4c of Marketing

Some marketers say the 4P’s of marketing are out and the 4Cs are in. Here’s what they said: product, out; consumer values, in; price, out; consumer costs, in; place, out; convenience, in; promotion , out; communication, in; Is this true?

The 4C’s concept of marketing are basically the same with the 4P’s of marketing, according to Filipino marketers Dr. Ned Roberto and Ardy Roberto. Both the 4P’s and 4Cs are about the marketing mix. The 4P’s are the marketing mix components seen from the marketer’s perspective, the marketer’s decision tools for generating sales. On the other hand, the 4C’s are the marketing mix component now seen from the consumer’s perspective, the consumer’s decision considerations for making purchases.

According to the authors, the 4C’s of marketing simply said this: “In planning or implementing any marketing program, be it a product intro pricing, an ad campaign, a sales distribution program, never start from where you ( as the marketers) are. Always start from where the consumers are.”

Many people who have taken a marketing course have learned about the "4 P's" of marketing. Are Product, Price, Place and Promotion elements of this marketing formula something from the past?

Bob Lauterborn, professor of advertising at the University of North Carolina has tracked the success of new products introduced into the U.S. According to Bob, 80 percent of new products fail each year. With such a high failure rate, Bob notes that something isn't working with our "mindset". He wants to replace the Four P's with his Four C's:

Consumer wants and needs (vs. Products)
You can't develop products and then try to sell them to a mass market. You have to study consumer wants and needs and then attract consumers one by one with something each one wants. Author of the movie Field of Dreams, J.P. Cancilla may have exclusive rights to the phrase "build it and they will come". In most cases, you have to find out what people want and then "build" it for...