4Es - The music marketing mix
Many of us who studied marketing are familiar with McCarthys marketing mix. How his four Ps and the right ingredients of product, price, placement and promotion help to position a brand on the market. Fifty years later and still many marketing departments follow a model that was meant for a world before branding, new technology and hyper competition changed everything. Don’t get me wrong, the four Ps still work great for products but in today’s world where a company selling experiences, association and lifestyles more and more, this model is long since outdated.
Branding today is about positioning a company in the mind of the target group. Companies today focus on building a more emotional and exclusive brand that offers an experience that engages their audience. This is what I named the four Es in brand communication. Just as in McCarthy’s model, each brand needs its own unique recipe. How these ingredients are to be mixed depends on what type of brand it is and in which segment it’s active. For a brand with retail stores the experience is probably more important than for an Internet brand where perhaps engagement is in focus.
In the following four posts I will present how the four Es model works in music branding. How the right music mix helps a brand to be more emotional, engaging, experience based and exclusive. I will start next week with the first post on emotions.
