Are the 4P’s of Marketing Relevant Today?

In ‘Marketing 4.0’, Philip Kotler redefines marketing as “Outlining the human problem, the real human problem and addressing this problem.” In this context consider whether the original 4 Ps of marketing are still relevant in the 21st century?

The 4 Ps are product-oriented and not human-oriented is my interpretation of Philip Kotler’s work in ‘Marketing 4.0’ and ‘H2H Marketing’. Consider my understanding:

1.  Does it really matter which ‘place’ you honor the doctor’s prescriptions? Whether it is from your next-door pharmacy, a chain of retail pharmacies, or an e-commerce site? In the SoLoMo era, the place is ubiquitous.

2.  Is it ‘product promotion’ or ‘patient-doctor engagement’ which matters more for the success of a pharma brand? Isn’t it PDX or ‘Patient-Doctor experience in the patient journey which matters the most? Engaging a patient-doctor in product development can further enhance PDX.

3.  Is ‘price’ the differentiator or the value-added through the Service Dominant-Logic which is more important in building a brand?

4.  In Pharma India, every product has over 50 ‘me-too’ products. How is vildagliptin from Novartis different from the vildagliptin of USV? The success lies in making your brand ‘distinct’ using Design Thinking and Service Dominant-Logic, the two of the three pillars of H2H Mindset. 

Just ponder over these thoughts and ask “Are the 4P’s still relevant in the 21st Century”?  

#H2H #H2HMindset #H2HMarketing #H2HBrandManagement #PharmaStateAcademy

Written by: