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Leading Edge Marketing by Veronica A. Williams

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CHAPTER 2

The Basics: The 5 Ps: Basic Components of the Framework

The 5 Ps

Traditionally marketers have focused on the 4 Ps of marketing—­product, place, price, and promotion. The IT industry has brought a new ­dimension to the basics of marketing. As technologies have advanced and product usage has become pervasive, IT has given birth to a new P: packaging. The 5 Ps of high-tech marketing are product, place, price, promotion, and packaging.

Product

Technology-based products can be most easily explained by grouping their defining characteristics into one of two categories: feature or function. A function is what the product allows you to do. A feature defines what you experience as you use the product. The distinction between feature and function ...

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