Purpose: the P that matters most in Marketing, argues Nigel Clark.
Marketing is somewhat obsessed with the letter P. We're all familiar with the marketing mix 4Ps (product, price, place and promotion) and 7Ps (people, process and physical evidence) but there is then a 10P, 12P and even a 25P version of the model. The more Ps the merrier!
The environmental or sustainability movement has long had its own set
of Ps too – albeit only three: Planet, People and Profit (or
Performance) – to help counter the concern for societal damage. Their
mantra has been that in achieving the money P you should consider the
impact on the two societal Ps. But this again implies a trade-off where a
greater focus on Planet and People leads to a decrease in Performance
or Profit. Its unintentional, but it come across as a confrontational
framework. Nigel argues that there is no confrontation, improving Purpose with improve Profit and People.
Nigel gives examples of organisations that do Purpose well and those who do less well.
the future for marketers: Charles Nixon discusses accelerating trends