So according to Scott in The New Rules of Marketing and PR, the four P's of marketing are outdated and the new technique I guess if to focus on the buyer rather than the product, or more so than. I understand the definite need to focus on the buyer and their wants and needs. However, as a marketing major, I must say that the four P's are still just as important to the successfully marketing and selling the product to those buyers. It's essential that you know who your target market is and who will or could be interested in your product offering, and with that you can make the important decisions that you need to about the product, place, price and promotion.
I checked out Pleo, the dinosaur robot baby, online, which was the example used at the end of chapter ten. It was a very interesting product and one where really having a defined persona profile would be useful. But even with this product, I would still say that the four P's are important once those profiles are determined and you can tailor the four P's to make the product as attractive to your potential buyers as you can. With Pleo, though they initially though it would be more for 7 to 12 year old kids, they found adults to be their main target because of the robotic, complex, technological nature. This is the reason, I think that the price tag can be the $469 that it does. I wouldn't think that most parents would run out and buy something that expensive for their kids just as a toy. The company also focused it's promotions in tech magazines and people created blogs and websites about them too. The product was very interesting, so if you haven't, I recommend that you check it out here!