This document proposes a new 4 Values Marketing Mix model as an evolution of traditional marketing mix models. The 4 values include: 1) Valued Customer - Focusing on strategic customer segmentation to identify the right target customers. 2) Value to Customer - Delivering superior value propositions and benefits to customers over competitors. 3) Value to Society - Providing value and benefits to society as well as informing customer decisions in an environmentally friendly way. 4) Value to Marketer - Generating tangible and intangible benefits like profits, brand value, and competitive advantages for the marketer.

1. REFLECTION ESSAY ON 4 VALUES MARKETING MIX MODEL
By
Anand Prabhudesai ( MBA-EE 14-17 Batch; PRN – 14020448076 )
Assignment 1 – Product Management – Semister 2
Introduction
The Marketing Mix principles in Marketing have undergone an evolved transformation
over time. This has happened mainly due to new products being developed over years,
new marketing techniques emerging due to technological advances, the internet
revolution and the changing paradigms in the basic demand and supply phenomenon
between 2 main players – the Customer & the Product.
New Marketing Mix theories have been explored since the introduction of the 4P’s
of Marketing due to the above reasons and hence the scope of the Marketing Mix has
expanded.
The latest theory being the 4 Values Marketing Mix Model to add an entirely new
dimension in the strategic marketing.
Need for new marketing mix model
Let us start by quickly going through the marketing mix models so far.
1) The traditional 4 P’s of Marketing
2) The 7 P’s of Marketing Mix
3 more P’s were added over time to the traditional 4 P’s due to seen shortfalls in
addressing other parameters in the marketing forces.
The 3 P’s added were –
Physical Environment
Process
People

2. 3) The 4C’s of Marketing Mix
This model was more consumers oriented and better applied to Niche Marketing.
4) The 4S Marketing Mix
With the evolvement of the Internet a 4S model was discussed throwing light on
web marketing strategy.
Service Dominant
Social Interaction
Superior Knowledge
Sales Engagement
Or Scope, Site, Synergy, System

3. 5) 4 E’s Marketing Mix Model
Experience
Environment
Equity
Evangelism
However, the creation of new ‘4P’, 7’P’, `4C`, `4S` and 4`E`s could not offer the most
appropriate marketing mix tool to the practitioners which will be mutually beneficial to
customers and marketers. Every stake holder involved in the marketing process looks for
`Value`. The customer enters in the marketing process for better `value` for his money
through `Value to Customer`. The marketers would like to concentrate on the `valued
customer`. The prime objective of any business is to seek value from the business `value

4. to the marketer`. The marketer and customer would like to keep society`s interest intact
through `Value to society`.
So there is need to study entire marketing process through approach of 4 Values Model
to add entirely new dimension to strategic marketing.
Proposed 4 Value Model
The new 4 Value model below has to be tested in the market
1) Valued Customer
‘Who is your customer’?? This is the most important question and to answer this
question one needs to do identify them through strategic segmentation.
Today’s new age Customer is more complex, difficult to segment easily, is tech-
savvy and is a quicker decision maker when it comes to choosing a product to the
vast information and options available at his disposal.
One also needs to understand the most important parameter that plays role in any
customer’s mind – value for money!! Today’s customer is very price conscious
Hence targeting your Customer base exactly is the key to any marketing
campaign.

5. 2) Value to Customer
What is being offered to the customer?
Value Proposition is the new age mantra of all marketing gurus.
What value you bring across the table to your Customer?
How does your product or service give Better Value to your customer than your
competitor?
3) Value to Society
What is being offered to the Society?
This will help the customers make informed decisions.
Marketing also include more practical information to assist in making a purchase,
such as addresses, phone numbers, product release dates, store hours and Web
addresses which results in optimizing customer resources and time. The brand
image and brand equity helps customers to rely on trusted brands and the
consistency that comes from brand loyalty. The value to society allows consumers
to make informed decisions without as many risks.
Marketers need to concentrate on “social good", even though he is in
"commercial marketing". An environmentally safe product which protects
environment is the biggest gain to society in modern marketing.
4) Value to the Marketer
What will it bring to the Marketer?
The marketer markets the products and services to fetch profit, but it also create
brand value and brand equity, corporate image for marketer. The tangible and
intangible benefits fetched by product or services are prime importance to the
marketer for survivor and competitive advantages.
*********************************************************************
Signifcance of the 4 Values Marketing Mix
Strategic Segmentation - In contrast to the 4Ps, the 4values changes the focus of
marketing to be more strategic, cross-functional, and bottom line oriented. This is what
companies are demanding from their marketers.
Scope for innovation in marketing - Marketing innovation can be fostered by
continuously asking questions along the line of 4Values.
Are there customers who are unhappy with the industry or not served at all?
What attributes does the industry currently offer that could be eliminated or what new
attributes could be offered to customers for the first time?
Is it possible to develop a radical product that would either offer a much superior
solution for the customer and/or a much lower cost?

6. Societal approach gains significant importance - In the era of pollution and Carbon
Emissions, environment friendly and safe products are of prime importance to society.
By enlarging your perspective beyond the customer to society in general will go long
way in making an organisations society friendly.
Academic research -The new 4Value model will offer an opportunity to the
academicians and researchers to study marketing from new perspective.
A new perspective of customer – Practitioners can certainly get a new perspective of
marketing which will certainly bring holistic approach in marketing
**********************************************************************
Now instead of applying one product of choice to the above model, let us take example
of different products or services of recent times and analyze them from the 4 Value mix
angle.
A) Valued Customer
 Flipkart’s Bansal brothers must have done an extensive market research to
ensure they target the right customers. They sensed the pulse
&requirements of the tech-savvy IT & net-friendly customer and created a
business model none in competition have successfully emulated.

B) Value to Customer
 The incandescent light bulb was replaced by CFL bulb 10 years back. Now
CFL is getting replaced by LED bulbs. Companies like Philips, Wipro,
Syska LED have continuously given technologically superior and energy
efficient Lighting solutions throughout this technological change in the last
10-15 years. Syska LED’s recent marketing campaign is a sure shot hit and
will ensure that every household replaces their old light bulbs with LED
bulbs in no time. This is bringing a value proposition to the customer- that
however the technology changes, we are there to offer you the latest
solutions.
C) Value to Society
 When Ratan Tata conceptualized the Nano project, he wasn’t thinking of
profit margins. He wanted the small Indian family to travel safely in an
affordable 4 wheeler rather than the risky 2 wheeler bike rides. This is
thinking for the society and then channelizing it as a business model
successfully.
 Procter & Gamble has initiated a Girls education campaign in which some
part of any P&G product sale goes to the welfare of the girl child.

7. D) Value to the marketer
 All companies are in the market to achieve their toplines and bottomlines &
strategic marketing plays a key role in ROI calculations.
 But what is more important is the brand creation and the brand image of the
company which will drive in continuous sales for the company. All
marketing evangelists are trying hard to retain their companies’ value
through effective brand marketing.
 Take for example – brands like Bisleri, Xerox, Google. What are these
companies or products? Packaged drinking water, photocopier machines
and a Search Engine Optimizer.
 Or the value an Indian Customer sees in the word TATA. Be it any product,
Tata Steel, Tata Tea, Tata Automobiles, Tata communications, Tata (Taj )
hospitality – the name spells out a confidence, a tradition, a culture.
Conclusion
For any MBA marketing grad – the 4P’s will remain like the ABC of the English
language. But various marketing mix theories like the ones stated above and the 4V
theory discussed in detail will provide a guiding tool or a framework to study key
concepts in Marketing and all its allied forms.