Friday, May 20, 2005

Straying off the beaten path a little bit, I wanted to post a note that serves as a different kind of catalyst for formulation of a business opportunity. It is the basic premise of marketing as many academicians would refer to it. It is the Four P's:
PRODUCT
PRICE
PROMOTION
PLACE

Product - is/are the products or services you offer and are they unique, superior, easier to use.

Price - is how much to sell your products for, based on your cost and value to potential customers.

Promotion - is communicating to potential customers to create an awareness of your business.

Place - your business location and methods of distributing your products.

Thinking about new media opportunities by applying the principles of marketing, what can you conceive as a readily marketable opportunity for us to pursue?
-KM

2 comments:

Massive Media said...

When it comes to mobile phone interactivity, I'd like to offer the "FIVE P's of Participation TV"

1) Promotion
2) Product
3) Place
4) Price (billing)
5) Partnership

NMThoughtLeader said...

Thanks Massive Media for the 5 P's of participation. I'd like to place emphasis on the fifth P - Partnership. It became so evident to me during a recent conversation with one of the C-level executives at US Cellular when talking to her about their process for sourcing content. She just about cut me off in mid stream to say that you have to find the right partners and for content providers seeking to get onto the carrier decks, those partners are mobile solution providers (i.e. developers of J2MEE, BREW, and WML/WAP apps), but the landscape is not that cut & dry because some entities in the mobile landscape try to play multiple roles, and taken on the daunting task of content aggregation as well as solution provisioning, which muddies the waters greatly. As a content provider it is my recommendation that one must still establish relationships directly with the carriers to know who they've taken solutions and content from, then establish partnerships with those firms, and of course make no exclusive licensing arrangements, since there are still multiple platforms on which to make your content available.
-KM