FOCUS - READER'S DIGEST SUPERBRANDS SEMINAR: Perception: fifth 'P' of marketing

<p>The traditional '4Ps' of marketing - product, price, place and </p><p>promotion - is an inadequate base from which to launch and maintain a </p><p>brand in today's world of virtually infinite choice and advertising </p><p>clutter. </p><p><BR><BR> </p><p>According to Mr Steven Howard, president of Howard Marketing Services, a </p><p>fifth 'P' standing for perception is required to maintain a competitive </p><p>edge. </p><p><BR><BR> </p><p>"The competition can mimic the product, price, distribution strategy and </p><p>promotion. However, it cannot mimic corporate personality. </p><p><BR><BR> </p><p>"It is ultimately important, therefore, to take a good hard look at the </p><p>corporate brand - how consumers perceive you and your products and </p><p>services," he said. </p><p><BR><BR> </p><p>Corporate branding provides organisations with more than just a mission </p><p>statement and a logo, Mr Howard said. </p><p><BR><BR> </p><p>"It can, if used properly, demonstrate to the world that an organisation </p><p>has professional leadership, high-calibre employees and define its role </p><p>within an increasingly competitive marketing environment." </p><p><BR><BR> </p>