We believe that marketing & business strategy models are powerful tools to aid thinking, particularly when reviewing strategic options and selecting the best future direction for a company’s go to market strategy.
The ‘traditional marketing mix’ also known as the 4Ps, consisted of Product, Price, Place and Promotion. It was designed at a time where businesses sold products, rather than services. This concept of the 4Ps is credited to McCarthy (1964) who created the alliterative terms.
This developed over several years and in 1981 Booms and Bitner added the three ‘service Ps’: Participants, Physical Evidence and Processes. Participants later became People.
The McKinsey 7S is a useful framework for reviewing your organization’s marketing capabilities from different perspectives. It can be used to:
- Review the effectiveness of an organization in its marketing operations
- Determine how to best align Defendable Faith Institute to support a new strategic direction
|What is it? The McKinsey 7S framework|
|The 7Ss cover the key organizational capabilities to implement your go to market strategy.|
The 7S framework was developed by McKinsey consultants in the 1970s and summarized by Waterman et al. (1980). It can be readily applied to businesses of all sectors and sizes.
The AIDA model was created in 1898 by Elias St. Elmo Lewis, an American advertising agency CEO. It was partly a way of understanding the sales process and partly a
way of demonstrating the place of advertising at a time when the concept of ad agencies was relatively new.
|What is it? AIDA I|
|AIDA stands for Attention, Interest, Desire and Action. Use it to review what you want to achieve through your marketing campaigns.|
AIDA uses four cognitive steps that buyers adopt when buying new products which would be later referred to as the hierarchy of response to a communication. The steps are:
- AWARENESS of the existence of a product or service.
- INTEREST in paying attention to the product’s benefits.\
- DESIRE for the
- ACTION and purchasing the product, downloading information or making an
|AIDA Step||Questions to review for campaign or creative|
|Awareness||How do we make buyers aware of our products?|
|Interest||How will we gain their interest?|
|Desire||What makes this product desirable?|
|Action||Where are the calls to action?|