malls, 4Es Marketing, shopping centers, retail
In 2017 the American Marketing Association changed the definition of marketing from the "Mad-Men" era concept based on the 4Ps – Product, Price, Promotion, Placement – to one based upon value: "Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large." This required an evolution of the 4Ps model of marketing to a new one based on value. This new model is described by the 4Es model where Experience replaces Product; Exchange is the new Price; Evangelism is now Promotion; and Environment replaces Placement. This paper explores how traditional malls founded in the "Mad-Men" era must evolve in the new values-based economy. Malls must unlearn the lessons from the past and think of their spaces in a new way, not as primarily places to connect consumers with products, but as places where people engage with brands, experiences, entertainment, service providers, employers and even live.
Danziger, Pamela N.
"The Mall Must Do More: A 4Es Approach to Evolving the Mall of the Future,"
Visions in Leisure and Business: Vol. 22:
1, Article 5.
Available at: https://scholarworks.bgsu.edu/visions/vol22/iss1/5
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