Marketing has worked for years in framing the marketing mix on the classic 4P theory of product, price, promotion and place for finding its value proposition, today it is becoming smart by being connected.
Then this was extended for the need to bring in the service aspect, by becoming the 7P, adding physical evidence, people and process onto the original 4p.
Then this was updated in the nineties to become people, process, programs and performance.
Great as this may be in its ‘progressive’ evolution these are totally inadequate to ‘serve’ today’s world of smart, connected products. Product design has become hyper, connected and needed to be well-designed. It is more to do with what is embedded or how it is connected and less on the product as the value-generating a proposition.
Getting a deeper understanding of the smart, connected world
Continue reading “Smart, Connected Products Will Radically Alter the Value Proposition.”
