Marketing Mix Revisited

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 provides an excellent framework for developing marketing plan. They are generally accepted as being made up of four parts which are:

Marketing mix is used at the MARC facility to develop and implement a plan to achieve organization goals. The four variables product, price, place, and promotion are within the organization’s control and therefore, the mix of those four elements are key in marketing decisions. Marketing mix is the combination of all the experiences, tools, innovations, and creativity that the MARC uses to make consumers their clients. All four P’s are needed in a marketing mix they should all be tied together. Revenue, while promotion, place, and product generate cost. Producing, designing, distributing, and promoting products come with expenses.

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

I’m going to develop a new soft drink as part of Coca Cola, the drink is aimed to attract customers aged 13- 19.

A marketing strategy is the combination of the target market, or the customers the marketing is intended to reach, and the marketing mix. Product, price, place, and promotion are components of the marketing mix, or the four p’s, which create a value for the customer (Perreault, Cannon, & McCarthy, 2009). For this reason, the customer, who is not part of the marketing mix, is the center of the target, surrounded by the elements of the marketing mix. The ultimate goal of a marketing strategy is to create value for the customer, which allows the organization to increase customer satisfaction and results in repeat customers and additional equity for the organization (Armstrong &

According to the text, Principles of Marketing, marketing mix is made up of four things: product, price, place and promotion. Further, there are four Cs that go along with these four Ps: consumer solution, customer cost, convenience and communication. (Kotler) Building lasting lifetime relationships is what every company desires. To create that, customer satisfaction must be at the top of the

McCarthy used the ‘4ps’ to define the marketing mix. The ‘4ps’ are shown in the table below (3.1).

Another way to focus on the companies marketing strategies would be the four P 's (Product, Place, Price, and Promotion). There is an importance of understanding the marketing mix to sell more products as well. Developing an effective and successful marketing mix takes more of an experimentation and following up the process to determine the most effective method of marketing of a product or service for the customers.

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,

A marketing mix consists of Product, Place, Price and Promotion. It is fundamental to understand these four elements for developing an effective marketing strategy.

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 is one of the most popular terms of the management. Marketing mix includes several terms like place, price, product and promotion these factors hold the key and known as Four P’s and even though there are some other factors like people, process and physical evidence. Any organization either a profit-making or non profit-making has to analyse and understand all these factors because they play a vital role in the marketing environment.

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”.

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.