The concept explains McCarthy’s 4P classification of the marketing mix and compares it with the developed later 7Ps classification. You will also find some practical examples and recommendations on how to implement it in your organisation.
Marketing Mix Definition
The Marketing Mix is the set of marketing tools often referred to as the four Ps: The Product, its Price, Promotion and Place, that the firm uses to achieve its objectives in its target market (McCarthy, 2001). In more recent times it has been expanded and called the 7 Ps - the four Ps with the addition of People, Process and Physical Evidence (Chartered Institute of Marketing, 2004).
Marketing Mix Description *
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Marketing Mix Strengths *
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Examples of Marketing Mix *
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Marketing Mix Implementation *
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Marketing Mix References (4 of up to 20) *
- Blattberg, R., Getz, G., and Thomas, J. (2008) The Marketing Mix. Harvard Business School Press.
- Kotler, P., and Armstrong, G. (2007) Principles of Marketing. (12th Ed.) Prentice Hall.
- Levinson, J. (2007) Guerrilla Marketing: Easy and Inexpensive Strategies for Making Big Profits from Your Small Business. (4th Ed.) Houghton Mifflin.
- Farris, P., Bendle, N., Pfeifer, P., and Reibstein, D. (2006) Marketing Metrics: 50 Metrics Every Executive Should Master. (1st Ed.) Wharton School Publishing.
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