There was an interesting article in Marketing Week recently about battery makers Duracell, who have been rethinking the 7 Ps of Marketing in relation to their business. Following a purchase by Warren Buffett’s Berkshire Hathaway in 2016 from FMCG giant P&G, they are now looking to approach their marketing a little differently.
Rather than the traditional 7 Ps: Product, Place, Promotion, People, Process, Price and Physical Evidence, Tatiana Jouanneau, Duracell’s international CMO, refers to: Passion, Profit, Politics, Planet, People and Point of difference.
This really resonated for me as I like to reference the Triple Bottom Line approach, which encourages businesses to measure performance based on a wider definition of success beyond the typical financials and Profit, to think about how they develop their People and have an impact on the Planet.
The Get Fruitful Marketing methodology also features a number of Ps – 20 in fact – as we take an even deeper approach looking at your: Passion, Purpose, Principles, People, Psychographics, Personas, Pedigree, Proof, Perspective, Problems, Pains, Pleasure, Place in the market, Process, Potential, Personality, Pricing, Presentation, Promise and Pitch.
These are all explained in Get Fruitful – The Playbook, along with an exercise you can complete to apply each concept to your specific business. As you give consideration to each of the P’s you will develop your brand and marketing strategy.
Which are the Ps that are most important for you to consider right now in relation to your business development?
Get in touch if you want some fresh insight and strategic support to grow your business and make your marketing more fruitful.