Marketing mix and the four ps

Shimizu's 7Cs Compass Model Courtesy: The 7 Cs Compass Model is a framework in co-marketing symbiotic marketing. It has been criticized for being little more than the 4 Ps with different points of emphasis.

Marketing mix and the four ps

Traditionally known as the promotional element of the four Ps of marketing product, place, price, and promotionthe primary goal of marketing communication is to reach a defined audience to affect its behavior by informing, persuading, and reminding.

Marketing communication acquires new customers for brands by building awareness and encouraging trial. Marketing communication also maintains a brand's current customer base by reinforcing their purchase behavior by providing additional information about the brand's benefits.

A secondary goal of marketing communication is building and reinforcing relationships with customers, prospects, retailers, and other important stakeholders. Successful marketing communication relies on a combination of options called the promotional mix.

These options include advertising, sales promotion, public relations, direct marketing, and personal selling. The Internet has also become a powerful tool for reaching certain important audiences.

The role each element takes in a marketing communication program relies in part on whether a company employs a push strategy or a pull strategy.

A pull strategy relies more on consumer demand than personal selling for the product to travel from the manufacturer to the end user. The demand generated by advertising, public relations, and sales promotion "pulls" the good or service through the channels of distribution. A push strategy, on the other hand, emphasizes personal selling to push the product through these channels.

Figure 1 Elements of Marketing Communication For marketing communication to be successful, however, sound management decisions must be made in the other three areas of the marketing mix: The best promotion cannot overcome poor product quality, inordinately high prices, or insufficient retail distribution.

Likewise, successful marketing communication relies on sound management decisions regarding the coordination of the various elements of the promotional mix. To this end, a new way of viewing marketing communication emerged in the s.

Marketing Mix

Called integrated marketing communication, this perspective seeks to orchestrate the use of all forms of the promotional mix to reach customers at different levels in new and better ways. Marketers began to realize that advertising, public relations, and sales were often at odds regarding responsibilities, budgets, management input and myriad other decisions affecting the successful marketing of a brand.

Executives in each area competed with the others for resources and a voice in decision making. The outcome was inconsistent promotional efforts, wasted money, counterproductive management decisions, and, perhaps worst of all, confusion among consumers. Secondly, the marketing perspective itself began to shift from being market oriented to market driven.

Marketing communication was traditionally viewed as an inside-out way of presenting the company's messages. Advertising was the dominant element in the promotional mix because the mass media could effectively deliver a sales message to a mass audience.

But then the mass market began to fragment. Consumers became better educated and more skeptical about advertising.

A variety of sources, both controlled by the marketer and uncontrolled, became important to consumers. News reports, word-of-mouth, experts' opinions, and financial reports were just some of the "brand contacts" consumers began to use to learn about and form attitudes and opinions about a brand or company, or make purchase decisions.

Advertising began to lose some of its luster in terms of its ability to deliver huge homogeneous audiences.

The four Ps of the marketing mix have a number of weaknesses in that they omit or underemphasize some important marketing activities. For example, services are not explicitly mentioned, although they can be categorized as . In this article we'll cover the Four Ps of Marketing and their interaction with Marketing Mix and any Brand or product. Marketing is best identified using what is called the 4 P's or a mix of marketing: Product, Price, Promotion, and Place. Starting with products, companies have many procedures they must undertake to ensure their products are ready for selling.

Companies began to seek new ways to coordinate the multiplicity of product and company messages being issued and used by consumers and others. Thus, two ideas permeate integrated marketing communication: Rather than the traditional inside-out view, IMC is seen as an outside-in perspective. Customers are viewed not as targets but as partners in an ongoing relationship.

Customers, prospects, and others encounter the brand and company through a host of sources and create from these various contacts ideas about the brand and company. By knowing the media habits and lifestyles of important consumer segments, marketers can tailor messages through media that are most likely to reach these segments at times when these segments are most likely to be receptive to these messages, thus optimizing the marketing communication effort.

Ideally, IMC is implemented by developing comprehensive databases on customers and prospects, segmenting these current and potential customers into groups with certain common awareness levels, predispositions, and behaviors, and developing messages and media strategies that guide the communication tactics to meet marketing objectives.

In doing this, IMC builds and reinforces mutually profitable relationships with customers and other important stakeholders and generates synergy by coordinating all elements in the promotional mix into a program that possesses clarity, consistency, and maximum impact.

Practitioners and academics alike, however, have noted the difficulty of effectively implementing IMC. Defining exactly what IMC is has been difficult. For example, merely coordinating messages so that speaking "with one clear voice" in all promotional efforts does not fully capture the meaning of IMC.

Also, changing the organization to accommodate the integrated approach has challenged the command and control structure of many organizations.

However, studies suggest that IMC is viewed by a vast majority of marketing executives as having the greatest potential impact on their company's marketing strategies, more so than the economy, pricing, and globalization.The marketing mix (also known as the 4 Ps) is a foundation model in regardbouddhiste.com marketing mix has been defined as the "set of marketing tools that the firm uses to pursue its marketing objectives in the target".Thus the marketing mix refers to four broad levels of marketing decision, namely: product, price, promotion, and place.

Marketing practice has been occurring for millennia, but.

Marketing mix and the four ps

How To Define Marketing Mix: The “4 Cs” Customer Perspective. To define Marketing Mix in terms of the traditional “4 Ps” of Marketing is a fall back to the old days of marketing.

As with many aspects of traditional business, today's market demands an adjustment to see things from your customer's perspective.. The “4 C” approach to marketing is described below and follows the ”You. Marketing mix or 4 P's of marketing: Product, Price Place and Promotion. Marketing Mix is probably the most famous term in marketing.

marketing mix or four p's of marketing. The 4Ps of Marketing is an essential foundation of knowledge whether studying or working in the industry. It's the baseline that makes or breaks a business.

The Marketing mix is a set of four decisions which needs to be taken before launching any new regardbouddhiste.com variables are also known as the 4 P’s of regardbouddhiste.com four variables help the firm in making strategic decisions necessary for the smooth running of any product / organization.

Summary of the 4 Ps Model. Abstract Mark Acutt Marketing is a function of business that determines the needs of the consumer. It also identifies target markets as well as applies services and products to serve such markets.
Do you have Marketing Mix expertise or experiences? These four components help determine a clear and effective strategy to bring a product to market.

MARKETING ON THE INTERNET MARKETING ON THE INT ERNET 1 MARKETING ON THE INTERNET Marketing is a critical and complex business operation with the simple goal to.

How To Define Marketing Mix: The “4 Cs” Customer Perspective