Marketing management professionals, and even advertisers, have the theory of the 4 Ps of marketing as a mandatory subject in their academic journey . Furthermore, the concept is still widely used when building the foundation of a strategy.
However, in the context of the B2B market, the 4Ps theory can end up restricting the performance of those working in marketing management. For this reason, the concept is outdated, since it fails to provide a complete view of the company's sectors and the consumer's life.
In this scenario, a study carried out by Harvard czech republic phone number resource Business Review presents a new thesis called SAVE , which is a new way of thinking about the 4 Ps of marketing in the B2B market.
Want to understand more about this new theory and how to reinterpret the traditional 4 Ps of marketing with SAVE? Just continue reading and enjoy the content!
What does the Harvard Business Review study say?
The research lasted five years, involved more than 500 managers and customers in several countries, and covered a wide range of B2B industries.
Ultimately, it was discovered that the 4Ps model hurts B2B marketers in three important ways:
leads your marketing and sales teams to emphasize product, technology and quality, even though they are no longer differentiators, but just the cost of entry;
the 4 Ps highlight the need to build a robust case for the superior value of your solutions;
and thus distracts them from leveraging their advantage as a trusted source of diagnostics, advice, and troubleshooting.
The study also says that this does not mean that the 4 Ps are irrelevant, but rather that they just need to be thought of differently for the B2B market, making the following substitution:
product by solution;
square for access;
price by value;
promotion through education.