The Five Ps of Marketing

Why Care about The Five Ps of Marketing?

Most people starting out in network marketing have never having thought much about marketing, or ever having heard of the Five Ps of Marketing (or even the original 4 Ps of Marketing).

They get excited about a product and/or opportunity first, and go forth with every bit of excitement and energy they expect from others, armed with reems of duplicatable information from their company.

But many then turn to the internet to ‘market’ their product and opportunity, and soon find themselves either tripped up by all that there is to learn, or by making the mistakes of so many before them and alienating their online connections just as they might their family and friends offline.

For any sort of marketing however, offline or online, there are basic skills that some might take the time to learn, those of communication and personal development primarily, that will be most likely to make the biggest difference in their success.

It is worthwhile to at least pay at least cursory attention to the fact that marketing is indeed at the heart of a company’s decision to use the direct marketing model for their company, as opposed to the more traditional marketing methods.

As it should be for those building network marketing businesses, the five Ps of marketing is not necessarily their focus.

The focus in this case is relationships and leadership, training and duplication.

But for some, building an organization requires reaching out, increasing your reach, widening your net, may require some actual marketing, and so learning some of that becomes sometimes cumbersome.

However, it’s not hard to conquer if you find focus, and start with the basics, such as the 5 Ps of Marketing.

Putting the Five Ps of Marketing into Context

  • A marketing plan is your road map to implementing your promotional ideas and measuring your success along the way.
  • Marketing is how you can grow your business in more ways than the traditional, using a variety of methods and much more creativity.
  • Marketing takes time, but done right, it will bring your business growth in new and return customers, new prospects and business partners, and increased income.

So some some basic Marketing 101 might be a good place to start, or at least be aware of, having started down this path…..

5 Ps of MarketingThe Five Ps of marketing

Before I describe the five Ps of marketing, it is best to start with a little history.

There has been a ‘build it and they will come’ premise since the dawn of the industrial age, which still carries weight today.

But often it is with the Market in mind that successful products were born.

The product would never be a success unless the market demanded it. So, in fact, market selection has always been the key to a successful business.

A large target market is often the key to the highest sales numbers in any company. So if you have given serious thought to this before jumping into an opportunity, you’ve at least considered one important long term aspect.

So before it became the five Ps of marketing, there were really initially 4 Ps of marketing formerly defined, which were as follows:

1) Product: Not so surprising, the first P is Product. You want a product that stands out, above the fold, has a unique selling proposition. Analyze your competition; establishments or products like your own & those that compete with alternative products so that you’ll know how others in your market are succeeding.

2) Price: The price must be competitive, reasonable, and fit the budget and income ranges of the market to which it is intended.

3) Place: Where you will sell this product, be it in a store, at various public venues, or online.

4) Promotion: Advertising and promotional action plans are necessary for any product’s success. In the direct marketing field, this is largely up to the company representative and often augmented with duplicatable sales tools from the company.

But in the last 40 or more years, something of a transition has taken place, and some which is reflected in the fact that the network marketing industry has been so successful and has endured over time.

5) People - The focus of marketing has shifted from being product centric to relationship centric, particularly in the last 15 to 20 years. Businesses and entrepreneurs have realized the power of relationships.

The power of relationships cannot be ignored as it is people that drive the success in any business.

Secondly, the product, price, place and promotion, especially for an excellent internet marketing coaching and income system can be found here at the DotComSecretsRoadmap.

So while you are making a plan for your business success, be sure that you’ve considered the 5 Ps of marketing, and stay focused on the 5th one.

After finding a product that you believe in (which may also be your opportunity), one priced well enough to ensure strong customer sales, provided through channels achievable for your budget (online, drop ship, store front or whatever), then before you go into the promotion, be sure that you’ve got that number 5 covered.

Build rapport and create a sound relationship and you’ll find success in building a business that lasts, and keeping the five Ps of marketing in mind will help keep you centered!

27 Responses to “The Five Ps of Marketing”

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  1. Product and Promotion, reminds me of Content and Promotion, same principle, building your product – or content – won’t do wonders to your business if you don’t find a way to promote it, and it’s better if you have it ready long before the product is ready in first place.
    Too many people believe building a good product is enough to cash in sales enough to sustain your business, but that’s far from truth, learnt it the hard way, and fine-tuning since then.

    • Vicki says:

      Hi Gabriele,

      You’ve got it! That is such a good analogy, product and promotion, content and promotion. If you don’t know how to promote your content or product may not get far. It’s no longer true that you can build it and they will come. Although the world is smaller in many ways, it is far too big with too much competition for that to to work any longer!

      Thanks for stopping by, you are awesome!
      Wishing You Tremendous Success,
      Vicki

  2. Hi Vicki,
    I think number 5 hits the nail right on the head for me… People – The focus of marketing has shifted from being product centric to relationship centric. And successful entrepreneurs have realized the power of relationships.
    Thanks… see you soon,

    Coach Freddie

    • Vicki says:

      Hi Freddie! You’re so right, the focus has most definitely become relationships, with the prospect, the customer to the distributor. It is everywhere that you can see, building the ‘Know-Like-and-Trust’ factor always comes first before any success!

      Wishing You Health, Happiness, and Success Too!
      Vicki

  3. Bryan Salek says:

    Thank you, Vicki! You can never remind people enough that networking is all about the relationships with people. Nice post.

    Bryan

    • Vicki says:

      Hi Bryan, thank you! I know, it’s sometimes easy for people to forget when they’re spending too much time on marketing activities that it’s really the networking that is important! That’s the only way to really build a relationship, and in turn that relationship is the real bottom line!

      Thanks for stopping by, great to see you again!
      Vicki

  4. Amy Hagerup says:

    I agree that the relationship is the key. Loved the post.

  5. Karen Marrow says:

    Vicki,

    Everything you share is so important. I totally agree!!!

    Thanks for sharing,

    Karen

    • Vicki says:

      Hi Karen!

      Thanks so much for stopping by, I don’t know how I missed your comment! Better late than never I suppose – I am glad you agree, and it’s just the basics sometimes forgotten that are most important!

      I hope you are doing well, good to see you again!

      Wishing You Fabulous Success,
      Vicki

  6. steven papas says:

    thanks for your points, Vicky. I was thinking that “Packaging” could be a 6th P of marketing, although it might be a component of the “promotion”.

    • Vicki says:

      Hi Steven!

      Good points, and I think you’re right, that would probably fall into the ‘promotion’ category, good observations though!

      I hope you have an awesome week!
      Wishing you Tremendous Success,
      Vicki

  7. Jon Crill says:

    This post of the 5 P’s is very, very helpful!!! The first 3 P’s in my primary Biz are solidly in tact!!
    Especially The first P=Product…..It being a brand new product in the Health-n-Wellness industry, that
    no longer is “On Trial”, but is backed by the whole scientific community in conclusive research & testings.
    It definitely “Trumps” Any-n-All the other good and great products already in existence!! (Product B)
    Now for #4 & #5 P’s, is where I need to improve on…..So Thank You Vicki for getting me to be more
    aware of these areas that I need to work on. Great Article!!!
    Cheers & God Bless You-n-Yours,
    Jon Crill @ JCWISDOM.com

  8. israel says:

    hi,can someone explain me 5ps and even the aim of it because it is my first timt tou hear about it.Thank you

  9. Mustafa Nazmy says:

    Hi, I just wanted to add that nowadays marketing parameters have been recently jumped to 7Ps according to my latest studies:1- product 2- price 3- promotion 4- people 5- place 6- process 7- physical evidence.

    # process : at some governmental trade chains or merchandizers , you could repel and feel boaring from those since long process & proceedures to buy /pay even if wanted to exchange goods or retrieve back money.and vice versa for those ones with simple process.

    #Physical evidence : some local even big supermarket chains you avade due to bad smell, lack of ventillation or unclean surfaces and goods.

  10. The last and as equally important “P” of business marketing as all the others is the one that most people think about when thinking about marketing. This, in most peoples language, is called “Promotion.” I am pretty sure that this will not be a surprise anyone reading this but there is a massive amount of business people who consider promotion to be such things advertisements, magazine adverts, television adverts, and even placing newspaper ads.
    Of course these are all traditional promotion methods and marketing strategies that are still actively used online today and should be used if you have a budget set a side to accomplish this. This is also know as offline marketing.
    However other more effective promotions can and should include offering deals and sales on the product in order to draw in more customers that are willing purchase what it is you are offering for sale. As long as the product is of good quality, most will will come back to your business purchase again at the standard price. Promotion is all about getting your product out into the marketplace.

  11. Chris Scott says:

    This is really surprising for me though! I never thought that all of the important parts of the business can be so easily grouped by these P’s. The product is the foremost thing that you should always improve. Better products always mean better earnings. If one of your products don’t work out, don’t lose hope! Maybe the only thing that doesn’t make it sell is the way you promote it. There are a lot of ways that you could promote your products, but not all of them will sell the product and only a few will do.

  12. Lise Beaulieu says:

    Hi Vicki ,

    A good friend of mine recommende that I check to see if you could assist me in my mission this week … I need to put together a ” Sales Manual ” for my new employer ..
    We just launched a new business only a few months ago ., now is time to hire .. I have many years of sales experience .. but honestly to sit down and put it all on paper in a order that would make sense to everyone !! . I need help . Any suggestions on somethng I could use as a guide ?
    Would really appreciate any help or guidance here .

    LIse:) beauliue3@sympatico.ca

    • Vicki says:

      Hi Lise,

      I’m sorry I don’t provide such services, as my calender is completely full of team building and coaching activities already, but I hope this post has helped just a bit, and there are lots of similar posts in this blog that may help as well.
      I wish you the best!
      Vicki

  13. Charles Sutton says:

    I work with a pet industry company and they have “Pets” as their 6th “P” of marketing. Just thought I’d share. Really enjoyed the article and gives a fresh perspective on the five “P”. Liked you on Facebook and look forward to reading other articles.

  14. Hi, brilliant post. The 5 Ps are a set of recognized marketing tactics, which you can use in any combination to satisfy customers in your target market. The 5 Ps are controllable, but subject to your internal and external marketing environments. Combining these different marketing tactics to meet your customers’ needs and wants is known as using a ‘tactical marketing mix’. Thanks for sharing.

  15. If you own a business, are putting together a business plan, or are considering starting a business, it will be important that you understand the 5 P’s of marketing.

    For years marketers referred to the 4 P’s of marketing. Only recently has a 5th P (People) been added.

    Regardless whether you believe in 4 p’s or 5, you’ll still want to have a good grip on:
    Product
    Price
    Place
    Promotion
    To me, it’s pretty hard to ignore “people” in this. Even if yours is a one-person business. For example, will you use customer service in marketing your products? Will you need special training to accomplish your goals?

    The 5 P’s of marketing make up what’s referred to as your marketing mix.

    • Vicki says:

      Absolutely Anthony!
      And People was the essential missing piece to the 4 P’s of Marketing, as it’s the crucial key to any success in business!
      Thanks for stopping by!
      Vicki

  16. Marivic Pila says:

    The core meaning of Place is closely related to Product. Think about your Place as the categories in which you’ve earned the right to practice your functional skills.

    Although companies are looking for an exact fit of “been there done that” for both skills and categories, most are somewhat open to considering your skills if they have been developed in categories that obviously are related.

    A secondary meaning of Place is that it’s a bonus if you’re located within commuting distance. Sometimes this is a requirement, especially for mid-level jobs.

  17. Rick Pila says:

    Hi Vicky! Great Post! Honestly, I have been to marketing career for about 17 years in total but I can still remember the P’s of marketing and it reminds me of my basic which is very important of all. Cheers

    • moses says:

      Hi vicky
      am impressed with dis coz al around the world marketing is the key of most succesive activity

      people n promotion is the best key

      regards
      Moses

  18. moses says:

    hi vicky
    This is the best post i like it

    regards
    moses

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