Marketing 4v's

Marketing - from "4 P's" to "4 C's" to "4 V's"
While I was studying marketing in the university, the "4 P's" of marketing approach was the core of the subject. Later, Bob Lauterborn, professor of advertising at the University of North Carolina discovered the "4 P's" has some major flaws that result in many product launching failures. He proposed a new set of "4 C's" marketing principle to replace the traditional "4 P's".
In our fast moving age of internet time, the "4 C's" is also facing with some dilemma and a new marketing tool of "4 V's" is being contemplated for application.
Product vs. Consumer vs. Validity.
The old Product approach is to develop and produce a product as good as possible to market and make sales. The Consumer approach is to study consumer wants and needs, and to manufacture products in response to those needs. Validity discover that product with great consumer needs may not be valid and need to be addressed. We have recently cases of product with great consumer demand such as toys and foods from China that needed to be moved out from the shelves due to high risk nature of the products.
Marketing should not only consider the wants and needs of the consumers, but also other product factors of safety, environment, and social issues, viz. Validity. Many internet products may be of great demand to consumers but should not be marketed due to age inappropriateness, to cite an example.
Price vs. Cost vs. Value
Price charged to consumer is no longer a sufficient marketing parameter for it is only one part of consumer cost. If we sell product on e-bay, for example, we have to consider the cost of currency exchange lost and exchange risk to the client. Hence, a co-net work of Paypal was created to lower consumer buying cost. Or driving to eat a bowl of noodles would incur additional driving cost, etc.
Value marketing go one step further to advocate that lowest price and considerate cost are not sufficient in today's marketing solution. As more...