Extra Marketing Mix P - Pace


 
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Extra Marketing Mix P - Pace
Rajesh Vyas, India
How about Pace? I.e. The speed of introduction of new products.
Won't pace be a factor to be considered to get the First Mover Advantage?
Marketing success is a function of Pace in a big way.

 
 
Use Marketing Mix only After Product Launch
Sebastien De C, Mauritius
The marketing mix is only to be dealt with a product that is already on the market. It is only after the launch of the product that you may consider the marketing mix, not before. It is after its launch that you will decide how to position yourself on the market and which of the P's you will place more importance. Im not arguing that the speed to which you launch a product before competitions gets into play is not important, but for me it does not form part of the marketing mix.
 

 
Extra Marketing Mix P - Pace
Ahmed Hussain Khan, Lecturer, Pakistan
I am teaching marketing since 1992 and I've taught PACE as a possible marketing mix extension too.
Pace is really important in services marketing, especially for hotels, courier services, hospitals, etc.
 

 
Extra Marketing Mix P - Pace
Jaap de Jonge, Editor, Netherlands
The Marketing Mix is a tool for marketers to assist in defining the marketing strategy by adjusting certain controllable variables (all starting with the letter P).
The suggested extra P - Pace seems crucial to me in the time we now live in. For 2 reasons:
1. On an industry level it may be important to be very fast or faster than your competitors to better serve a customer (such as @Ahmed described).
2. On a product / service strategy level, being able to have shorter and shorter product/service improvement 'cycles' is also very important. We now need to improve our services and products at internet speed, meaning constantly and each day.
Sebastien may be right in that the marketing mix is only meant to deal with products that are already in the market and are controllable by the marketer. And indeed the second aspect I mentioned is not entirely up to the marketer to control. Strategic choices and focus at the corporate or business level need to ensure that the speed and quality of the product / service improvement processes are improved by a multitude.
But even if is perhaps for a major part outside the influence/power/responsibility of the marketer, I still vote to include it as an extra P. Because it is so important for businesses and influences the work of the marketer a lot.
 

   
 

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