This is a two question is based on reading the PDF screenshot posted below (\"Th

Question

This is a two question is based on reading the PDF screenshot posted below ("The 4Es not the 4Ps")

Question #1 -- Are the 4 Ps outdated as they relate to consumer behavior in 2017? Please support your position with examples.

Question #2 -- Please provide a business that is doing a great job following the 4Es, and also a business that is doing a bad job and may still be thinking like a 4 Ps organization?

THE APS ARE OUT, THE 4Es ARE IN By Brian Fetherstonhaugh If there has ever been a time for change in marketing, this is it MANY OF US GREW UP with the Four Ps of Marketing: Product-Place, Price and Promotion Do you know when the Four Ps ofMarketing were invented? In 1960, by Jerome They were made leading-edge by Philip Kotler in his book Principles of Marketing in 196 The Four Ps thrived in a different world. It was a wonderful fantasy world. Marketers were king. Product differences lasted. Big, obedient audiences could be reached with big, efficient media. What is the world of marketing today? The consumer has seized control Audiences have shattered into fiagments and slices. Product differences cn last miutes, not years. The new ecosystem is mllions and billions of unstructured one-to-one and peer-to-peer conversations. Marketing is in the hot seat. So many of the tools and assumptions we grew up with are no longer valid Many marketing leaders around the world got promoted into their jobs because they did two great product launches and three great TVcampaigns, and figured out how to work with a few major retailers According to a recent shudy by Spencer Shiart, the average temure ofa CMO is less than 24 months. And only 14 percent of CMOs have been in the positions with the sae company for more than three years. A CMO Council 2007 report conchudes that only one-third of board members are satisfi ed that thei marketing leaders can explain the ROI of marketing. We need a new framework. And a new tool kit. For starters, we need to throw away the Four Ps and embracc the Four Es:

Explanation / Answer

Question #1 -- Are the 4 Ps outdated as they relate to consumer behavior in 2017? Please support your position with examples.

Business strategies along with marketing strategies and marketing mix changes and adapts with the present consumer scenario that helps the industry attain better performance through enhanced profitability, which can only be possible when the business understands its consumers better and sooner. In 2017 every industry is striving for a dynamic change in its approach may it be electronics or apparel and how well it might seem that this is the need of the hour. Talking about the 4E’s of marketing, it can be better justified as an enhanced version of 4P’s with much more qualitative and aptitude best insight which ultimately creates value for the business as well as for the customer. It can be a matter of debate rather than a clear answer if the 4P’s are outdated or not, it is in the nature of an evolving business scenarios that every resource may it be qualitative should and will be explored up to its full potential. 4E’s: Experience, Everyplace, Exchange, Evangelism or the new 4E’s are undoubtedly much more intuitive as well as asks more from the marketing department to raise the stakes and introduce more engagement in the business.

It can also be said that when working with 4Ps there were certain constraints at play which hindered the progress, for example individually categorising market places or places in today’s digital ecommerce could not be justified and product promotion per say is surely outdated concept with the advent of digital product promotion and engagement.

Question #2 -- Please provide a business that is doing a great job following the 4Es, and also a business that is doing a bad job and may still be thinking like a 4 Ps organization?

SME’s as well as larger organizations such as e-commerce giant Amazon are giving much more attention towards the 4e’s concept and extending their services with greater focus on the product and customer experience factor. All in all e-commerce industry has greater potential in terms of their performance upgrade with respect to the ecosystem catered through 4E’s adoption.

Any business that fails to understand the value of the customers that could contribute for their product is susceptible to fail. Marketing mix is a tool that can be promising only when all the fragments are understood as according to their implementation.

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