FOUR NEW P'S

Four New Ps
Personalization: Customization of products and services through the
use of the Internet. Early examples include Dell on-line and
Amazon.com, but this concept is further extended with emerging
social media and advanced algorithms. Emerging technologies will
continue to push this idea forward.
Participation: This is to allow the customer to participate in what the
brand should stand for; what should be the product directions and
even which ads to run. This concept is laying the foundation for
disruptive change through democratization of information.
Peer-to-Peer: This refers to customer networks and communities where
support happens. The historical problem with marketing is that it is
“interruptive” in nature, trying to impose a brand on the customer.
This is most apparent in TV advertising. These “passive customer
bases” will ultimately be replaced by the “active customer
communities”. Brand engagement happens within those
conversations. P2P is now being referred as Social Computing and
is likely to be the most difficult force in the future of marketing.
Predictive modeling: This refers to algorithms that are being successfully
applied in marketing problems (both a regression as well as a
classification problem).


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2. Underline the vocabulary you don't know and find out the meaning
3. Make a summary and add your opinion at the end. Do you agree with
the author? Do you think that 4P's are that important?
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