Importance of the Marketing Mix

Topics: Marketing / Pages: 5 (1125 words) / Published: Nov 29th, 2013
Introduction
The term “marketing mix” was introduced by Neil Borden in his 1964 article “The Concept of the Marketing Mix”. Borden’s (1964) original marketing mix was a list of 12 elements that make up a marketing programme. McCarthy (1964) refined Borden’s list and reduced Borden’s 12 elements to four Ps: product, price, place and promotion. In addition, McCarthy (1964) defined the marketing mix as “a combination of all the factors at a marketing manager’s command to satisfy the target market” (Groucutt, Leadly and Forsyth, 2004: 17). For Grönroos (1994), the four Ps has become “the universal marketing model or even theory and an almost totally dominating paradigm for most academics”. In recent years, the concept of the four Ps has been faced with a lot of criticism due to its oversimplification (Lauterborn, 1990; Waterschoot & van der Bulte, 1992; Kotler, 1984; Gummesson, 1997). The purpose of this essay will be to analyse critically the four Ps of the marketing framework in view of its usefulness.
1. The marketing mix framework
Marketing is a broad and complex subject (Brassington and Pettitt, 2006). Therefore a model is needed which reflects the complex subject in a simplified form by mapping the essential elements and their relationships to each other, thus used for description, explanation and design in practice. This is achieved by the four Ps of the marketing concept. One of the main reasons why the framework has been extremely influential in marketing theory and practice is because of its simplicity and easy understanding (Grönroos, 1994). Nowadays, successful companies like “Diesel” rely on the marketing concept and underpin its utility (The Times 100, 2010).
2. Criticism of the four Ps of Marketing
Borden’s (1964) intention was not to create a fixed framework. Quite the contrary, he assumed that others might build a different mix. But in fact, when comparing McCarthy’s (1964) four Ps with Borden’s (1964) 12 elements on theoretical base, it appears



References: Borden, N., 1964. “The Marketing Concept”, Journal of Advertising Research, 4(2), pp. 2-7 Brassington, F. and Pettitt, S., 2006. Principles of Marketing. 4th Edition. Harlow: Pearson Education Grönroos, C., 1994. “From Marketing Mix to Relationship Marketing – Towards a Paradigm Shift in Marketing”, Management Decision, 32(2), pp. 4-20 Groucutt, J. Leadly P. and Forsyth P., 2004. Marketing: essential principles, new realities. 1st Edition. Glasgow: Bell & Bain Rafiq, M and Ahmed, P., 1995. “Using the 7Ps as a generic marketing mix: an exploratory survey of UK and European marketing academics”, Marketing Intelligence & Planning, 13(9), pp. 4-15 The Times 100, 2010. Diesel – live, breathe and wear passion. [online] Available at: [Accessed 10 February 2011]

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