The Marketing Peg

Interning at a prestigious FMCG really is an eye-opener and made me understand more about the marketing obligations and activities of marketing in Singapore. (I'm actually referring more to those who are working for huge MNCs with the headquarters situated in a country with 4 seasons). "Obligations" is the word used because marketers in Singapore... well... don't really have a lot of say in the marketing mix. For non-marketers, marketing mix means the 4Ps which equate to Product, Price, Promotion and Place. We are mostly told what to do... in a way.. I'll explain. Product I've learned, that when working with a large MNC, there are regulations and guidelines which have to be (strictly?) adhered to. Let's talk about the first P - Product. The headquarters (let's just assume that this is the US for convenience sake) sends you the product that they have come up with - the product is not fully developed yet, of course. Excellent, you get to try it out and g...

In the past, we were all so focused on the traditional type of marketing. Usually with its main focus on products, and of course, the most popular strategy in marketing are the 4 Ps and how you manage them. The 4 Ps , they also mean product, price, promotion and place . I've been so familiar with that ever since my MKT1001 Principles of Marketing course in NUS. Never forgot about that. In my basic marketing class, I was taught of how to position the product. Many models such as the Ansoff Matrix was applied. Everything was about the product : How you should design the product , whether its functional, how much one should price it, what advertising strategies are needed to promote the product and where you should sell the product . The main focus was... the product . Then when I come to Copenhagen Business School and took my Advanced Service Marketing course, it is all about the service - the experience. Marketing has shifted into a new paradigm that involves the service . Everyt...