Paradigm shift in the Marketing Mix – 4P’s out 4E’s in

Rarely you will come across a marketing professional who is not aware of the 4P’s of Marketing. These P’s were first coined by Jerome McCarthy in 1960. But this was made famous by an American professor known as Dr. Philip Kotler in his book “Principles of Marketing”. I personally have one copy of 2009 edition and for me, it is one my favorite books in marketing.

Before I share what the new 4 E’s of marketing  are let me first throw some light on our traditional 4 P’s of marketing:

  1. Product : A product can be either a tangible good or an intangible service that fulfills the need of the customer.
  2. Price: The price determination will impact the profit margin, costing, supply and demand.
  3. Promotion: Sharing relevant product / service information to consumers.
  4. Place: An ideal location to sell the product that will convert potential customers to customers.

Here is an example of traditional Marketing Mix:

Traditional Marketing Mix
4 P’s of Marketing

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Cadbury Perk and Nestle Munch in race to be the market leader

It is not because of its marketing but because of its confused state. The chocolate industry in India was valued at INR 58bn (USD 966mn) in FY 2014,  and has been growing at a CAGR of 15% over the last three years. Two brands that have given stiff competition to each other to gain maximum market share are Cadbury Perk and  Nestle Munch , both the brands fall in the range of Rs. 5 to Rs 20. Over the years Munch has positioned itself as a lightweight wafer chocolate whereas Perk has positioned itself as chocolate with glucose energy.Read More »