10 P's Marketing Formula
THE CONCEPT OF MARKETING MASTERY
(P.O.W.E.R. MAP MODEL) FOR START-UP ENTREPRENEUERSHIP
Azizan Osman, PhD
Richworks Group, Shah Alam
azizanosman@gmail.com
ABSTRACT
This paper discusses how innovative marketing model (P.O.W.E.R. Map Model) and inspirational leadership contributes to a success of start up business entrepreneurs. This paper examined the personal, professional, and developmental impact of introducing a constructive developmental perspective to entrepreneurs or “would be entrepreneurs” programme in marketing business and leadership development conduct by Azizan Osman as Richworks Groups’ CEO. The self-designed instrument dynamic and innovative 10 P’s marketing knowledge developed by Richworks Groups, use of shared entrepreneurs leadership platform . Marketing Mastery 10 P’s P.O.W.E.R. MAP Model is a professional innovative ideas with a creative approach of Azizan Osman’s 10 P’s Model for Marketing. The 10 P’s Model was introduced as an extension of the old 4C and 7 C Marketing model. This models “P” letter is born in the eagerness of moving the traditional Marketing mix model from the productions focus to the Customer (or consumer) focus. This simple mapping of words created a shift in marketing management thinking and strategy. Modern economies have shown this paradigm shift towards customer satisfaction as a priority. Marketing Mastery 10 P’s P.O.W.E.R. MAP Model born to explain how successful marketing organization deal of strategy that could increase business profitability in a short period Marketing Mastery 10 P’s P.O.W.E.R. MAP Model is a professional representation of the Compass diagram with the concepts that describe the 10 P’s: Problem, Potential, Market, Research ,Solution, Demand, Product, Competitors Practices, and Proposal(10 P’s refer to Bahasa Malaysia vocabulary). Therefore the conceptual paper proposed the study of the development the marketing concept and strategize new give solution in business world. Consequently, the study predicted to transform business performance and enhance entrepreneur to effective marketing solution.
Keywords : P.O.W.E.R. Map Model, Start-up entrepreneurship, Marketing Mastery
- INTRODUCTION
Marketing is a continually evolving discipline and as such can be one that companies find themselves left very much behind the competition if they stand still for too long. Marketing is the great power in business yet a large percentage of business that suffered losses mostly experienced difficulties in marketing. Good marketing is the appealing factor the entities customer to buy products, In many business, their way in bringing in new customers or retain old customer is closely related to marketing strategy (Azizan,2013). It is important to study how customers' behaviours and preferences are affected by the marketing campaign. Integrated Marketing Models be introduced to empirically study of implementation and responds of participants in online and offline social entrepreneurs. These new marketing model are to enable the start-up entrepreneurs mastering in all steps in marketing operations. Using measures such as problems, potentials, market, research, solution, requirements, products, competitors, attempts, and proposal. Thus, the development of new marketing model called an Azizan Osman’s 10 P’s Integrated Marketing Model (AIMM) is to help business owner and entrepreneurs in their marketing campaign.
Most entrepreneurs today failed because they also failed in marketing. In the research conducted, 90% of entrepreneurs do not master in marketing even though they have been in business for over more than 10 years. This is not strange, but quite disgusting if left unattended (Azizan, 2013). Marketing also teaches entrepreneurs to understand the psychology and rhythm of their market. Before starting any marketing campaign, it is important focus to conduct a research on their needs. After discovering that a large majority of business are flopping fast in Malaysia because of the failure to understand the marketing strategy, thus through the Marketing Mastery (POWER Map Model), are really benefit especially for the start-up entrepreneurs. (Azizan, 2013). Murphy (2010) noted that marketing channels have evolved over time, and there have been different means by which companies market their products to consumers. The traditional modes of marketing include purchased air time (e.g., radio, television, telephones) or space (e.g., print ads). Although these channels are not completely obsolete, the Internet and social media provides advertising with a more targeted and expanded role.