Marketing Mix
The personalised marketplace: beyond the 4Ps
Ronald E. Goldsmith Professor of Marketing, College of Business, Florida State University, Tallahasee, Florida, USA
Keywords
At the heart of most presentations of marketing management lies the time-honored concept of the 4Ps ± product, price, promotion, and place ± the Marketing Mix ± that Abstract summarise key decision responsibilities of Theories of marketing management and strategy need to evolve marketing managers (e.g. McDonald and and change to keep pace with Roberts, 1992). First formulated over 20 years changes in the marketplace and in ago by McCarthy (1975) as a pedagogical tool, marketing practice. As the next the concept of the 4Ps represents a parsimocentury draws closer, it is apparnious and comprehensive way to describe the ent that some marketing managers are basing their chief tasks of marketing managers. After relationships with customers on selecting a target market, marketing manpolicies and procedures called agers must develop a systematic plan to sell either ``individualisation ' ', ``massto these customers and create long-term customisation ' ', or as we prefer, ``personalisation ' '. The core of this relationships (Doyle, 1995). The marketing practice involves tailoring goods plan consists of decisions about product, and services to the individual price, promotion, and distribution. These are needs and wants of specific conthe major decision areas where marketing sumers, just the opposite of onesize-fits-all. We propose that permanagers allocate scarce corporate resources sonalisation is so important to to achieve their sales and profit goals. Little marketing strategy that it should has changed in this presentation since become one of the featured eleMcCarthy 's original statement. Most marments of the marketing mix, alongside product, price, promoketing texts still feature the 4Ps as the tion, place, personnel, physical central, coordinating concept around which assets, and procedures,
Ronald E. Goldsmith Professor of Marketing, College of Business, Florida State University, Tallahasee, Florida, USA
Keywords
At the heart of most presentations of marketing management lies the time-honored concept of the 4Ps ± product, price, promotion, and place ± the Marketing Mix ± that Abstract summarise key decision responsibilities of Theories of marketing management and strategy need to evolve marketing managers (e.g. McDonald and and change to keep pace with Roberts, 1992). First formulated over 20 years changes in the marketplace and in ago by McCarthy (1975) as a pedagogical tool, marketing practice. As the next the concept of the 4Ps represents a parsimocentury draws closer, it is apparnious and comprehensive way to describe the ent that some marketing managers are basing their chief tasks of marketing managers. After relationships with customers on selecting a target market, marketing manpolicies and procedures called agers must develop a systematic plan to sell either ``individualisation ' ', ``massto these customers and create long-term customisation ' ', or as we prefer, ``personalisation ' '. The core of this relationships (Doyle, 1995). The marketing practice involves tailoring goods plan consists of decisions about product, and services to the individual price, promotion, and distribution. These are needs and wants of specific conthe major decision areas where marketing sumers, just the opposite of onesize-fits-all. We propose that permanagers allocate scarce corporate resources sonalisation is so important to to achieve their sales and profit goals. Little marketing strategy that it should has changed in this presentation since become one of the featured eleMcCarthy 's original statement. Most marments of the marketing mix, alongside product, price, promoketing texts still feature the 4Ps as the tion, place, personnel, physical central, coordinating concept around which assets, and procedures,
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