Do classic marketing approaches like the 4Ps (or service marketing 7Ps) retain their validity today?

Anything that can provide you clarity of thought in marketing is useful. So yes yhey are still relevant.

Yes absolutely they do. Marketing theory is of utmost important in the digital age just rarely applied.Take the 4Ps: Product, Price, Place, Promotion.Many technology focused marketers often launch products indistinguishable from their competitors at a price that’s uncompetitive to customers online and try to promote via Google Adwords.Eventually they find that their entire value proposition is uncompetitive but only after they’ve spent lots inflating Google’s share price. Had they used the 4Ps method before launching lots of time and effort could have been saved.The 7Ps of service marketing are as important as ever especially ‘Physical evidence’ or put another way ‘data’.Many thought leaders are claiming that the old methods are dead. I proclaim the opposite. They’ve never been more important. The tools may have changed but the application of process in the spirit of creating competitive advantage hasn’t changed that much at all.

Definitely! I still use the 4P’s everyday!