Mastering the new (e) five P &

For many types of MBA, it's probably pretty easy to get rid of 5 P-marketing, right? Just take a ride on your way back to the gradient school and spit out the following: Product, Price, Packaging, Location and Promotion.

Not bad.

But in today's business and consumer environment, relying on the traditional 5 P, you do not put you and your brand in the circle of the winner. Today, you need to start breaking through and find ways to develop communications that immerse deer in the way your target segments interact with each other, as well as with your brand.

It was twelve years ago when I first met the new set of 5 P & P products for marketing my boss Tom Patty (President, World Wide Nissan Director for TBWA / Chiat Day). At that time it was pretty frank. It was a lesson that has been stuck with me since then, and one that is applicable today, as it was in 1997 - and now is worth sharing.

So get ready. Here are your newer, non-traditional marketing P & Ps, which are more abstract and conceptual than their older brothers. They are:

- Paradox
- Perspective
- Paradigm
- Persuasion
- Passion

The old 5 Ps were based on a world dominated by stability, a fast-growing economy and a much less competitive environment. Our new 5P suite will help us succeed in a world where chaos has replaced stability, where the fast-growing economy has slowed, and the global competitive environment requires even greater innovations in efficiency and effectiveness.

1.) Paradox:
The most interesting thing about paradox is that paradox always contains an opportunity. To cope with the paradox, you first need to find or identify this opportunity, and then use the paradox. Successful examples that should be considered are “Tastes are big, less filling” or “Affordable luxury car”.

2.) Perspective:
This includes the ability to see things in their proper relationship to each other. Here you need to get away from what and how the company / brand views the market and the consumer. On the contrary, you need to take into account and really care about “what does a consumer need in my product or service?” And “How does he satisfy differently and better than competitors?”

To become a winner instead of a victim, you need a lot of time and energy to answer these questions. And not once a year, but every day!

3.) Paradigm:
The most important point for understanding the Paradigm is that when the paradigm changes, everything returns to zero. What does it mean? This means that everything that made you successful in the old paradigm may not even exist or be necessary in the new paradigm.

To cope with Paradigm, you must be able to identify the paradigm shifts that are occurring around you, and position your brand accordingly.

4.) Persuasion:
As professionals in marketing and advertising, we are all in the business of persuasion. You know, encouraging people to think or do something. To master a Persuasion, you must understand the three essential components of trying to convince:
- You must have a reliable speaker
- You must have relevant content.
- You must appeal to the main emotional disks of the audience

5.) Passion:
In the old world of marketing and the traditional 5 P, passion is not so important. Actually it was probably negative. Then you left your passions at home when we went to work. Remember that “work” used to be the place where you went, not what you did. In today's new world order, work must not be just a place where you go, and passion must be something that you take with you — wherever you go.

It is clear that we have already moved to a new paradigm, in which we have unique individual products designed for specific needs and requirements. In addition, the consumer now has an amazing compliment of choice in all categories and he can get information about any subject in a few seconds by a simple Google search.

As a result, now, more than ever, advertising should create exciting, stimulating dialogues with consumers, intended not only for sales, but also for creating relationships.

So the question remains: “Will you still count on the old 5 P to do this work?” Or are you ready for something new (er)?

If you want to learn more about Newer P & P marketing, you can contact us at the Union Square advertising space.