March 29, 2024  

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Marketing Mix

The marketing mix is a business tool used in marketing and by marketers. The marketing mix is often crucial when determining a product or brand's offer, and is often associated with the four P's by the marketer E. Jerome McCarthy who proposed a four Ps classification in 1960, which has since been used by marketers throughout the world: price, product, promotion, and place. In service marketing, however, the four Ps are expanded to the seven P's or eight P's to address the different nature of services...

Many now dismiss the 4 Ps as being out of date and have developed the four Cs to replace that concept, for example, there are the C’s developed by Robert Lauterborn in 1990 and put forward by marketing guru Philip Kotler:

Place becomes convenience
Price becomes cost to the user
Promotion becomes communication
Product become customer needs and value

The four C’s reflect a more customer oriented marketing philosophy that better fit the movement from mass marketing to niche marketing. They provide useful reminders that you need to focus entirely on the customer when deciding where to offer a service. Which ever you choose you should include all four basic elements into your own marketing mix and then custom tailor this to your specific situation.

It can be clearly seen that if the 4 C’s enforce the 4 P’s it will keep you intouch with your brand and the customer’s ultimate needs. To the one cannot do without the other.


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