Discussing the 9 Ps of the marketing strategy framework can be a little bit boring to some people. Yet, we can’t deny the fact that it is the most basic or should I say fundamental when it comes to marketing strategy.
If we wish to craft a robust marketing strategy, there are three basic elements we need to start off with. One is about understanding the business objectives. Two is to understand how to translate that business objective from a marketing objectives point of view. And three is the ability for us to come up with strategies to achieve those marketing objectives. The idea is always to execute those strategies, and convincingly achieve the marketing objectives set so that we can achieve the business objectives.
Now this 9 Ps model provides a structured approach for the 2nd element earlier, serving as a guiding beacon for marketers navigating the complex landscape of consumer behaviour and market dynamics. Stemming from the foundational work of E. Jerome McCarthy and later popularized by Philip Kotler, the 7 Ps framework expands the traditional 4 Ps — Product, Price, Place, and Promotion — by integrating additional factors essential for comprehensive strategic planning. Let’s dig deeper about it then, shall we?
4 or 7 Ps are outdated. These are my version of the 9 Ps. Here goes.
Product, the foundation of value creation
Each marketing journey starts with the product or service itself. Without quality products or services, do not expect marketing work to fill in the gap. It won’t. And, it quality doesn’t just stop at the product level only. Beyond its attributes, a product encompasses the entire ecosystem that addresses the needs and desires of the target market. Understanding the nuances of the process that comes along with the products, the user experience side of it when they use the product or when they deal with the company, product development, differentiation, and innovation is vital. The evolution of products isn’t solely about features but about solutions that resonate with consumers on a deeper level, addressing their pain points and aspirations…