Want to understand that in Marketing you offer something different to your target market than your competitors?
In Los Angeles one of the hot places is the Line Hotel on Wilshire and Normandie.
It's called Break Room 86.
You enter by a phone booth. Remember them?
This is a '80's bar with four private rooms. Liquor is expensive; bottle minimums are $350. Food is snacks like Twinkies and Bagel Bites. They even on Tuesday offer live-band karaoke.
It's different, but is it being different to be different or to increase traffic, covers and revenue.
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I am a senior Forensic Marketing Expert, Advertising/Marketing consultant with Londre Marketing Consultants, LLC plus I teach Marketing and Advertising.
I own a copyright for this concept, the Nine P’s/9 P's of Marketing ©2007, which augments the Marketing Mix (Product, Price, Promotion and Place) or the 4P’s by the American Marketing Association, Neil Borden and Jerome McCarthy in the study and practices of Marketing.
The Nine P's/9P's of Marketing help identify marketing problems and opportunities in a number of areas and help develop marketing’s objectives, strategies, tactics and solutions. The Nine P's can be insightful.
In Marketing. the "Customer," or potential customers are king, but are missing in the 4P's.
I consult and teach using the Marketing concepts and practices of the Nine P's/9P's of Marketing.
In the study and practice of Marketing, Marketing and Brand Managers develop plans, strategies and tactics.
The Nine P’s include these important components:
The Nine P’s include these important components:
- Planning
- People
- It's about Segmentation and Targeting. Korea Town has a different clientele.
- "People" or targeting has almost always been left out of the traditional "Marketing Mix." Almost every diagram includes the four P's with "Consumer" or "People" or "Potential Buyers" in the middle of the circle. There needs to be more focus on the "Customer," or "People."
- "People," market segments utilizing demographics, geographics, psychographics, behavioral characteristics and technographics are a vital component of the 9P's of Marketing. Once a target market is chosen, the organization can develop its marketing strategies to target this market segment.
- Product and Services
- Place (Distribution)
- Price
- Promotion:
- Eight (8) major, strategic components: The communication elements include personal and non-personal communication activities. Activities that communicate the merits of the overall product, which include:
- Personal Selling/ Sales Force
- Advertising
- Sales Promotion
- Collateral Materials
- Direct Marketing (also referred to as Action or Direct Response Advertising
- Interactive/Internet/Web, Digital Media, Social Media
- Events and Experiences-
- Public Relations
- Strategic questions under Promotion::
- What should you promote?
- To whom should you promote?
- What economic and discount levels should you offer?
- What form of promotion should you offer? Features?
- How frequent?
- Partners:
- It is important to partner with firms that have similar corporate philosophies, who have agreed upon objectives and strategies.
- Presentation:
- The “P” or “Presentation” is the act of presenting any of the different 9P’s© and/or components to your customers, suppliers, wholesalers, retailers, sales force, marketing intermediaries, clients, employees, partners, and/or others.
- Look at “real” product and service experiences. I place “events and experiences” also under Promotion. While traditional marketing is based on target audience impressions/ views/ clicks/ exposure, experimental marketing involves engaging with consumers. Enabling consumers and “allowing” them to feel the brand.
- Passion:
- Those intense, driving or overmastering feelings, emotions in the planning, developing, pricing, promoting, partnering, selling and overall marketing of products or services.
For more on ideas, concepts and Marketing solutions: Go to londremarketing.com and look under “Articles and Resources” and the 9P’s/Nine P’s ©2007. Specifically you will find them detailed at 9P’s/Nine P’s.
Or for more fun, marketing strategies/tactics and facts: Go to Marketing Trivia with 37+ stimulating questions and answers at Londre MarketingConsultants, LLC. Here to help. All the best.