Pdf an examination of selected marketing mix elements and. In the 1950s neil borden popularised the term marketing mix which contained more than ten elements of marketing. Marketing mix concerns the transition from the strategic conceptual phase to the tactic operative. E marketing strategy is normally based and built upon the traditional 4 ps product, price, promotion, and place that forms the classic marketing mix. This now allowed the extended marketing mix to include. What is the importance of the marketing mix in the. To this end, we use the methods of observation, interviews, didactic generalizations, expert assessment, and we apply the technique of assessing the level of information support of consumers in ecommerce by four key elements of the marketing mix, which is based on the importance execution model. As you already know, there are four elements in the marketing mix of any product and seven in case of services.
Note that these marketing plan elements correspond to a sample marketing plan template provided for use in this course. Your marketing mix is the combination of elements that play a role in promoting and delivering your products and services to consumers or clients. Owing to the fact that any decision on each element should be compatible with other three elements, marketing mix term was selected 11. When it was first articulated by mccarthy in 1960, it consisted of 12 parameters that were to be mixed like ingredients by a marketer. The paper identifies procedures which help to optimize the choice, combination and connection of elements and activities of the marketing communications mix in relation with prospective students. Pdf marketing mix has under gone a sea change in last few decades. If one of the elements mentioned above doesnt follow the marketing mix example read more. Elements of the marketing plan principles of marketing. As of 2020, there are several mercedes benz marketing strategies like productservice innovation, marketing investment, customer experience etc. Here the library is required to undertake adequate marketing techniques and tactics capable enough to forecast user needs and their satisfaction. The marketing mix is a good place to start when you are thinking through your plans for a product or service, and it helps you avoid these kinds of mistake. Specially marketing mix elements such as product, price, place and promotion can be adopted in the library. Generally the product marketing mix consists of product, price, place and.
It is designed to meet the companys marketing objectives by providing its customers with value. Positioning of the institution in relation to competitors. Read this essay on how four of the marketing mix elements combine to make it a success come browse our large digital warehouse of free sample essays. Critically evaluating the marketing mix of an academic. Later in the 1960s, jerome mccarthy devised the 7 ps model, refining the essentials from the marketing mix. The nine ps9ps of marketing can be used successfully by product companies, service firms, for profits entities and nonprofits selling directly or indirectly to consumers b2c, to marketing intermediaries such as industrial, consumer, retail, wholesale and professional channels of distribution, and to other businesses b2b. This study aims to highlight the role of marketing mix product, price, place, and. Every stake holder involved in the marketing process looks for value. Marketing is a complicated terrain combining several elements of most of the. Marketing mix meaning and its elements neil borden in the year 1953 introduced the term marketing mix, an extension of the work done by one of his associates james culliton in 1948. The relationship between elements of marketing mix and. Comparative analysis of trends in the distribution of ad spending worldwide, the european union and bulgaria. Selection of target markets and designing of the marketing mix.
Pdf this study explores the relationships between selected marketing mix elements and the creation of brand equity. The elements of the marketing mix are combined to create a marketing strategy that will lead to the achievement of the organisations objectives. This particular marketing plan template was designed to align well with the structure and content of this course. Using different combinations of marketing mix instruments can lead to achieving competitive advantage in education market. Over the years, the four elements of a marketing mix have been developed and formalized by. Marketing mix elements marketing mix is recognized as a strategy used to perform marketing functions. Moreover, it has built its primary plan in the identification of an existed market share, and market growth opportunities, which mostly. In essence, its about putting your product or service in the right place at the right time for the right price. Over time many ps have been crystallized like 5ps, 8ps, etc.
Understanding the marketing mix concept 4ps cleverism. Again, getting any of these elements wrong may destroy the rest of the factors you got right. Effects of 4ps marketing mix on sales performance of. Studying the status of marketing mix 7ps in consumer. The study is based on a survey of executivelevel managers in u. In reality, marketing mix is a set of tools by which entities achieve their marketing goals in their target markets 12. Application of marketing mix elements 4ps in the library. Pdf marketing mix for next generation marketing researchgate. Measuring emarketing mix elements for online business. The 4 ps of the marketing mix are related, and combine to. How four of the marketing mix elements combine to make it.
Specially marketing mix elements such as product, price. Traditionally, the marketing mix consists of the following four elements. The four ps of the marketing mix the main purpose of the four ps of the marketing mix, a concept that was popularized by philip kotler, the socalled father of modern marketing mahajan, 20, is to capture interest and. Marketing mix is the key concept in the marketing task. Aim of article is to analyze marketing mix theoretical aspects. The marketing mix is a crucial tool to help understand what the product or service can offer and how to plan for a successful product offering. Moreover, it was found that current literature identifies a high influence of marketing 3. The institutions current programs and markets whether to maintain, build, or drop them. During the research work we have tried to combine the service and innovation as key. Constantinides1 the marketing mix revisited pure research. However, the marketing mix and its role on achieving a competitive advantage in sme sector in oman still need further studies to cover other dimensions of this area. The true impact of element of marketing mix on brand equity is still unknown.
Because it is a template, or pattern, you can adapt and use it againperhaps at a future job. At first, this might sound simple and effortless but there is a lot of work and research involved. Businesses leverage these marketing mix elements to take advantage of natural strengths. It denotes the different stages through which the sale of any product changes in a time period. Marketing mix elements a case study on steel industry export. Nowadays, pricing a product is determined in the marketing department of a firm in order to achieve the firms trade. The traditional marketing mix comprised of the 4ps of product, price, place and promotion has enjoyed tremendous popularity over the years. The broad objective is to examine how product, price, promotion and place can applied to increase sales volume of automotive fuels especially regular, super, and diesel in. A simple understanding of marketing is basically taking the right product, putting it in the right place, for the right price exactly at the right time frame. Anyone who comes into contact with your customers will make an impression, and that can have a profound effect positive or negative on the customer satisfaction. Use of sport promotion mix to increase consumption of.
Marketing mix includes four elements namely product, price, promotion and place 10. Note that there is an important way in which pricing differs from the other three elements of the marketing mix. Now we shall deal with the last three elements people, processes and physical evidence. Outline your promotional mix strategy in respect of advertising, public relations, sales promotions, direct selling and personal sales. Marketing mix of mercedes benz analyses the brandcompany which covers 4ps product, price, place, promotion and explains the mercedes benz marketing strategy. The impact of marketing mix on the competitive advantage of the. The marketing mix is grouped under four elements i. The reputation of your brand rests in your peoples hands. The effects of marketing mix on consumer satisfaction. Pdf application of marketing mix elements 4ps in the. This research identifies the extent to which individual marketing mix elements are adapted for international markets and how company, industry, and market factors influence the level of adaptation. These seven elements represent the key components of a products marketing strategy and are crucial to the approval and assimilation of a new product by prospective clients. In the late 70s it was widely acknowledged by marketers that the marketing mix should be updated. The importance of each element depends not only on the company and its activities, but also on the competition and time.
The initial four elements or 4ps of the marketing mix included. The marketing mix management paradigm has played an influential role in the development of marketing theory and practice. It is essential, that b2b marketers tailor their seven ps for their offering in a way that targets their business clients. The purpose of this report is to present theoretical concepts and developments in the concept of marketing communication mix. Article information, pdf download for the impact of marketing mix on the.
Companies use the marketing mix, revealed by analytic frameworks such as the 4ps, to determine which marketing strategies and tactics will most likely produce the best results for a specific product or service. The college applied a marketing plan based in marketing mix elements, which corresponds to the 7ps of services marketing mix mudie and pirrie, 2006. Shocker, srivastava, and ruekert 10 merged the consumer and. Presentation of the elements of the marketing communication mix. The product is the key element of any marketing mix. The paper aims to investigate the influencing of marketing mix mm elements product, price, place or distribution, and promotion on increasing the effectiveness of product promotion and their role to reduce the problems within the organization. The main role of marketing strategy is to combine competences and other strategies of an educational institution, coordinating the chal. The fundamental among them was the 4 ps of marketing. Habibur, the effects of marketing mix on consumer satisfaction. The marketing mix and the 4 ps of marketing are often used as synonyms for each other. Measuring e marketing mix elements for online business. All of these components blend together to create the promotion mix. When a change is proposed to be made in one of the elements, it has to be checked if the changed element still fits with and reinforces other elements, or has it started contradicting other elements, making the marketing mix less effective in serving customers. Get the knowledge you need in order to pass your classes and more.
Effects of marketing mix elements on sales performance of automotive fuels in kenya have not received sufficient attention. The marketing mix elements product, price, place, and promotion are only some dimensions which are limited to this study. The place is one of marketing mix elements and includes distribution channels. The article discusses that marketing mix is one of the main objectives of the marketing mix elements for setting objectives and marketing budget measures. If you use the term place for the activities of distribution, the four elements of the marketing mix can be referred to as the four ps, a mnemonic that has proved useful to generations of marketing students. Adaptation of marketing mix elements in international.
If services are included in the marketing strategy, the four ps are extended to seven. The marketing mix is most commonly executed through the 4 ps of marketing. This is only possible by an accurate blend of all the elements 4ps of marketing mix as. The impact of marketing mix on the competitive advantage. All the elements have to reinforce each other to enhance the experience of the customer. Pdf marketing mix of 4ps for competitive advantage genevieve.
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