This marketing mix was first suggested by J.McCarthy in 1964 that later popularized by American marketing author Philip Kotler.
Of course, these 4 P still holds their place in the internet era as well but are not the only factor that makes or breaks the marketing strategy of a brand.
Especially, when consumers are having a lot many choices to choose from a list of a brand who they want to support. Plus, thanks to technology who is changing the way consumers used to buy things.
Now, not all brands succeed in this competitive env., Even after focusing on those 4 P’s they need to stand out by giving their audience a very strong reason to support them with their money.
But a few brands out-smart others by using the 5th P in their campaigns that attract their audience to join the journey. I’m talking about Purpose a.k.a 5th P of marketing.
We, as consumers, don’t just want brands to make better products instead we want them to not only taking a stand on social issues but act on it, without faking us.
We want them to do more than just spreading awareness or creating premium products, sure we can’t deny the fact of a remarkable product, but that story for another day!
A most recent example of what I’m saying can be seen in Lay’s “smile Deke Dekho” campaign, involving a specialized design bag showing an infectious smile of random humans.
The purpose of lays was clear: they wanted people to smile more which creates a positive ripple effect with others.
Not only this but in American version of this campaign lays decided to collaborate with a non-profit named Operation smile, that helps children suffering from a cleft condition.
Without any doubt, lays campaign generated over 70 million impressions on various platform. But, more than that number, lays
created a meaningful relationship with the people by hitting the deep human need i.e
No matter what, the involvement of purpose in marketing, not as a cheap tactic but showing seriousness by investing efforts, energy and time, authentically can become a huge differentiator in the long-run.