Rather than run through the dictionary, I would like to share two words that I believe are more important than ever before-people and purpose.įor those who’ve followed my work over the last decade, you’ll note that I’ve often referred to “people” as the “ 5th P of Marketing.” It wasn’t until recently however that I finally put all of the pieces together to consider a 6th P, in this case adding “Purpose” to the mix. To adapt, new pillars are needed whether or not they start with the letter P. But we now live in an era where customers are more connected, informed, and empowered, and as a result, their expectations amplify and modify. I’m sure we can find words that begin with the same consonant.
Truth be told, there are many words that can find their way into this discussion. Instead, I’d like to introduce of two additional Ps that will propel a decades old concept and modernize it for a social economy. I suppose that’s a debate for another time. In an era of connected consumerism, one could argue the merits of any of “Ps” and whether or not they’re still relevant. For years I’ve written about how the 4 Ps of Marketing, Product, Place, Pricing, and Promotion represented a dated perspective of customers and markets.
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