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The 13 P’s of Marketing

Note: Original Article on Prepared Marketing

Survey any number of business owners about the 5 P’s of marketing and they will tell you, “promotion, promotion, promotion, promotion, promotion.” This mantra is devoid of the standard 5 P’s of marketing which are Product, Price, Position, Placement and Promotion. Some propose others like People, Physical Evidence {aka Packaging}, Process, and even newer P’s like Personalization. There seems to be a big disconnect between the knowledge of a small business and the overall strategy of marketing that other larger companies use. In our mind, the concept or lack of marketing might be summed up in one other significant P – Preparation.

What Are The 13 P’s of Marketing

ProductThis first P in the marketing mix could also be considered service as a product. In marketing strategy, you would take into account the elements of design, color, benefits or needs your customers have for it. Take as an example a T-shirts color and fabric type as well as size. For service consider chiropractic adjustment as relief from pain, a doctor’s expertise, and the healing from injury.

Positionfocuses on the brand of the company. This considers how your brand is portrayed in the mind of consumers. Is it a premium brand or not the cream of the crop. The easiest way to understand this is to consider premium brands versus knockoff brands. What makes a Louis Vuitton bag better than a small bag manufacturer? This is often defined by the product but also in the image that the company portrays. For premium brands, this might be in the way it communicates to its consumers in style, function, perception (Maslow Hierarchy of Needs), price, etc.

Price is often defined by the product and position. Consider the product that the cost of goods (COGs), labor, research and development, brand image, and distribution all factor into the price. Other considerations may be as to whether the market can sustain the product. Some businesses fail because the cost of production outweighs the revenue. One issue we commonly see in this area is that small business owners rarely know why their product is priced the way it is, or its price is simply determined by the competitions pricing.

Placement considers where your product or service is distributed. Do customers buy online, in-store, over the phone, at home, etc? This might help define how you will promote your product or what kind of environment you need for your product. For example, if it is in person you may need a vehicle to deliver to or open a store front. If it is virtual, you may need an e-commerce website to allow for digital downloads. Understanding the distribution piece can help you better define your promotion.

Promotion is the understanding of your products and services that communicate with your customers about your products and services. Understanding your business, product, position, price, and place help define promotion. Promotional strategies consist of either a Push or Pull strategy. In short, a pull strategy is moving your products to your customers, while the customer is looking for a product. An example of this is having a sales force that brings the product to its potential customers. SEO could also be considered a Pull strategy. Push, on the other hand, drives its customers to the product, when they are not seeking your product. For example, advertising is often used as a way to execute this a push strategy by promoting the product through various marketing channels (tv, internet, etc.). How many times have you been watching TV and see an ad for something you would have never thought about waiting, and now it is on your radar for purchase?

People is about having the right “human resources” either inside your company or contracted via service contract, or other agreement. From a marketing perspective, people are essential because they are as much a part of your business offering as the products/services you are offering

Process is later added as a piece of the marketing mix. Process considers in part the service and operations of the company to improve the product. This idea can take into account feedback and the customer experience as means to improve the products. A store has barcodes that deliver value to its customers, new flavor suggestions as a feedback tool or even customization of product can all be a part that fits into the process.

Physical Evidence as a part of the marketing mix takes into account that consumers observe physical cues before buying. The Ambiance of where the product is sold and the packaging or paper used for the product are examples of physical evidence. Even the branding might be considered a part of the physical evidence as a cue for what they are looking.
The Last 5 p’s vary based on with whom you’re talking. They are often branded “The New 5 P’s of Marketing” and they tend to universally focus on the digital transformation that has occurred, and begin with a digital-first focus, as well as take a multi-channel approach. The following is a sample list, and there are many examples of such lists:
Procurement
Purpose
Presence
Pivot
Personalization
Preparation

When it comes to important concepts like promotion, the question is Are You Prepared? I guess I’m asking – are you actually prepared to know when the chosen channel of promotion is working or prepared with a plan of action for when it isn’t?

These issues are critical when it comes to generating a P we all love: Profit.
Preparation Leads to Profit At Prepared Marketing, it is our central belief that Preparation leads to Profit. So to illustrate this I will tell you a story that I am shamelessly stealing from Allan Dib, author of “The 1-Page Marketing Plan”.

If the circus is coming to town and you paint a sign that says, “Circus Coming to the Showground Saturday,” that’s advertising. If you put the sign on the back of an elephant and walk it into town, that’s promotion. If the elephant walks through the mayor’s flower bed and the local newspaper writes a story about it, that’s publicity. And if you get the mayor to laugh about it, that’s public relations. If the town’s citizens go to the circus, you show them the many entertainment booths, explain how much fun they’ll have spending money at the booths, answer their questions and ultimately, they spend a lot at the circus, that’s sales. And if you planned the whole thing, that’s marketing.
Marketing is fundamentally not the actions of promotion, physical evidence, price, or whatever P you want to talk about, rather, marketing is Preparation. You can not have repeatable, ongoing success in marketing without preparation.

The Progression of My Logo Design

I don’t know if I suffer more from a creative itch that needs to be scratched or simply a scattered brain. My wife makes fun of me about my website because it undergoes more transitions than a CSS transition gallery. I digress. The new layout and design I can say is much more to my liking. I am not saying that I have already arrived but that I believe I am starting to implement design, graphics and CSS in a more clean look to my eye. Below is a look at how design in my logos have evolved.
dereklivelogo2
derek-hanson-logoderek-hanson-logo-0

The final logo is my latest rendition and is likely to stay awhile. Unless of course that itch starts again. A step further in the design process would be to create the logo all in CSS styles which would likely will be doable. There it is again.

Part of the purpose of this was to reflect better my abilities. Some thought went into it working with icons that are often included in browsers and social sites when shared. I am becoming more conscience of compatibility for websites and use beyond the header of a website.

Well, say hello or share a little something.

Job Search Analytics

job-analyticsEver been looking for a job and just simply wish you knew whether your application was actually being seen by your prospective employers? The whole job hunt leaves a bit of ambiguity to your search. When you don’t hear anything then you are left to wonder did they ever see it. I found a small solution in providing a few tips to get some data from your job search.

My early attempts in adding tracking was done a few years ago using an email client called MailChimp. As a noob to email marketing I had no clue about the CAN-SPAM laws. My plan was to code an email for the cover letter and send that with an attached resume. The idea was to track the open and click through rates of emails that I was sending to job postings. But I was quickly shutdown because of the odd email strings that Craigslist created for the job posters. On the first attempt I was flagged by the email provider as having spam emails. Apparently the way I was going about the whole thing was a bit spam looking. Since then I’ve come to find some of these as usefully resources if you are looking to do this.

1)RightInbox for Gmail

RightInbox for Gmail allows you to track and schedule emails. Yes track your emails. Most of us don’t have the privilege to track our out going emails. The best response we have is “you’ve got mail.” By using this you can track your outbound emails sent to your prospective employers. RightInbox likely uses a little gif, a small image, which is downloaded from a server when the email is opened. A server then sends a report saying that email was opened and viewed. Perhaps this can help relieve a little bit of job hunt anxiety.

2) Url Shorteners

The benefit of a URL shortener is that you can track clicks that you might embed into your job posting. So if you have a portfolio website or link to your Twitter or Linkedin account then you can add some additional tracking to see if there is any further interaction to your. Now that you know your email has been opened you can see if there is any further engagement. This of course only works if they click on the links that you provide.

3) Google URL Builder

If you are going to track your application success rate then using analytics to track clicks from your pdf to your website can be useful. Using the Google URL Builder you can see whether or not people are viewing your website. You can design each campaign to see if any of your applications may be getting a call back soon.

Whether you like it or not we live in an information age and here are some resources at your disposal. Do you even care if your job applications are being viewed? Is this a bit creepy? Would you even do this?

A Mind-Blowing Cover Letter- What would you do?

Recently I’ve been on a new job hunt. After quite a few years of doing gigs I figure that a little stability might be nice. After all who doesn’t like knowing where their next pay check is coming from. One particular job I came across was for a non-profit doing marketing volunteer work. I’ve worked with non-profits since graduating college. While looking at it and thinking I wouldn’t working for them I came across one requirement which was to provide a mind-blowing cover letter. Tall order, right? What does the hiring manager think of as a mind-blowing cover letter any way? That got me to thinking perhaps a little to literal and the end result was the image below. We will see how it is received.

Have you ever applied for a job in a non traditional way and were hired?

I would like to know from any creative people out there what kind of things you did to get noticed by prospective companies. Please share your thoughts, ideas, and success.

mindblowing-cover-image