The 12 Ps of retail property marketing formed one of the presentations at today's International Council of Shopping Centres (ICSC) European Marketing Conference in Copenhagen. Developed by Zoe Ellis-Moore, Associate Director EMEA Marketing with JLL, the paper explains that it builds on the 4 Ps of marketing mix and the 7 Ps of service marketing to provide a new practitioner-led insight into destination marketing with a series of illustrative case studies from Europe, the Middle East and Africa.

According to the paper, the 12 Ps comprise 3 levels and 9 elements that are itegral to marketing to retail places. It says that "By identifying the nine key elements of retail places, we can start to build an industry marketing toolkit that supports actions and steps towards value creation from property up to performance level. Most retail places will not be strong across every element, but even the most basic retail venues can embrace individual elements; for example, by embedding flexibility into their offer or creating closer links with the local community."

"Depending on whether addressing a new scheme or an existing place, different elements come to the fore. Marketing an existing retail place means using the 12 Ps to create a retail place that plays to current strengths and identifies areas for improvements. New schemes require the marketing professional to incorporate as many of the nine elements as possible into the concept, design strategy and management of the three levels."

"The foundation of the model is the Property level which establishes the key fundamentals of any retail location of Place, Physical Environment and Product. It seeks to build the brand and ensure its long-term survival, to ensure resilience to new trends and meet the demands, while extending customer base, building value for shareholders, developing offer that’s appealing and customers will travel further distances to visit. Creating an environment that people want to visit is paramount....."

"Place is at the centre of the 12 Ps model. This reflects the most basic commercial elements of supply and demand that are the starting point for any marketing. Getting market fundamentals right is about matching a retail offer to shopper needs. For some locations with global appeal, maximising size and sophistication is key. But for most, success hinges on providing an offer that appeals to local and regional catchments. And this will become more and more important, with demographic shifts – particularly ageing populations – driving the requirement for a strong retail offer."

Amongst the helpful insights from shopping centres, the paper draws on the experience of the Kista Galleria in Stockholm as an example of a place that has been "extremely successful in matching supply and demand with its local catchment, both the resident population of 125,000 people and the 70,000 people who work in the neighbouring Kista Science City. The needs of the local catchment in particular have shaped the retail offering in the centre, which has a health centre, dentist and digital library. At the same time, its extended opening hours satisfy the local workforce."

The paper concludes by saying "Taken together, the 12 Ps of retail space marketing create a framework with which to approach the future actions that will ultimately determine the success of new or existing retail destinations. The framework is not intended as a theoretical exercise, but rather as a way to focus analysis and activities in response to the trends shaping retail globally."