The digital revolution has rewritten the laws of marketing. So why do B-schools insist on teaching outmoded notions of price, place, and promotion?
In 1960, Jerome McCarthy got a bright and amazingly resilient idea. All the components of a marketing strategy could be reduced to just Four P’s (Product, Price, Place, and Promotion), the 32-year-old marketing professor claimed.
And he was right, at least at the time. Those Four P’s have since become a tremendously influential guide in marketing programs. Although the world of marketing has changed significantly since the '60s, all MBA students, marketers, and strategy consultants are still expected to know and apply the Four P’s as if they were laws of nature. Some would argue that the digital revolution has yet to radically change the teachings of the Four P’s.
To read the full, original article click on this link: Why Do B-Schools Still Teach The Famed 4P's Of Marketing, When Three Are Dead? | Co. Design
