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Starting-Up the 'Outside In' Blog

As Winston Churchill had famously spoken about 'never wasting a good crisis', I am taking some inspiration from the same in the '...

The 7Es of New Retail

The inspiration for this short post comes from an article covered by the venerable OgilvyOne sometime back on how the 4Ps of Marketing – Product, Place, Price, Promotion – are losing relevance in today’s Marketplace and are being replaced by the 4Es of Marketing: Experience, Everyplace, Exchange and Evangelism

The Concept
Recall the first lessons from Retail 101 and we know that the Marketing 4Ps got extrapolated to the 7Ps of Retail: Product, Price, Place, Promotion, People, Process and Physical Environment

On ‘New’ Retail and 7Es
These are 7Es of 'New' Retail in the Digital era: 


7Es of 'New' Retail in the Digital Era
Product > Experience
Price > Effectiveness (read: Elasticity)
Place > Everywhere
Promotion > Exclusivity
People > Empowerment
Process > Efficiency (read: Emphasis)
Physical Environment > Excitement

The biggest question to adapt to this change is: How do we operationalize it? Hopefully, we will get those answers over the next few posts. Cheers. 

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