4P Bundle in the New

Businesses of yesterday - be it services or products - focused on 4Ps to define the way business is taken to market. The well known price, product, promotion and place. Today, when successful players are building their business with change as a permanent pillar, 4Ps is shifting to its new definitions.

Price to People:- In business plans, pricing has taken different models till now. With the unprecedented learnings from the recent waves, what matters is people and the value it can offer. Its all about value to people. Be it health, economics, utilities, manufacturing, design, automotive, life science - the last mile consumer/ citizen/ people have taken over the role of value proof points. Industry dinosaurs were extincted with their monolithic process, products and price. When people are primary, value is the business

Product to Planet: Successful products were built on challenges. To solve, to make life better. In the race to make life better, business continously added "new" features to enhance the buyer experience. This has taken a skewed view of maximizing product features. Question then is with what resources, components and elements are we continously enhancing products to ever changing needs. Time is high to slow down. To take up a balcony view on this journey to make new products. Fjord (Accenture Interactive) in its recent article, discusses the finer threads in "Fabric of Life". One of the key point discussed is "the end of abundance thinking". Fjord calls out it as "Scarcity of raw materials, a shortage of workers, strained distribution channels and even new austerity laws are shaking abundance thinking built on availability, convenience, and speed." This is a balance between affordability and sustainability, leading to decoupling innovation from the notion of “new". The new innovation is "Zero". Be it net zero carbon emissions, zero waste in fashion, zero gravity in Space or zero distance in Meta. This leads to the shift in focus to Planet. Sustainability takes a centre stage for every business, irrespective of where the business is today. As Accenture sustainability value promise states "Just as the digital revolution transformed how we live and work, so too will sustainability, driving new value and growth and permeating everything that we do." When planet is primary, sustainability is the business

Place to Platform: Place in marketing was a point where value change hands. When the software is eating the world, place is virtual. Place is misplaced. In todays world when telemedicine saved lives, when remote advisory is helping people manage finance, when digital identity moves across globes at the speed of light, when avatars interact and transact- Place in 4P is immaterial. What powers is platforms. Platform stories range from many poster childs be it Amazon, Uber, Airbnb, discussed in every board room and all businesses deliberated their own models of uberized market place, where disintermediation is considered to be the master stroke. Platforms have taken many shapes technically as a service models and new hybrid models are emerging. Interestingly, platforms are connecting together to create composable business. While we decompose value chain of traditional businesses, new businesses are emerging in new combinations of consumable components. This shift from place to virtual place or platforms is clearly emerging. When platform is primary, composability is the business.

Promotion to Purpose: Promotion elevates awareness, it unlocks value to targeted segments. In a world where people, planet and trust matters, every business needs an emotional connect. In Banking, it is Purpose driven Banking, in Retail it is Responsible Reset. in Energy it is Re(de)fining resilience, in Healthcare it is Restoring Provider Trust - all converge and elevate promotion to purpose. When purpose is primary, trust is the business

People, Planet, Platform and Purpose makes the new 4P bundle for the next breed of successful businesses. When this DNA replicates, the best is yet to come.