Here's a controversial article from Fast Company claiming that three of the classic 4 P's of marketing are dead. Oops, just when my students memorized them! According to the author only product matters in today's world. Place is irrelevant with e-commerce, many companies have succeeded with little or no promotion, and pricing is now transparent and driven by market forces. Well, I guess that's going to make it easier for me to teach Principles of Marketing.
Like most grand pronouncements, this one has some validity but limited applicability. Not every company is a pure-play, technology startup with a unique product developed by brilliant programmers working 23 hours a day. Some people are still opening pizzerias, bars, accounting firms, or trying to get established as independent consultants. Do they need to focus on all 4 P's? You bet they do.
Why Do B-Schools Still Teach The Famed 4P's Of Marketing, When Three Are Dead? | Co. Design.
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