In ‘Marketing 4.0’, Philip Kotler redefines marketing as “Outlining the human problem, the real human problem and addressing this problem.” In this context consider whether the original 4 Ps of marketing are still relevant in the 21st century?

The 4 Ps are product-oriented and not human-oriented is my interpretation of Philip Kotler’s work in ‘Marketing 4.0’ and ‘H2H Marketing’. Consider my understanding:

1.  Does it really matter which ‘place’ you honor the doctor’s prescriptions? Whether it is from your next-door pharmacy, a chain of retail pharmacies, or an e-commerce site? In the SoLoMo era, the place is ubiquitous.

2.  Is it ‘product promotion’ or ‘patient-doctor engagement’ which matters more for the success of a pharma brand? Isn’t it PDX or ‘Patient-Doctor experience in the patient journey which matters the most? Engaging a patient-doctor in product development can further enhance PDX.

3.  Is ‘price’ the differentiator or the value-added through the Service Dominant-Logic which is more important in building a brand?

4.  In Pharma India, every product has over 50 ‘me-too’ products. How is vildagliptin from Novartis different from the vildagliptin of USV? The success lies in making your brand ‘distinct’ using Design Thinking and Service Dominant-Logic, the two of the three pillars of H2H Mindset. 

Just ponder over these thoughts and ask “Are the 4P’s still relevant in the 21st Century”?  

#H2H #H2HMindset #H2HMarketing #H2HBrandManagement #PharmaStateAcademy

Written by:

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Vivek Hattangadi – Chief Mentor at
PharmaState & The Enablers

 

1 COMMENT

  1. I strongly believe that Promotion is one of the core part for any Pharma company now a days. So Promotion make our business strong with new spans away from our traditional business.

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