From the Marketing Mix of the 4Ps to the 4e of Omnichannel Marketing

Let's forget the 4Ps of classic marketing and welcome the 4Es.

For those who have studied Marketing at University or have read in-depth books, they know the concept of the 4Ps of the marketing mix well, but considering that the world and the ways of doing business have changed considerably in the last 20 years, marketing experts have identified a real change in the strategy to be adopted in terms of business, moving from the 4Ps to the new 4Es.

Let's find out together what the change is, going back briefly to describing the 4Ps and then describing the new 4Es in detail.

The classic 4Ps of the Marketing Mix

It was 1960 when Edmund Jerome McCarty, an American professor of marketing, published the book Basic Marketing: A Managerial Approach in which he exposed for the first time the theory of the 4Ps of the marketing mix.

The 4Ps were as follows: Product, Price, Place, Promotion.
These were the 4 most important elements to reflect on and to take into account when doing business.

A concept to internalize

The world has changed. Several generations have passed since the 60s, GenX, GenY, GenZ, the Millenials and soon the Alpha Generation will influence purchases. Epochal changes have been recorded with each generation, slowly every marketing paradigm has been transformed. Needs, loyalty criteria, product ideas, purchasing methods and much more have changed.

People no longer buy the product, they buy its soul, its why.

Customers of the future will acquire more and more experiences and emotions . We'll have to change our approach and start asking ourselves what emotion I offer my client when they choose my product . Emotional branding will be an essential element of the product itself, and will distinguish the image of a company more than anything else.

Did you already notice that:

You no longer need to have the best product. The important thing is that it is perceived as better, also thanks to support services, perhaps free of charge.

The most successful brands offer not just physical products or services, but great experiences . Emotions, an interesting story that explains why that product (the soul) was born. Companies must offer something to talk about and tell friends about.

Even a simple product, today, can become a real status symbol.

If you don't believe the statement made, think of some coffee brands in particular and reflect on the fact of how a very banal pod with a few grams of coffee can have become so "important" and decisive for a certain type of person in elevating their social class. It's not thanks to a pod that you become important, of course :) but also thanks to a pod you can affirm or confirm that you belong to a specific economic bracket.

In this sense, I suggest you read the book by Simon Sinek entitled Start with why. You can buy it on Amazon .

The new 4Es of the Marketing Mix

Brian Fetherstonhaugh, Global CEO of OgilvyOne, was the originator of the concept of the new 4Es of the Marketing mix, presenting it as an update of the old 4Ps.

EXPERIENCE

If in the 4Ps the Product was the main element, in the Marketing mix of the new millennium it is the Experience that takes its place. In the past, customer attention was gained by showcasing product features , enhancing potential, compatibility, quality, etc. This approach is losing its appeal because it has been used excessively over the years (often hiding product defects and promoting "half-truths/lies"). This generated disappointment in buyers, expectations were always very high. If a company promises, then it must keep its word.

For all these reasons and perhaps for others as well, the Product has lost its crucial role, set aside by the Experience , which ultimately really manages to involve potential customers and attract them to even an unknown brand. The first strategic step is: to create emotions, positive sensations. The customer must have a feeling for the product, creating an emotional bond with the brand .


EXCHANGE

The second P was the Price, and it certainly cannot be said that the price has no strategic importance in the globalized world, full of personalized offers and discounts. However, it is important to understand how the consumer has evolved and changed his way of seeing the exchange of money for the purchase of a good.

The consumer no longer buys exclusively out of necessity but often only out of desire. This results in a different importance given to money and price. It's no longer a question of spending as little as possible for a product that I need but of spending as little as possible for a product that I admire, want or need because it offers me an emotion or a status symbol.

I buy a product that offers me “value”. The more added value the product I want to buy has, the less important the price at which I can buy it becomes.

Value is something the customer gets, in addition to the product, after making the purchase. If a company wants to intercept today's customers, it must create added value for its products. For this reason, in the new marketing strategy the Price becomes Exchange of value between company and customer.


EVERYPLACE

The digital world has greatly transformed the universe of purchases. Once it was essential to get the products to many physical points of sale, now thanks to e-commerce it is no longer strictly necessary, and in fact many intermediation jobs have disappeared.

The customer can buy from anywhere, at any time and at any time (ecommerce is open 24 hours a day, even on public holidays). That's why the third P of Place (distribution) becomes Everyplace (everywhere). Beyond any physical border, beyond any wall given by language, distance or physical availability.

Important: Everyplace's strategy must also translate into omnipresence on social media, as well as correct online communication with a responsive web portal (easy to use on mobile). In this way, potential customers can be engaged more easily, using more sales channels.
 

EVANGELISM

The fourth and last P was Promotion, still fundamental in a winning marketing strategy. But even in this case, it is important to reflect on how advertising has evolved and what it has become today.

In the globalized and digital world, promotion is no longer one-way but multi-channel, involving the consumer at 360° . This means, for example, that a user will have to find the same type of promotion (corporate image) on the website, on social channels, in physical stores, on the Google search engine (taking advantage of Google AdWords), on Bing, etc.

Marketing today means communicating with users using any type of channel and globally, 24 hours a day, even in multi-language.

To make this happen, it is up to the company to find interesting topics to talk about, perhaps even using Influencers .

The company therefore, rather than praising its talents, must strive to satisfy customers to the point of leading them to spontaneously recommend products (word of mouth). In this way, consumers are transformed into brand testimonials, fueling the brand's reputation.

Take care of your customers to the point of transforming them into an ambassador of your brand (an Evangelist).

If your customer truly believes in you, has full faith in your products and embraces the soul of your products, including the production choices you make or the company mission, you will have found an ally who will defend your brand to the hilt! That customer will be an evangelist of your brand , they may not buy any of your products again in the years to come, but they will certainly be able to push new customers to choose your brand.

The company must ensure that it becomes one of the customer's reference points . The motivation can be of various kinds: ecological, technological, passionate, innovative, etc. It's up to you to find the path-to-success, the ideal corporate mission that will allow you to create an emotional bond with your future customers.