I had asked a question on LinkedIn regarding the redefinition of 4Ps of Marketing for Web and Social Web. Got some great responses from several people not connected with me on LinkedIn, but couldn't choose a "best". :) This post is a set of my notes from all the interesting answers I got.
I wouldn't claim that I have the final answer but I did certainly get more clarity by studying the various thoughts shared by professionals on LinkedIn.
I proposed 7Ps for Web and Social Web Marketing by adding Personalization , Participation, and Peer-to-Peer. The existing 4P's (Product, Price, Place, Promotion) as one person pointed out " define the landscape of marketing from product creation through monetization". Various people proposed 3-4 E's or other such constructs that I could associate with the 3 existing P's -- Place, Product and Promotion.
So what I came out with was not more P's or E's but dimensions that are critical to the existing P's in the new world of Web / Social Web marketing. Most associations came for Place:
Place
- Interaction, Control, Continuity, Engagement, Experience, Usability, Trust, Proof
Product
- Interaction, Control, Engagement, Experiences, Usability, Proof, Viral
- I would add Evolution (at a faster pace) of the Product and the Place than traditional Product development and Channel evolution.
Promotion
- Permission, Viral
Here is the question I had asked on LinkedIn:
For a long time, I have been looking for alternatives to / redefinitions of 4Ps (Product, Price, Place, Promotion) for Web and Social Web Marketing. Although some folks have come up with the 3 New Ps for Web -- Personalization , Participation, and Peer-to-Peer -- I am not quite sure that these are as rock solid as the 4Ps that served marketers for a long time. The 4C framework (Customer, Cost, Convenience, Communication) is also not as actionable -- Cost is very limited a word, consumers are interested in Value (Benefit - Cost).
Have you found an actionable and close to bullet-proof framework for web and social web marketing? I have put longer thoughts on my blog Redefining 4 P's of Marketing and 3 New P's of Web Marketing
I will continue to refine my thinking and share my thoughts. If you can capture an elegant framework from all this discussion please share and join the conversation!
