People, Planet, Profit, Price, Promotion, Product, Place and Performance
Anybody who has taken a class on entrepreneurship has been confronted with the 3 P’s of sustainability, also known as the Tripple bottom line: People, Planet, Profit. Likewise, anybody with any formal schooling in marketing has heard of the 4 P’s of the Marketing mix (Price, Place, Promotion, Product). Some authers later added People and Performance to that marketing list.
The first set of P’s is interesting. The name itself (tripple bottom line) refers to a company’s “bottom line”, meaning the net earnings of a company. It seems that John Elkington thought it was necessary to use accounting lingo in order to make people feel accountable for their community (People) and their environment (Planet).
The second set of P’s are even more interesting. This list suggests that you can Market (and sell?) a product or service without taking into account the customers, the people you want to sell your stuff to. The first two questions I would ask in a marketing discussion would be: “Which Problem are you solving? Who are the People who will buy your product?” There is no mention about that in the original list of 4 P’s.
I think that many people in industry are missing an important point. I wanted to clear this up by introducing a new concept in business:
The 6 universal P’s: people, people, people, people, people, people.
Why do you want to be profitable? To reimburse the People who provide your capital, to pay wages of People who work for you. Why do you want to have a clean Planet? So that the People of current and future generations have a safe, beautiful and healthy place to live in. Why do you want to figure out a Price for your product? Because it balances the interests of the People who buy from you with the interest of the People who work for you and provide you with capital. And so on and so forth… Make no mistake. Even though this may sound very soft and new-agey, it is very fundamental and it is the only way for long term success.
And yes, the dice in the picture are real. They are not photoshopped.