The fifth P

 

The four P’s have been part of marketing theory for many years. More recently, there has been a lot of discussion about the need to add a fifth P that addresses an intangible but essential element of successful marketing. Some call it people, some process, others participation or passion. It boils down to the importance of customers and relationships in your marketing strategy.
 
"You are not your own customer, so we don't care what you want," says Ohio farmer Jackie LeBerth. "You need to put on your customers' shoes. What makes them let go of their hard-earned cash to buy what you have to sell?"
 
Figure out the benefit you are trying to sell and the customer to whom you will sell it, and then work to communicate that benefit to the customer, LeBerth says. You can market that benefit by doing research on a product and becoming an expert.
 

 

New Farm Profile

Richard DeWilde, of Harmony Valley Farm in Wisconsin, emphasizes three key points about working with buyers: Be dependable, be timely and deliver a good product. Richard says his product "sells itself," but the buyer isn't just purchasing the product. He or she is buying into a dependable working relationship.