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The 4Ps is a concept originally coined in the 1960s by E.J. McCarthy. In short, if you have the right Product, in the right Place, at the right Price, supported by the right Promotion, you will likely have the right marketing mix in place to be successful. It’s an idea that is still taught in many marketing classes and continues to have traction in certain marketing circles. However, in the Age of Now this model seems out of touch with the expectations of empowered consumers. In turn, we are seeing the traditional 4Ps give way to a new set: Purpose, Passion, Participation, and Profit...
Via Jeff Domansky
Very interesting (and highly relevant to the helping professions such as coaching...) move from the original 4Ps of marketing (the right Product, in the right Place, at the right Price, supported by the right Promotion) to the new 4Ps:
Purpose (what your business stands for),
Passion (all about leveraging the power of your people to build your brand, see Empowerment...),
Participation (companies are looking for partners with the same values whom they can work with to make a difference and further their reach)
Profit (self-explanatory...)
Now, this is not a gobbledygook, these are real elements and here also appears the unavoidable need for a passionate, involved, engaged, aligned and empowered staff... do you understand the importance of this? It is a free advertisement for the helping professions, guys...
Great insights on marketing that might make the whole concept seem less foreign to nonprofits.
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