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DAVE Brings the 4Ps of Marketing into the Digital Age

Marketing professionals in today’s economy are faced with a wide array of options when it comes to digital and traditional marketing channels, platforms, strategies, tactics, tools and messages. Knowing how to combine each ingredient to engage and convert any given audience can be overwhelming, especially for business leaders who already have a lot on their plates.

The dilemma reminds me of the build-your-own fast casual restaurants that are popular these days. You know the ones – pick your base, add a protein, then choose from dozens of vegetables, sauces and garnishes to top it off. It’s a clever model, centered around customization, healthy options, variety, and speed.

The system works well for people who like to cook, know what flavors go together, and enjoy trying something new – regardless of the outcome. For people like me who don’t know a radish from a rutabaga, it’s just stressful. How do I know which ingredients taste good together? Which ones should I choose and in what order? Isn’t it the restaurant’s job to figure it out and tell me what works best? 

In her book Think Like a Marketer, Kate Colbert reminds business leaders that a foundational understanding of marketing principles is crucial, but so is knowing when to ask for help from a marketing consultant or agency.  “Marketing today is no longer about ‘one tactic or the other’ but about ‘one tactic and the other.’ There is more to understand, more to juggle, more to integrate and more to measure.”

In many startups and small businesses, the marketing duties often fall to those who already juggle multiple roles in their organization and don’t have the time, training, or expertise to make informed decisions. This is where partnering with a trusted agency or consultant can make all the difference in concocting the right marketing mix for your business.

In addition to seeking expert guidance, thinking like a marketer also requires a shift in mindset, Colbert says, and I agree. It’s about constantly viewing your business from the perspective of your customers and figuring out how to best connect with them. This two-part process requires understanding your customers and using those insights to reach them effectively.

The 4Ps of Marketing

For many decades, a basic understanding of marketing has started with the “4 P’s.” The concept was first made popular by Neil Borden, a professor of advertising at Harvard in the 1950s. When I was studying business at Harvard back in the 1980s, they were still using the 4Ps to describe the typical marketing mix – Product, Price, Place, and Promotion:

  • Product is simply what your company sells, whether it’s a tangible good or a service. The key to defining your product is knowing what makes it different or meaningful. It may fill a need not currently being met or provide a customer experience that creates demand. 
  • Price is how much money you charge for your good or service, and it must reflect the product’s real and perceived value. 
  • Place is where you sell your product and the methods of distribution that you use. Place is closely tied to visibility, especially in the realm of digital marketing. 
  • Promotion is the process of persuading your potential customers to buy your product by highlighting why they need it and what problem it will solve. Understanding your target audience is essential to figuring out how to reach it.

More P’s

Since the 50s, theorists have added more P’s to the list: 

  • People represents the belief that knowing how customers behave and tracking their experience with a product will impact the marketing strategy. 
  • Others add Process, which is closely tied to customer service.
  • Physical Evidence refers to the methods used for helping the target market picture themselves using the product or experiencing the service being sold.

No P’s

However, given the digital transformation of our modern marketplace, I don’t think the 4Ps (or 5 or 7) are quite so relevant anymore. Our understanding of marketing best practices needs to evolve with the current business environment. In the same way that websites and social media posts have replaced window displays and newspaper ads, we need to update our thinking. It doesn’t make sense to keep doing things the old way and expect the same results. Staying ahead of the curve means challenging the status quo, and that’s where DAVE comes in.

Meet DAVE

“Who in the world is Dave?” you might ask. DAVE is a modern version of the 4Ps concept – one that I developed to bring the foundations of marketing into the digital age.

Energetic and slightly quirky, DAVE is an early adapter, always loaded down with the latest tech gadgets. He’s not only aware of the latest trends but also understands what makes them trendy.

DAVE is the Design, Audience, Visibility and Engagement of your brand.

  • In today’s marketing context, a Product is defined by its Design. The product (or service) itself is still important, but its features, functions and usability now take center stage in identifying and communicating what makes it different, meaningful and desirable.
  • The issue of Price has become more a question of Audience. Reaching the right audience is paramount, and when you do, price almost doesn’t matter. The reasons for buying a good or service vary, and they often have more to do with image, power and emotions rather than logic. When you develop and market your business with your customers in mind, and then target them accurately, you’ll be in a good position to set your pricing.
  • The concept of Place is still important, but it now has more to do with Visibility. Even if what you’re selling has a physical address or can be carried home in a box, the priority needs to be making sure it can be found online. Your website, social media presence, SEO strategy and paid advertising all play a role in reaching your target audience.
  • Lastly, the old-school concept of Promotion is being rapidly replaced by Engagement. Once you reach your target audience, you need to inspire interaction with them in order to build trust with your brand. Consistency, expertise, and great storytelling are just a few elements to incorporate along the way. 

By following the DAVE approach, you can build trust, support your customers on their buyer’s journey, create meaningful experiences, and unlock their purchasing intent.

Recipe for Success

As you shift to a more updated, customer-centric marketing mindset, take a fresh look at the modern menu available for use in your next marketing campaign. If you have questions or need expert guidance on maximizing your marketing efforts, our team at Nehmedia and Pet Resort Marketing are here to help. With just the right mix of creative talent, technical expertise, and proven processes, we’re ready to guide you toward sustainable growth and lasting success for your business.

 

A digital marketing strategist and lifelong entrepreneur, Mark Sherman is the Founder & President of Nehmedia, Inc. | Pet Resort Marketing and My Pets Text™.