3M and 5m marketing models
The most famous at the moment marketing is 3M and 5m models. Dan Kennedy is a famous American marketing expert, has proposed 3M model. In his opinion, 3 components are necessary for the success of marketing:
- Market - market (these are all the customers to whom the company can convey its information).
- Message - message to potential customers.
- Media - the media channel of the advertising message to potential clients or the market.
In simple terms, you need to create the right message and bring it to the right people in the right way. And most importantly, all this must happen at the right time.
Another well-known marketer Howard Jacobsen added to this model two more components M. These include:
- Metrics - measurement of performance indicators (you need to measure everything you do).
- Mission - mission of the company, global goal and idea of the company.
In the following articles, we will analyze all the components of the models separately.
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