Forget The 4 P’s; Learn The 3 C’s!

September 14th, 2009
Author: George Cortesini

I recently had the opportunity to participate in The Future of Account Leadership program held at the VCU Brandcenter. It was an inspiring—and at times, exhausting—experience, but I am very grateful I was chosen to attend. While there I realized just how fast our industry is changing, including some of its most deep-rooted beliefs.

I know we’ve all read about the 4 P’s in one Marketing text book or another: Product, Price, Place & Promotion. And that by using the proper mix we can create a perceived value, generate a positive response and ultimately influence a consumer enough so they decide to make a brand purchase.

Well forget what you’ve learned. This old school approach no longer works. There are way too many similarities between competitive brands’ costs, appearances, attributes and especially their advertising to influence a purchase decision.

I also know we’ve all heard this before – that actions speak louder than words. Well this is still very true and very relevant today, especially when it comes to building meaningful brands.

In the past all you needed was a catchy slogan, an iconic spokesperson, a big media buy and presto – you’ve built yourself memorable brand.

Today, it’s the consumers – not the marketers – that build brands. And with each encounter, brands are built up, torn down or left unchanged by the end user.

So forget the 4 P’s. It’s time to learn the 3 C’s: Conviction + Culture + Community.

Conviction

Today’s strongest brands are driven by a clear sense of purpose. They are not trying to be all things to all people. They don’t change with every whim or trend. They are loyal to their core consumers and that loyalty is reciprocated.

Culture

A brand’s culture comes from the top down and it creates a sense of belonging and kinship. Its members share common bonds, experiences and rules of behavior. And those members that don’t follow the unwritten rules can be snubbed.

Community

A brand’s consumers often form communities of followers – both online and offline. They are made up of like-minded ideologies and interests. They align with peer organizations. And they have natural points of congregation where they share feedback.

Tapping into the potential of these loyalist communities through conviction and culture is how today’s most meaningful brands are built. It’s time to revise the text books.