The 5th P

STAND OUT FROM YOUR COMPETITION!

Marketing has been described as the selection and development of the right products, determining the right price, developing efficient placement or distribution channels, and all aspects of generating or enhancing demand for those products, such as advertising and promotion. These basic principles are commonly referred to as the four "P's" of marketing:

  1. Product
  2. Price
  3. Placement
  4. Promotion

However, Cory Treffiletti, President of California-based Catalyst S+F, identified a "fifth P" that he argues is, in fact, an integral part of nearly every successful marketing strategy. The "fifth P," Treffiletti suggests, is what unites a community and motivates individuals; the "fifth P" inspires desire and instills loyalty; it encourages word-of-mouth. The "fifth P," Treffiletti says, is passion!

"In today's world, passion is truly one of the most under-appreciated and most important elements of a marketing campaign," says Treffiletti.

The suggestion that passion is a key element of a marketing plan is consistent with several accepted marketing concepts, such as the importance of communicating in terms of benefits, and the observations of economist Elliot Ettenberg profit comes from satisfying people's wants!

The significance of positioning is also relevant. Defined by Barron's Business Guide as the "portion of a market strategy that attempts to control the perception of a product or service relative to competitive products or services," a well-crafted positioning statement is filled with what each marketer believes to be the unique, outstanding attributes of his or her product or service; it is filled with each marketer's passion!

Distinguishing your approach
The critical element of this point is, very simply, that passion is contagious. It attracts; it sells! Passion is persuasive! In his essay, "The Greatest Element of Human Persuasion," author and marketing expert G. Harold McLeod contends that today's buyers are not persuaded by mere facts or logic, but rather by the seller's or marketer's enthusiasm (passion!) and conviction.

"Your conviction, your enthusiasm, your belief in what you are doing is what sells. Your feelings, your emotions, your honest interest in your product and your prospect are what persuade," says McLeod.

When your customers and prospects evaluate your message, they will, hopefully, recognize and relate to your uniqueness and your passion.

 

Put Passion into Your Sales Presentations