This fifth "P" People is also relevant to industrial products. Philip Kotler added the following "2Ps" for entry into restricted markets.

In present scenario, multinational companies had to manage public opinion and local politics to enter restricted market like China, Russia, India etc.

According to the opinion of some marketing strategist in this present era of globalization some other 'P's are also relevant, these are.

* Position
* Profit
* Plan
* Performance
* Pace & Passions
* Patience

Customer Satisfaction to Customer Value Management:

The word value too often means cheap. It should mean satisfaction .Value should always measure in terms of total benefits & total cost. Value for money is cheap but added value is expensive. The meaning of term Value Marketing is more than the price cutting, low margins, giving extra quantity & low budgets. Increased international competition makes the market wider but tougher & marketers are continuously trying for enhancing the customer value. Customer satisfaction typically used to be monitored by the marketers and they used to take the credit when it wept up and had to accept the blame when it went down. But the fact is that consumers will choose that company which offers better value for their money. Providing better value to customers is the job of the whole organization. This is a function of strategic importance, which cannot be left in the hands of a few marketing people. This has been managed by a team of cross-functional experts and monitored the top management.

The Rise of Sports Marketing:

With television broadcasting and savvy sports agents as allies, sport has become an important vehicle for marketers to hawk their products. The sports marketing industry that includes broadcasting, endorsement, sponsorship, merchandising and ideas is growing in stature and relevance. Sport marketing is a sub-section of advertising, assimilating the use or association of sports with brands to promote the brand. It includes creatively using sports to promote recall, use or brand attributes, as per Pitch – Group M estimate, the annual size of sports marketing business in the country is Rs. 900 crore. Sportspersons display attributes that people & brand would love to stand for. Determination, humor, style and flamboyance and attributed that marketers covet in order to establish a connect with consumers.

A Shift Towards One-On-One Marketing:

While the earlier paradigm aimed at meeting the needs of segments of consumers, the new paradigm treats every customer as unique. The development of technology has made it possible to address the needs of individual customers, the day may not be very far off when a customer wanting to buy a toilet soap may have to put his/her hand into a scanner which will sense the skin complexion and pop out a pouch of liquid soap that is ideally formulated to suit his/her skin.

Virtual Marketing:

Everything can be sold on the Net. With visionaries we will soon find villages connected to computer networks. No marketer can afford to ignore this medium. Most of the people who surf the net for fun are not computer literate.

Standard of Living to Quality of Living:

There was a time when people felt it very important to acquire a car, TV, fridge, mobile and a washing machine for the house. A number of people may be planning to add an air-conditioner and a PC to their house-hold items. All these add to the physical comforts. But after getting all these people look for improvements in the quality of their living. Spiritual pursuit, environmental protection and universal brotherhood are things that really interest that really interest people who have attained a standard of living.

Innovation is central to Marketing:

Innovation is more than creativity; it is the commercial realization of creativity. Consumers like what they have but also crave change. The word "New, Improved, Better" can influence the customer preference. Innovation is the life blood of Marketing. Creative ideas are valuable but the greater part is harnessing them to profitable productive change.

Emphasis on Personal Selling:

Now personal selling is an organic part of the business fuelling not only customer relationships but stimulating the marketing functions with feedback from the market. Network marketing firms such as Amway, Tupperware etc. are using organized personal selling efforts in very innovative manner.

Retailing: The new marketing Mantra:

Call it by any name; it's the last point of return for any marketer. The modern trade calls it the last & the most vital leg of the value chain. You guessed it right; I am talking about retailing as an arm of marketing, which is the final point of fruition for all marketing activities. The strength and potential of the sector is evident from its sheer size, which is pegged at a whopping      Rs. 9.0 lakh crore. The modern trade has now six types of retail formats like supermarkets, department stores, discount stores, and convenience store, hypermarket & health / pharma chains.

Get closer to the customers:

Getting close to the consumers is no longer a management jargon but a reality and a survival strategy in the times of tough competition. All the touch points with customer i.e. pre purchase, during the purchase and post purchase need to be carefully handled to satisfy customer expectations.

Emancipation of Women:

Women are now gaining their rightful place in society. This is going to lead to greater demand for products like beauty-aids, heat-and-eat stuff, healthcare and fitness for women, which could be exploited by marketers in the new millennium. Now women are more net-savvy than men.

E – Business Center:

Education is one big business that cannot be ignored by marketers; it is not just the primary education, but the life-long education that has become necessary for survival in the modern ever-changing world. It is getting delivered more and more through the net which allows the learner to plan his course at his pace and have a one-to-one interaction with instructors through e-mail. Eventually education will become guru centric from the current institute-centric mode.

Soul selling:

Even with all the material comforts, people have a sense of loneliness and certain hollowness inside; this is where soul selling comes to play. There are powerful preachers who come on the Radio, TV and Internet and appeal to your soul, of course in return for a donation. Religion as big business and is expected to grow further in future. If you can't be a preacher, sponsor a preacher to sell your products.

Rural Migration:

With comforts, communication and connectivity made available in the rural areas why would anyone want to live in the congested, unhygienic and polluted big cities. Companies selling farmhouses and plantations exploit this desire for the green rural environment, with connectivity established through satellites; rural area will become attractive locales for ever setting up of business organizations.

Eminent management thinker Peter Druker has once said, "Business is the creation of its customers" but in the present business scenario creating customers in not the end point, but more & more companies are striving for retaining them & convert them as their advocates, marketing strategies play an important role in this regard.

My interest is the future, because I am going to spend the rest of my life there
                                                                                                                                              Charies F. Kettering