Question #1 — Are the 4 Ps outdated as they relate to consumer behavior in 2017? Please support your position with examples. Question #2 — Please provide a business that is doing a great job following the 4Es, and also a business that is doing a bad job and may still be thinking like a 4 Ps organization? THE APS ARE OUT, THE 4Es ARE IN By Brian Fetherstonhaugh If there has ever been a time for change in marketing, this is it MANY OF US GREW UP with the Four Ps of Marketing: Product-Place, Price and Promotion Do you know when the Four Ps ofMarketing were invented? In 1960, by Jerome They were made leading-edge by Philip Kotler in his book Principles of Marketing in 196 The Four Ps thrived in a different world. It was a wonderful fantasy world. Marketers were king. Product differences lasted. Big, obedient audiences could be reached with big, efficient media. What is the world of marketing today? The consumer has seized control Audiences have shattered into fiagments and slices. Product differences cn last miutes, not years. The new ecosystem is mllions and billions of unstructured one-to-one and peer-to-peer conversations. Marketing is in the hot seat. So many of the tools and assumptions we grew up with are no longer valid Many marketing leaders around the world got promoted into their jobs because they did two great product launches and three great TVcampaigns, and figured out how to work with a few major retailers According to a recent shudy by Spencer Shiart, the average temure ofa CMO is less than 24 months. And only 14 percent of CMOs have been in the positions with the sae company for more than three years. A CMO Council 2007 report conchudes that only one-third of board members are satisfi ed that thei marketing leaders can explain the ROI of marketing. We need a new framework. And a new tool kit. For starters, we need to throw away the Four Ps and embracc the Four Es:

Question #1 — Are the 4 Ps outdated as they relate to consumer behavior in 2017? Please support your position with examples.

Question #2 — Please provide a business that is doing a great job following the 4Es, and also a business that is doing a bad job and may still be thinking like a 4 Ps organization?

THE APS ARE OUT, THE 4Es ARE IN By Brian Fetherstonhaugh If there has ever been a time for change in marketing, this is

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