MARKETING MIX: THE COUNT OF PS CHANGING WITH MARKET DYNAMICS A PAPER ON TRENDS OBSERVED IN MARKETING DECISIONS WORLDWIDE
Abstract
The chief objective of this paper is to revisit the current marketing mix applies mainly to the marketing. This study provides an suggestion to the marketers and can be used as tools to aid them in pursuing their marketing objectives. Borden (1965) claims to be the first to have used the term marketing mix and that it was suggested to him by Culliton’s (1948). McCarthy (1964) offered marketing mix, often referred to as the 4Ps, as a means of translating marketing planning into practice (Bennett, 1997). Marketing mix is originating from the single P (price) of microeconomic theory (Chong, 2003). New Ps was introduced into the marketing scene in order to face up into a highly competitively charged environment (Low and Tan, 1995). Even, Möller (2006) presents an up-to-date picture of the current standing in the debate around the Mix as marketing paradigm and predominant marketing management tool by reviewing academic views from five marketing management sub-disciplines (consumer marketing, relationship marketing, services marketing, retail marketing and industrial marketing) and an emerging marketing (E-Commerce). The concept of 4Ps has been criticised by number of studies, examples Lauterborn (1990), Möller (2006), Popovic (2006) and Fakeideas (2008). However, in spite of its deficiencies, the 4Ps remain a staple of the marketing mix. The subsequent Ps have yet to overcome a consensus about eligibility and agreement over the practical application (Kent and Brown, 2006).
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