The Various 5 P’s Of Marketing

by Paul Simister on May 9, 2009

In this article I will look at different versions of the 5 P’s Of Marketing.

The Background

I wrote a very popular article about the marketing mix:

Marketing Mix: 4 P’s or 7 P’s of Marketing or Extended Even More?

I then extended it to look at the different versions with widely different P’s. I’ve now decided to have separate articles for each of the various numbers of marketing P’s.

The Original 4 P’s Of Marketing

The original marketing mix that has become widely known is Product, Price, Promotion and Place.

The Various 5 P’s of Marketing

I’ve got three different versions for you to consider below but I’ve taken a more detailed look in another blog at the 5 P’s Of marketing.

Version 1

Very similar to the traditional 4 P’s with Participation added.

Product

Price

Place

Promotion

Participation – engage in a conversation between the brand and customers

I picked up this version from http://www.collegerecruiter.com/consumer-marketers-blog/general/the-5-ps-of-marketing/

Unfortunately the page doesn’t exist any more.

The growth of social media and the chance to have a two-way conversation with a business has definitely added participation to the possible marketing mix.

It’s always been good advice to talk to and listen to customers but now there might be an expectation that things happen because of participation.

Version 2 – The 5 P’s Of marketing And Seller Relations

This version is much more radical as it only includes promotion from the normal marketing mix model. It’s been developed for the real estate industry.

I’m not sure about the inclusion of perfection although you should aim to continually improve marketing while it’s cost-effective.

Promotion

Position

Perfection

Preparation

Positive attitude

http://www.nextlevelsolutionsforrealestate.com/The-5-Ps-of-Marketing-and-Seller-Relations.html

The three-way relationship between seller, buyer and agent brings together some interesting marketing issues.

Version 3 – 5 fundamental principles of marketing

Fraser Hay (as mentioned above and one of the reasons why I started to think about all the different P’s that can related to marketing strategy and practice)

Positioning

Packaging

Promotion

Persuasion

Performance

Sorry I can’t find a short link for you on this one.

What Do You Think About The 5 P’s Of Marketing?

Do you find any of these more helpful than the traditional marketing mix?

The Other Versions Of The Marketing Mix

If you want to look at how the other versions have developed, here are the links.