, targeting or the "target market,"
"People," buyers, potential users and buyers are more prominent in
my Marketing model, theory and practice. These potential buyers have their
own "P." It's "People," in the 9P's of Marketing.
Marketing is considered
an expense and especially at the middle and end of this year. It's being cut
and was one of the first line items cut by companies when they are facing
difficulties in the marketplace and tightening budgets. The Coronavirus
changed everything.
The utilization of the 9P's of Marketing helps, develops and guides 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
tactics and actions.
They will help build revenue, manage costs, more effectively.
So, you and others may ask "What is
Marketing?"
Marketing is a planning and execution process that involves a product or
service's key attributes, research, distribution, pricing, partnerships or
alliances, promotion and more.
In my Marketing presentations and talks, I detail that advertising is only a
small percentage of the answers to marketing problems. All of the Marketing
activities and tasks must work together to assure successful marketing
practices. Companies, firms and associations with the most effective
marketing efforts try to thoroughly understand their potential purchasers,
buyers and customers ("People") in your marketplace.
Companies and new product/service development pros create products and
services to meet market needs. Solving consumer "problems."
These firms and others use marketing research and channels for understanding
and communicating to market segments, a target market or audience
("People" in the 9P's of Marketing).
In the study and practice of Marketing, Marketing managers and brand
agents develop planning, objectives, strategies and tactics.
For any size firm and entrepreneurs, the 9P's of Marketing include important
components, parts, elements, actions, tactics and efforts.
Let's start with planning, research, one of the nine P's and also with
targeting, "People," one of the other nine elements or components:
- Planning as in Marketing Planning and
Research:
- Planning starts with researching and research.
With the Coronavirus we have seen distribution and inventory
issues.
- This element of planning in the nine P's is a
method for achieving an end, and, looking at the eight other
parts; your insights can start a detailed formulation of a program of
action. I like using a phrase Benjamin Franklin supposedly once said:“If you fail
to plan, you are planning to fail.”
o
Look
at developing and transforming marketing objectives into marketing strategies
to tactics.
o
Marketing
management and managers must make basic decisions on marketing targets
(“People”), marketing mix, pricing, distribution, 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. And there's more
under the other 9Ps of Marketing
- 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.
- Place "consumer" or
"People" or "potential buyers" in the middle of a
circle. Find information or data on them. 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
buyer, "customer," or "People," in both planning ad
implementation.
- Look and analyze your potential, new, existing
and repeat customers and users.
- To understand your "People" or your
market segments, you may need to utilize many characteristics,
including:
- Demographics (such as age, family size,
family life cycle, gender, income, occupation, education, religion,
race, generation, nationality, social class (is also sometimes put
under psychographics.)
- Geographics (By region, city, metro size, density,
climate; plus, by countries and territories.)
- Psychographics (Social class--Lower lowers to Upper uppers.
Social class is also under demographics; Lifestyle-- achievers,
strivers, and strugglers; Personality-- Compulsive, gregarious,
authoritarian, and ambitious; Lifestyles/Attitudes/Interests and
Opinions)
- Behavioral (Occasions (regular occasions, special
occasions, holidays, vacations); Orange juice for breakfast, Mother’s
Day, Father’s Day; Benefits (quality, service, economy, convenience,
speed---Quality, Time, Money); User status (nonuser, ex-user,
potential user, first-time user, regular user); Usage rate (light,
medium, heavy user); Loyalty status (none, medium, strong, absolute);
Readiness attitude toward product (aware, interest, desire, intending
to buy); Attitude toward product (enthusiastic, positive, indifferent,
negative, hostile).
- Technographics or technographical
characteristics. Understand your potential consumer. Remember, in the
back of your mind, that the reason technology is phenomenal is because
it displaces years, or centuries, of previous technology. Consumers
may or may not have the skills. Think employees here too. The reason
technology skills are transitory is because they will almost certainly
be displaced, too. Think employees here too, 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 a market
segment or marketing segments.
- Simply it's about Segmentation and Targeting.
Add Positioning and you have STP, as a major first or second step, which
may need for your firm to do more research and planning. .
- Product and Services:
- It's 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.
- It's 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):
- Consider, develop and review store and
non-store options, e-commerce and “brick and mortar” factors,
geographic considerations, objectives, strategies and tactics,
including with your “Partners, too.”
- It's your offering of the right product at the
right PLACE or location, 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.
- Price or Pricing:
- Simply it's the amount of money a consumer is
willing to pay to obtain the product. But "price" is so
much more. “Pricing” is the sum of the values that customers
exchange for the benefits of having or using the product or
service.
- Pricing decision making involves adjusting
prices concerning the competitive environment, economic situations and
involve buyer perceptions. Simply, all aspects regarding pricing.
- Pricing or "Price" also includes
wholesale/retail/promotional prices, discounts, trade-in allowances,
quantity discounts, credit terms, sales and payment periods and credit
terms.
- Promotion:
- I teach and consult that there are eight (8)
major, strategic components or communication elements which are
personal and non-personal communication activities, under
"promotion."
- The activities that communicate the merits of
the overall product include:
- Personal Selling/ Sales Force: Sales persons.
Your sales force.
- Helpful consulting tip or hint: Listen more
than you talk. People who listen more, learn more, plus helps you
position your service/product/solution or offering.
- From the legendary movie Glengarry
Glen Ross of '92: “A-B-C. A-Always, B-Be, C-Closing.
Always be closing.”
- Advertising is paid media. There's an
expression "It is only creative if the product or service
sells." I wanted to add "It is only good media spending if
it sells." People used to plan their lives around TV,
now they plan television around their lives.
- 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
- What some strategic questions under
Promotion?
- What should your company promote? Strategic
copy points, for your product or service.
- Evaluate the eight different elements under
Promotion and your brand's practices. Ask is there a better
way? A different promotional mix. There has to be a better way.
- What are your costs in dollars and manpower
or person power? Ask "Is there a different way or ways to
budget, your promotional dollars?"
- Look at different strategic partners? Their
costs?
- To whom should you target and promote? Under
"People/"Targeting, target market, audience with media falls
here. Have you noticed that you may watch what you want to watch
in TV programming when you want to watch it and anywhere, any screen?
That affects media planning.
- You can differentiate with
price. 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
concern.
- Partners:
- 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. Also referred to as
Alliances.
- With "Partners" and your Marketing
efforts, it is vitally important to partner and align with firms that
have similar corporate philosophies. Simple but complex and difficult,
have agreed upon objectives and strategies.
- Presentation:
- Be sure to look for "real” product and
service experiences.
- This “P” or “Presentation” is the act of
displaying, using, presenting, and putting forward any of your efforts
utilizing the other 9P’s© and/or components to your customers,
suppliers, wholesalers, retailers, sales force, marketing
intermediaries, clients, employees, partners, and/or others.
- This "P" helps you enable 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 your potential consumers.
- Passion:
- This "P" are those intense, driving
or overmastering feelings, emotions in the planning, developing,
implementing and executions of pricing, promoting, partnering, selling
and overall marketing of products or services.
For more on
insights, ideas, concepts and Marketing solutions: Go to londremarketing.com and look under “Articles and Resources” and the 9P’s/Nine P’s ©2007.
Specifically you will find them detailed at 9P’s/Nine P’s.
Or for more fun, marketing strategies/tactics and facts: Go to Marketing
Trivia with 40+ stimulating questions and answers at Londre
Marketing Consultants, LLC.
|