The personalised marketplace: beyond the 4Ps

Abstract

Theories of marketing management and strategy need to evolve and change to keep pace with changes in the marketplace and in marketing practice. As the next century draws closer, it is apparent that some marketing managers are basing their relationships with customers on policies and procedures called either``individualisation'',``masscustomisation'', or as we prefer,`p ersonalisation''. The core of this practice involves tailoring goods and services to the individual needs and wants of specific consumers, just the opposite of onesize-fits-all. We propose that personalisation is so important to marketing strategy that it should become one of the featured elements of the marketing mix, alongside product, price, promotion, place, personnel, physical assets, and procedures, to form a new marketing mix, the 8Ps.The author would like to thank Eileen Bridges, Leisa Flynn, and Jon Freiden for their helpful comments on a draft.

The Marketing Mix: A Review

“…The necessary elements are better presented by Relationship marketing. Goldsmith (1999) Services are increasingly becoming significant to marketing of product and the design of marketing management.…”

From the Bottom Up and Other Lessons from Down Under

“…Healthcare providers can learn from the experience of successful marketers. While the 1950s spawned mass marketing where all consumers were treated the same, the field has evolved and now uses smaller and smaller groups of consumers as marketing targets (Schiller 1989), with concepts such as mass customization (Radder and Louw 1999) and personalization (Goldsmith 1999) replacing mass marketing.…”

Consumer attitudes and intentions toward personalization of fair trade apparel

“…With consumers demanding specific products, there has been a gradual move in the marketing approach from mass marketing to market segmentation, to niche marketing, to micromarketing, to mass customization, and finally to personalization (Goldsmith, 1999). Businesses are making the necessary changes in their business practices to meet the specific needs of their customers.…”

“…Personalization assists in customizing features of a product or service to satisfy the consumer's individual needs (Peppers & Rogers, 1993). Uniqueness, design, and fit issues can be solved through personalization of an apparel product (Goldsmith, 1999). Personalization can provide a unique shopping and consumption experience to apparel shoppers.…”

“…However, in the process of personalization, personal information is collected from the consumer in order to provide services to meet the needs and desires of that particular consumer (Goldsmith, 1999). For example, when a consumer purchases a pair of pants, in the case of customization, a consumer is given a choice of color, length, and fit.…”