‘The three things marketers require to meet the needs of modern customers’
The nature of modern customers means marketers face a radically different landscape from their marketing forefathers and mothers.
Customers expect to make purchases and consume content 168 hours a week, whenever, and however, they choose. The rise of the 168-hour economy, at a time when the majority of marketers still expect to work the traditional 38-hour week of the 1960s, means many brands and services are failing to keep pace with expectations.
Ask senior marketers what marketing framework they’re most familiar with, they will offer McCarthy’s 4Ps (product, price, place and promotion) first published in 1960. Over the years, other models emerged. In 1981 Booms and Bitner added a further three Ps (people, process and physical evidence) and in 1990 Lauterborn heralded a more customer-centric model with the 4Cs (consumer, cost, communication and convenience).