Question

Research conducted by Harvard Business School found that the traditional 4 Ps model:
a. helps businesses promote themselves as important sources of information and problem solving.
b. is narrow and outdated.
c. is highly relevant in a modern business environment.
d. under-emphasizes product technology and quality.

Answer 1

Answer:

B) is narrow and outdated.

Explanation:

The article's name is "Rethinking the 4 P’s" and it summarizes a 5 year study that involved more than 500 top level managers across the world. That study doesn't say that the 4 Ps are useless, it states that they are outdated. The study focused on the B2B market and it argues that the 4 Ps must be restated:

• S ⇒ products to solutions
• A ⇒ place to access
• V ⇒ price to value
• E ⇒ promotion to education