4P Plus 3: The New Marketing Fundamentals
Marketing Mondays with Marci B.

Marketing and advertising are terms that get easily confused or misunderstood.Advertising is an element of marketing, but it does not encompass how broad marketing can be.A common mistake is developing a marketing plan that only consists of advertising. A true marketing strategy impacts many departments including product development, research, sales, customer service, operations and more.
Traditionally, the marketing fundamentals that create a marketing mix are price, product, place and promotion. Over the years, as business and marketing have both evolved due to technology, marketing fundamentals have expanded to include three more elements. People, Process and Physical Evidence were added to benefit service industries, but these elements should be considered in any marketing strategy for thorough planning.
Price
- Premium
- Penetration
- Economy
- Psychological
- Define Business Goals
- Consider Market Opportunities
- Analyze Audience Pain Points
- Monetize Solutions
- Retail
- Online
- Trade Shows
- Wholesale
- Digital
- Traditional
- Events
- Sponsorships
- Roles
- Culture
- Relationship Building
- Social Responsibility
- Training
- Workflow
- Customer Service
- Scaling
- Samples
- Testimonials
- Facilities
- Employee Dress Code
For more information on developing a marketing strategy, please contact Marci B. Marketing & Management at 248-838-9458 or marci@marcibmarketing.com
Further reading:
http://smallbusiness.chron.com/different-types-pricing-strategy-4688.html
http://www.romanpichler.com/blog/elements-definition-product-strategy/
http://community.uservoice.com/blog/how-to-distinguish-between-your-product-roadmap-product-strategy...
http://www.professionalacademy.com/blogs-and-advice/marketing-theories---the-marketing-mix---from-4-...
http://www.smartinsights.com/marketing-planning/marketing-models/how-to-use-the-7ps-marketing-mix/
http://marketingmix.co.uk/
http://www.marketingteacher.com/marketing-mix-4ps-and-7ps/
https://www.cleverism.com/7ps-additional-aspects-marketing-mix/






