Marketing Mix Of Marketing And Marketing

Marketing Mix includes four basic marketing strategies which is called Product, Pricing, Promotions and Placement , The add on three marketing mix will be People , Process and Physical Evidence. They are combine and called the 7Ps which is under the elements of Service Marketing Mix. Working professionals or businesses use these fundamentals to communicate with and reach their planned target market. Marketers manage decisions about each of the 7P's base their decisions on the individuals they want to win board and make into customers. Marketers must first clearly identify each target market before they can build up marketing strategies.

The marketing mix concept often referred to as the “4Ps” (McCarthy, 1964), as a means of translating marketing planning into practice (Bennett, 1997) is one of the fundamental concepts of marketing theory. Marketing mix is not a scientific theory, but merely a conceptual framework that identifies thee principal

​the activity for creating, communicating, delivering, and exchanging offerings that benefit its customers, the organization, its stakeholders, and society at large.

These ‘4ps’ are four decision areas and form a major aspect of marketing and these principles are controllable variables, which have to be carefully managed and must meet the needs of the defined target group. How these variables connect to the target market is demonstrated in Figure 1. The ‘4ps’ are often extended to the ‘7ps’ that incorporates, physical evidence, people and process.

As per Ian Ruskin Brown and Greg Clark “ Marketing mix is the term used explaining the different elements comprising the offer that the different companies makes to their customers”. (Brown and Clarke, 2000:44). E.Jerome McCarthy in early 1960s came up with the four Ps in the marketing mix. According to him these 4ps are “ Product, price, place and promotion”.( McCarthy and Shapiro 1975: 35). Refer Appendix I for the pictorial representation. But the view of Richard Sandhusen is that the four marketing mixes should be ‘price, product, promotion and distribution’ (Sadhusen, 2000:319). According to Steven Stralser ‘in order to create a marketing strategy and plan that touch all the areas of marketing to position a product, maximise revenue etc a few more components have to be considered which are, Marketing segmentation, Marketing Strategy, Marketing research , Pricing, placement and value chain.’(Stralser,

Product, Price, Place and Promotion also commonly known as the 4P’s are the major factors or tools with which a firm or an organisation operates in the market by offering a superior value proposition to its clients and customers and thus earning value back from them in return to achieve the objectives of its shareholders. These 4P’s are combined together to form the marketing mix of a firm.

The marketing mix is a combination of 4 P’s (product, price, place and promotion) that should be used in conjunction with each other to ensure a competitive edge over other companies. ‘The marketing mix is designed to produce mutually satisfying exchanges with a target market’.

A mixture of elements used to pursue a particular market response, the aim of the marketing campaign is to maximise sales at as low a cost possible, in McCarthy’s (1960) analysis of the marketing mix cited in (Waterschoot & Van de Belte, 1992:84), he describes the 4P’s method these are:

Marketing mix can be describes as "the use and specification of the 4 Ps describing the strategic position of a product in the marketplace… A prominent person to take centre stage was E. Jerome McCarthy in 1960; he proposed a four-P classification which was popularized. (wikipedia.com)" The marketing mix approach to marketing is a model of creating and implementing market strategies. The marketing mix stresses the mixing of different factors in a way that both organizational and consumer or target markets objectives are attained. The 4 Ps of marketing are Product, Place, Promotion and Price. Each plays a key factor in the overall successful marketing of a product or service.

The different stages will affect the marketing mix. The marketing mix is often referred to as the 4 P’s which product, place, price and promotion.

Setting the right marketing mix for the product or service means that it including all of the important bases in marketing strategy. The marketing mix is generally established as the use and requirement of the 4P’s which is describing the strategic position of a product in the marketplace. One version of the beginning of the marketing mix starts in 1948 when James Culliton said that a marketing decision should be a result of something related to a methods and he described the marketing manager as a “mixer of ingredients”.

"T.H.E marketing mix is a business tool used in marketing and by marketers.. T.H.E marketing mix is often crucial when determining a product or brand 's offer, and is often associated with T.H.E four P 's: price, product, promotion, and place. In service marketing, however, T.H.E four Ps are expanded to T.H.E seven P 's or Seven P 's to address T.H.E different nature of services"........

The four P’s of a marketing mix are as follows, product, price, place, and promotion. Each of these offers a marketing parameter for the management and company team to control. With each marketing tool there are decisions that should be met as far as the business is concerned. Therefore, there is a list for each one that should be analyzed to meet the business standards.

Marketing mix is also called 4P’s of marketing .It can also be used to find existing market strategy. 4P of marketing represents:

The 4 P’s of marketing will be evaluated during this stage. The marketing plan and promotional mix allows the business to build a strategy for the delivering packaging, pricing, promotion, and communication vehicles to provide the best value to the consumer. A sound marketing plan is vital in winning in the market place.