Proceedings of 27th International Business Research Conference
12 - 13 June 2014, Ryerson University, Toronto, Canada, ISBN: 978-1-922069-53-5
The “New” 5th P of Marketing: Philanthropy
Philip Fioravante
The business marketing concept of the 4 Ps of Marketing were introduced several
decades ago and focused on rudimentary elements of how companies employ
Product, Price, Place and Promotion in the marketing mix. Each has been portrayed
as having substantive value in how firms achieve performance in the marketplace.
Actually since its inception, in the 1960’s era, there have been iterative
developments of the classical 4Ps to six and even 8Ps. In this particular paper, the
“new” element that needs to take a forefront position is philanthropy. In its rawest
form, philanthropy can provide firms with a plethora of marketing considerations in
developing a holistic new-age approach to strategic marketing.
Track: Marketing
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Dr. Philip Fioravante, Department of Marketing & Management, Walsh College, United States.