Embarking on my marketing journey at university, I learnt about the 4 Ps of marketing. However, since I left the classroom, I've found a disproportionate focus on promotion over the other Ps.
The 4 Ps are fundamental to any marketing strategy and explain the core concept of what marketers do. Any marketer worth their salt should know:
Product Price Place PromotionHowever, as important as promotion - or marketing communications - may be, in their book ‘How Not to Plan’, Les Binet and Sarah Carter explain that econometrics consistently show that the effects of the other three Ps are as important for sales and profit. Without the right product, at the right price and distributed in the right places, it makes our jobs as marketers very difficult to promote.
Binet and Carter’s book reaffirmed the importance of these three Ps in my mind and gave me…