You can't develop products and then try to sell them to a mass market. He wants to replace the Four P's with his Four C's. With such a high failure rate, Bob notes that something isn't working with our 'mindset'. According to Bob, 80 percent of new products fail each year. Are Product, Price, Place and Promotion elements of this marketing formula something from the past?īob Lauterborn, professor of advertising at the University of North Carolina has tracked the success of new products introduced into the U.S.
Many people who have taken a marketing course have learned about the '4 P's' of marketing.
