Marketing Mix Case Study
LITERATE OVERVIEW ON MARKETING MIX
A basic definition of marketing mix is putting the right product in the right place, at the right price, at the right time. Marketing mix is thought of as a combination of factors to be considered so as to develop a triumphant marketing strategy for any business (Misra, 2015)
According to Borden (1965) claims to be the first used the term “marketing mix” that was suggested to him by Culliton’s description of business executive as “mixer of ingredients” (Culliton, 1948). An executive is “a mixer of ingredients, who sometimes follows a recipe as he goes along, sometimes adapts a recipe to the ingredients immediately available, and sometimes experiments with or invents ingredients no one else has tried” (Culliton,
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Then Rasmussen (1955) developed a parameter theory. He proposed for competition and sales determinants as price, quality service and advertising. After that Frey (1961) divided variables into two parts: the offering and the methods and tools. The offering included product, packaging, brand, price and service, while methods and tools included distribution channels, personal selling, advertising, sales promotion and publicity. McCarthy (1964) refined what Borden (1965) came up with in which he defined marketing mix as combination of all of factors at a marketing manger’s command to satisfy the target market. Then, he came up with his famous four elements or what is known as 4Ps – product, price, promotion and …show more content…
It is reported the concept implementation is kept in people and organization hands, resulting in disintegration of the 4 factors due to functioning limited to distinct units of the organization. The marketing mix concept suggested that the 4Ps are equal in an equal-based manner, while a myriad of papers reported that the factors vary in their importance to any organization. For instance, the product price being the importance focus to many organizations. It is worth noting that the marketing mix has been also criticized of being production-oriented rather than customer-oriented – having said that the customers regarded as passive, hence limiting its applicability particularly in today’s business world environment that the customer is the king (Misra,
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