The Ps… the foundation for marketing | COPA Apprenticeships

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The Ps… the foundation for marketing

Published: 06.04.2020

Marketing is about understanding the competitive marketplace. It is also about understanding people and what makes them behave, engage and respond in the way they do. It enables brands and businesses to tap into key trends, identifying something that people or businesses want. It guides the development of a product or service which meets this need at the right price, and the promotion in the right place and at the right time.

Product, price, place and promotion, the “4 Ps” – the marketing mix. American marketing professor and author, E. Jerome McCarthy, first proposed the “4 Ps” as a foundation model for decision- making in 1960.

By the 1980s, there were calls for an expanded decision-making framework. In 1981, Booms and Bitner proposed a model of “7 Ps”, comprising the original “4 Ps” plus process, people and physical evidence, as being more applicable for services marketing.

The “4 Ps” and the “7 Ps” are still used as the basis for decision making today. As such, the role of marketing is far reaching and requires a range of skills and capabilities. For example, a marketing manager would be expected, for example, to:

  • Lead and implement a clear marketing plan and strategy, linked to business requirements to sustain a marketing advantage
  • Seek out opportunities to increase income generation and gain new business e.g. new products, markets and services as relevant
  • Effectively evaluate marketing activities using measurement data and analytics to identify relevant key performance indicators (KPI) and return on marketing investment (ROI) in order to meet business objectives

In its “Mission for Marketing” report, the Chartered Institute for Marketing (CIM), revealed marketing professionals identify communication (34%), creativity (33%) and commercial awareness (22%) as the top three skills most needed to succeed. Equally technical competencies in social media, technology and data analysis are seen as key.

Developing technical understanding and the skills for the role are at the heart of every apprenticeship programme. An apprentice would be expected to show occupational competence and understanding, demonstrating the skills and behaviours required for a career in marketing. They’d be expected to use the “4 Ps” and the “7 Ps” to make decisions to their business and brand.

COPA Apprenticeships offers two marketing apprenticeship standards – the L4 Marketing Executive and the Marketing Manager at Level 6.

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COPA Apprenticeships is a trading name of North Wales Training, an independent training provider owned by Grŵp Llandrillo Menai (GLLM), one of the largest further education providers in the UK.