Quick pop quiz - what are the 4 P's of Marketing? Give up? Product, Place, Price and Promotion. Without slogging away on a boring marketing course, here is a summary; Product are the features, the size, color, specifications. Place is where to buy the products and where it is placed within the competition. Price is the value and depreciation and Promotion is where to reach your audience and with what you entice them.
But I propose adding a 5th P. Psychology. That's a bit lengthy - how about Perception? Here is what I am going for...the emotional/spiritual/social/inspirational aspect of a product or service. It's the 'P' that relates to the senses. How does this product's purpose emotionally connect with the buyer? The definition of Perception is the way that you notice or understand something using one of your senses. Isn't that the best way to make that connection between your product and your buyer?
Case in point, I'm in the process of selling my dining room table on the traditional online outlets. I diligently did the 4 P's; I cleaned and polished it, researched the specifications, calculated the depreciation and did a quick competitive analysis. But I didn't feel that work reflected the true story of the table. What about the emotional aspect? Could I include connection to the senses? Could I include the sweet sounds coming from the dragging of the chairs, signaling a family dinner is here again? Or the sound of 'Happy Birthday' being sung to a beloved family member? Could I include the fresh smell that comes from polished wood? Or the feel of the detailed carvings in the wood as you lovingly polished it (okay, more labor some than loving, but going over all of the nicks and scratches was living taking a trip down memory lane!)? This is more than just a table. It's family memories being made. It doubles as an awesome hideaway tent and provides plenty of space for a fun family game night.
I'm conducting a test. First I have posted this table with just the facts. If that doesn't sell, I will be mixing in some emotions that will hopefully inspire a buyer!