Which P is your company's focus?

In the vast majority of organisations around the world, the focus of the marketing mix can be depicted as follows:

Product - Price - Promotion - Place - People

As you can see, promotion dominates the resources of most marketing departments, followed by price ... with product, place and people taking out a distance third place.

In my opinion, this represents illogical thinking. This implies that it is most effective to heavily promote products that haven't been given the necessary budget to develop, and an unjustifiable amount of time pricing them.

Immutable logic says that the resources allocated to the marketing mix elements should look more like this:

Product - Price - Promotion - Place - People

In summary, promote products that people really want. Then, you can reduce your promotion budget by the word of mouth factor created by great products. And, promote those performance predictors that will flow naturally from the great products.