The Missing Piece in the Four P’s of Marketing | Lisa Nirell

The Missing Piece in the Four P’s of Marketing | Lisa Nirell

http://www.energizegrowth.com/

Give Your Marketing Plan a Facelift

Marketing planning is ostensibly simple, and everyone seems to have an opinion about how Marketing should run. If that’s true, then why do so many growth initiatives fail?

I have worked with B2B companies and deployed dozens of growth initiatives over the past three decades. I’ve worked with SHARP PEOPLE. And yet, they wasted thousands, often millions, on projects that never achieve the returns they expected.

E.J. McCarthy, a marketing professor at Michigan State University, introduced the concept of the “Four Ps” of marketing in 1960. He promoted it as a way to guide the marketing mix. These Four Ps—Product, Place, Price, and Promotion–are the blueprint for many marketing organizations.

Many of you may be revving up your growth machine. I encourage you to avoid relying exclusively on the Four Ps as your guidelines. Here’s why.

A recent client of mine, the VP of Strategy for a $4 billion software firm, continued to struggle with implementing new messaging playbooks to their global sales teams. The VP could not figure out why people did not use these costly, detailed tools. And the Four P’s would not help him find the root cause of the resistance.

Poor adoption of these great messaging tools prompted me to re-examine the traditional “Four P’s” The new model needs to look at your organization’s Mindset.

You must have a system for taming the limiting beliefs that stop your marketing from succeeding. The best laid plans fail when leaders ignore the existing beliefs and attitudes that will cause resistance and sabotage. That was the real cause of resistance at that software company.

Marketing the right products, in the right place, at the right price, at promoting them to the right people are still essential disciplines. Managing your mindset around your marketing planning deserves the same focus.

Now is the time to give your marketing blueprint a facelift.

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