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21P methodology

Automotive

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Biotechnology

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Chemicals

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Cloud Services

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Financial Services

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Biotechnology

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Chemicals

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Cloud Services

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Financial Services

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Financial Services

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A unique methodology for

International Business Development

The seed of "modern" marketing was planted in 1948 with an article by Prof. James Culliton of Harvard University "The Management of Marketing Costs". In it, he describes marketers as 'mixers of ingredients'.

The roots continued to grow in 1953 when Neil Borden, also from Harvard, gave a first definition of "Marketing Mix".

In 2002, Kalyanam & McIntyre stated " … the marketing mix is a collection of thousands of micro-elements clustered together in order to simplify managerial activity".

in 2010, Michael Porter described Marketing as "... an extraordinarily complex, integrated, multidimensional problem ..."

My 21Ps methodology has been inspired by these pioneers and other principles below. 

 

Over several decades, I have taken these marketing mix "ingredients" and confronted them to the reality of real international business development cases, adapting them slightly where necessary, as world markets and technology evolve.

 

They still hold firm for all the Products and Services that I have tested so far.

4P - 7Ps

As for many, I was first introduced to Jerome McCarthy's original 4Ps which date back to 1964.

  1. Product

  2. Price

  3. Place

  4. Promotion

Many also talk about Bernard  H. Booms & Mary J. Bitner's 7Ps dating from 1981, about the 8Ps or other variations in more recent times.

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BCG matrix

The Boston Consulting Group matrix was devised by Bruce Henderson in the late 1960s, to help understand the maturity of products based on market share and expected market growth. 

First-mover advantages and barriers to entry have become increasingly important to integrate into future business development strategies.

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SWOT analysis

A combination of BCG and SWOT tools help to better assess the factors governing any given market, leading to making the best decisions when setting the company's or business units vision, resources and milestones.

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TPS – Toyota Production System

Lean production methods originating in the automobile industry are also key ingredients in making the "best" product possible.

The notion of "best" needs to be determined in advance, depending on the perceived needs of the market, and the resources available for production.

 

The determination of the Minimal Viable Product is also key, where the quality of the product be good enough to start selling, although not perfect. The quality and features can be improved and adjusted over time, in particular, when integrating customer feedback.

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TQM - Total Quality Management

Philip Crosby's TQM and associated principles are also important to incorporate into a business strategy. 

This involves the reduction of the cost of non-conformity to a maximum. Some aspects of costs are difficult to assess. How do you quantify the loss of perceived quality by customers when they are confronted with problems? How do you solve these problems? And better, how can you prevent them in the first place?

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Lateral thinking

Edward de Bono was one of the first to write about Lateral Thinking in the early 1970s.

The modern-day equivalent is "thinking outside the box".

Doing things differently is not just for

paradigm-changers like Google, Uber or Tesla,

but can also be used in highly competitive me-too

product and service markets. 

Lateral thinking needs also to part of a company

culture, where team-work and common team thinking

(including brain-storming) always yield better results

than the sum of the individuals.

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The 21P

Over many decades, the 21P IBD model was refined into its current format.

It is meant as a guideline, as a recipe, to help achieve the best results possible. However, as with cooking, a list of ingredients is not a guarantee of success. 

So in addition to these 21 main ingredients, there is also associated know-how of how it all needs to be implemented. A certain savoir-faire.

Do not hesitate to contact me for more information.

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