TLDR:
The traditional 4 P’s of marketing (Product, Price, Place, Promotion) are no longer enough to win in today’s competitive market. A modern strategy employs an expanded 10 P framework, incorporating deeper layers into a business, such as its internal People and Processes, its brand identity through Positioning and Purpose, and its customer connection through Physical Experience and Partnerships. By competing on all ten fronts, a business can build a holistic and resilient competitive advantage that is far more difficult for rivals to replicate.
In Part II, we will apply this to a practical example of a traditional ice cream store on a street with nine other identical competitors. How can they use the 10 P model to survive and thrive?
A marketing mix is a foundational business framework used to bring a product or service to the market. Think of it as a recipe. To bake a successful cake, you need the right ingredients in the right proportions. Similarly, to build a successful business, you need the right combination of marketing elements.
The marketing mix refers to the set of actions, or tactics, that a company uses to promote its brand or product in the market. It’s the strategic positioning of a product or service in relation to key areas that influence customer decisions.
When I took my first marketing classes, I was introduced to the 4Ps of marketing: Product, Place, Promotion and Price. This was the original foundation of elements which has now been expanded by strategists like Kaihan Krippendorff to a more comprehensive, ten-point framework designed to reveal hidden opportunities and build a resilient, multi-faceted strategy.
The 10 P framework serves as a strategic lens, guiding organizations to examine every aspect of their business, from internal processes to their ultimate purpose. By systematically analyzing Positioning, Product, Pricing, Placement, Promotion, Physical Experience, Processes, People, Purpose, and Partnerships, companies can move beyond incremental improvements and architect breakthrough growth.
Here is a detailed exploration of each of the 10 P’s.
The Foundational Four + Six
Krippendorff’s model builds upon the original marketing mix, expanding the original 4 Ps for modern challenges.
- Product: This is no longer just about the tangible good or service. In today’s economy, product innovation means considering the entire solution you provide. Is it a standalone item, or is it part of a larger ecosystem? How does it solve a deeper customer need? Companies like Apple excel here, not just by selling an iPhone (the product), but by offering a seamless experience within an ecosystem of apps, accessories, and cloud services.
- Pricing: Strategy here goes far beyond a simple cost-plus calculation. It’s about how you capture value. Disruptive pricing models can be a powerful competitive weapon. Consider the shift from one-time purchases to subscription services (like Adobe Creative Cloud), freemium models that lower the barrier to entry (like Spotify), or dynamic pricing algorithms that optimize revenue in real-time.
- Placement (Distribution): How does your product reach your customer? This “P” challenges you to innovate your channels. While a physical storefront was once the only option, today’s landscape includes direct-to-consumer (DTC) e-commerce, omnichannel retail that blends physical and digital, and platform-based distribution through marketplaces like Amazon or the App Store.
- Promotion: This is not just about advertising. Promotion encompasses every way you communicate and engage with your audience. Effective promotion today is about building community, creating valuable content that educates or entertains, and fostering authentic conversations on social media. It’s the difference between a loud-hailer and a genuine dialogue.
Expanding the Strategic Lens
Krippendorff and other strategists, such as Al Ries, expand the core four above with additional internal and experiential dimensions. Here are the next six:
- Positioning: This is the battle for the mind. It’s the distinct space you occupy in your customer’s consciousness relative to your competitors. A strong positioning strategy carves out a defensible niche. Volvo, for example, has masterfully positioned itself around “safety,” a single word that has guided its engineering, design, and marketing for decades.
- Physical Experience: In an increasingly digital world, the physical and sensory experience has become a key differentiator. This includes the ambiance of a retail store, the satisfying “unboxing” of a new product, the intuitive design of a website user interface (UI/UX), or even the feel of a company’s packaging. It’s about engaging the senses to create a memorable and positive brand association.
- Processes: These are the internal engines that drive your business. Innovating your processes can lead to dramatic gains in efficiency, cost reduction, and customer satisfaction. This could involve automating routine tasks, streamlining your supply chain, or redesigning the customer support journey. Amazon’s one-click ordering and sophisticated logistics are legendary examples of process innovation.
- People: A company’s greatest asset is its team. This “P” focuses on cultivating a culture that fosters innovation and empowers employees. It’s about hiring for attitude and training for skill, creating psychological safety for risk-taking, and aligning your team to deliver exceptional customer service. The expertise, motivation, and creativity of your people are a nearly inimitable competitive advantage.
- Purpose: This is the “why” behind what you do, beyond just making a profit. A clearly defined and authentic purpose acts as a guiding star for the entire organization. It attracts and retains top talent who seek meaningful work, builds deep loyalty with consumers who want to support brands that share their values, and fosters long-term resilience. Companies like Patagonia, with its mission to “save our home planet,” embed purpose into every decision—from product materials to political activism—creating a fiercely loyal customer base and a powerful brand identity.
- Partnerships: No company can succeed in a vacuum. This “P” encourages leaders to think beyond their four walls and build a robust ecosystem of strategic alliances. Partnerships can accelerate innovation, open access to new markets, and provide critical capabilities that would be too expensive or time-consuming to build in-house. This includes everything from joint ventures and co-branding initiatives to building platforms that third parties can innovate on, as seen with the success of Salesforce’s AppExchange or Apple’s App Store.
The journey from the classic 4 P’s to the expanded 10 P’s is more than just an academic update; it’s a fundamental shift in strategic thinking. While Product, Price, Place, and Promotion remain crucial, they represent only the visible part of the iceberg. The true, lasting advantage lies in the integration of the deeper elements: the culture of your People, the efficiency of your Processes, the emotion of the Physical Experience, and the guiding star of your Purpose.
Ultimately, this framework is a call to action. It challenges leaders to look beyond the surface and ask deeper questions about every facet of their organization. By systematically analyzing each of the 10 P’s, any business can move beyond temporary tactics and begin to architect a multi-dimensional, resilient strategy that drives the breakthrough growth it seeks.
Now, let’s see how to put this into practice. (Click to go to Part II.)
