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ELK ASIA PACIFIC JOURNAL OF MARKETING AND RETAIL MANAGEMENT ISSN 0976-7193 (Print) ISSN 2349-2317 (Online); DOI: 10.16962/EAPJMRM/issn.2349-2317/2014 Volume 5 Issue 4 (2014) www.elkjournals.com ………………………………………………………………………………………………………………… THE MARKETING MIX: A REVIEW Virender Sanghvi Professor, Management Department Institute of Management Technology, Ghaziabad, India ABSTRACT Shifting the model of traditional business for selling digital products related to physical media to online globe leads to the requirement for a system to secure digital intellectual property. DRM (Digital Right Management) is a system to secure greater value digital properties and handle the usage and distribution of those digital properties. This study presents a review of present state of digital rights management concentrating on security techniques underlying legitimate suggestions and major drawbacks to deployment of digital rights management with the target of offering a better understanding of what are happening presently to management of content on a technological and legal basis and prepared well for holding future possibilities. Keywords: Marketing mix, 4Ps, marketing theory. Introduction Marketing mix originates from the micro compared to that of mixing a cake. A economics theory variable, price (Chong, baker is required to make changes in 2003). proportion McCarthy (1964) suggested in marketing mix, known as the 4Ps, as a tool accordance with the kind of cake to be to implement marketing plans (Bennett, baked. Similarly, strategies need to be 1997). The marketing mix spells out the suited for different products (Hodder key decisions that managers make in Education, n.d). Kent (1986) defines the oreder to adjust the products and services 4Ps of the marketing mix as “the holy to the customers’ demands. It is thus not a quadruple…of scientific theory but rather a theoretical faith…written framework. The 4Ps framework can be Marketing mix has been found to be a utilized to design both short term and long significant determiner of theory and term practical tools in marketing. (Möller, strategies (Palmer, 2004). The concept of the marketing mix can be 1 of various ingredients 2006). the in tablets marketing of stone”. ELK ASIA PACIFIC JOURNAL OF MARKETING AND RETAIL MANAGEMENT ISSN 0976-7193 (Print) ISSN 2349-2317 (Online); DOI: 10.16962/EAPJMRM/issn.2349-2317/2014 Volume 5 Issue 4 (2014) www.elkjournals.com ………………………………………………………………………………………………………………… The primary factors that make the within the organization (Low and Tan, marketing mix a powerful approach are: 1995). marketing appears easy to handle with the Möller (2006) however argued that the availability of this framework. It also deficiencies of the 4Ps marketing mix delegates marketing tasks to experts and concept, as the cornerstones of the separates the marketing domain from other traditional marketing management are organizational activities. And the elements subject to extreme criticism. Many critics of the marketing mix can be instrumental reject the 4Ps altogether and propose other in altering a firm’s competitive standing substitute frameworks (refer Table 1-6) (Grönroos, 1994). The marketing mix framework also presents two major Objective advantages. First, it is an important tool used to enable one to see that the marketing manager’s job is, in a large part, a matter of trading off the benefits of one’s competitive strengths in the marketing mix against the benefits of others. The other advantage of the marketing mix is that it helps in revealing the flip side of the tasks of the marketing manager. All managers are required to allocate accessible resources among various demands, the marketing manager on the other hand must delegate these resources among different competitive elements of the marketing mix. This in turn will enable the culmination of a marketing philosophy Since the gestation of the concept of marketing, it has remained a subject of constant research in order to develop new theoretical frameworks in view of the changing commercial outlook and attitudes, especially in the previous few decades (1940s – 2000s). Many researchers have attempted to identify and introduce new and more relevant Ps to the existing framework. This process has continued over a long time now, since new Ps keep coming up in light of the evolving commercial environment. This paper therefore seeks to review the present frameworks available for marketing mix. History and application of Marketing Mix 2 ELK ASIA PACIFIC JOURNAL OF MARKETING AND RETAIL MANAGEMENT ISSN 0976-7193 (Print) ISSN 2349-2317 (Online); DOI: 10.16962/EAPJMRM/issn.2349-2317/2014 Volume 5 Issue 4 (2014) www.elkjournals.com ………………………………………………………………………………………………………………… Culliton (1948) suggested to Borden, the and fact identification and investigation. definition of a business executive as a Frey (1961) recommends dividing the “mixer of ingredients” who then used the marketing variables into 2: the offering term “marketing mix” for the very first (product, brand, price, packaging, and time service) and the tools and methods in A business executive is “a mixer of ingredients, who (channels at times follows a recipe as he goes along, personal sometimes the promotion). Conversely, Lazer and Kelly ingredients readily available, and ventures (1962) and Lazer, Culley and Staudt with or develops ingredients previously (1973) recommended three elements of the not tried, the other times” (Culliton, 1948). marketing mix: the goods and services The erstwhile marketing concept was built mix, the communication mx and the on the action elements suggested by distribution mix. Stackleberg (1939) and was similar to the clarified Borden’s (1965) concept further marketing mix framework. Subsequently, and explained the marketing mix as a Rasmussen (1955) introduced what came consolidation to be known as the parameter theory. He command of a marketing manager so as to suggested meet the consumers’ demands. He re- adapts that the a recipe four to determining of distribution, advertising, selling, publicity and sales of McCarthy all factors (1964) in the elements of sales and competition are categorized Borden’s price, service, quality and advertising. 12 elements into four elements or 4Ps, Mickwitz (1959) associates this theory to namely product, price, promotion and the Product Life Cycle Concept. place. The original marketing mix suggested by Particularly since the 1980s, a number of Borden constituted 12 elements namely: new product pricing; marketing mix. A fith P-People, was advertising; suggested by Judd (1987). Booms and personal selling promotions; servicing; Bitner (1980) introduced 3 new Ps display; packaging; physical handling; (process, channels 3 theory (1965). planning; of branding; distribution; introductions were participants and made the physical ELK ASIA PACIFIC JOURNAL OF MARKETING AND RETAIL MANAGEMENT ISSN 0976-7193 (Print) ISSN 2349-2317 (Online); DOI: 10.16962/EAPJMRM/issn.2349-2317/2014 Volume 5 Issue 4 (2014) www.elkjournals.com ………………………………………………………………………………………………………………… evidence) to the existing 4 Ps to make the framework. Some have even rejected and marketing mix framework applicable to replaced the original framework. services. Kotler (1986) recommended the addition of public opinion formation and Criticism against the marketing mix political power to the existing 4Ps. 4Ps delimits four distinct, well-defined Baumgartner recommends15Ps. and independent management processes. MaGrath (1986) introduced another 3 Ps Despite the consistent effort by many (process personnel physical businesses to deal with the 4P in management and management of physical an integrated manner, the drafting but facilities). Goldsmith (1999) recommends mainly the implementation of the P 8Ps (product, price, place, promotion, policies remains largely the task of various personalization, participants, process and departments physical evidence). Vignalis and Davis organisation. (1994) recommend the S of services to the thought is the fact that the customer is marketing mix. typically The tables 1-6 summarize the academic effects of each of the 4Ps in diverse literature the occasions, times and places, even in case five that some companies take great pains to sub-disciplines fully integrate their marketing activities relationship internally (Constantinides, 2002; Wang, (1991) management, and marketing mix marketing management (consumer in about context marketing, marketing, services of Even more experiencing the within the significant individual Wang and Yao, 2005). However, a study marketing and industrial marketing) and by Rafiq and Ahmed (1995) suggested that an emerging discipline (E-Commerce) as there is a high degree of dissatisfaction reported by marketing, persons retail (2006). Most with the 4Ps framework. Even, Overall researchers have these results provide fairly strong support and Booms and Bitner’s (1981) 7P framework inclusion of additional parameters in light should replace McCarthy’s 4Ps framework of significant deficiencies in the original as academicians proposed 4 perceptions and Moller and alternative frameworks the generic marketing mix. ELK ASIA PACIFIC JOURNAL OF MARKETING AND RETAIL MANAGEMENT ISSN 0976-7193 (Print) ISSN 2349-2317 (Online); DOI: 10.16962/EAPJMRM/issn.2349-2317/2014 Volume 5 Issue 4 (2014) www.elkjournals.com ………………………………………………………………………………………………………………… Development mix has Pricing was considered the most important academic and marketing activity in Robicheaux’s (1976) Numerous survey, although it ranked only sixth in modifications to the 4Ps framework have Udell’s (1964) survey. Udell (1968) found been concerted that sales efforts were rated as most criticism has come from the services important, followed by product efforts, marketing area (Rafiq and Ahmed, 1995). pricing, and distribution. LaLonde (1977) The introductory marketing texts suggest found product related criteria to be most that all parts of the marketing mix (4Ps) important, followed by distribution, price, are equally important, since a deficiency and promotion. Perreault and Russ (1976) in any one can mean failure (Kellerman, found that product quality was considered Gordon and Hekmat, 1995). Number of most important, followed by distribution studies and service and price. McDaniel and Hise, purchasers indicated that the marketing (1984) found that chief executive officers mix components differ significantly in judge two of the 4 Ps, pricing and product importance (Jackson, Burdick and Keith, to be somewhat more important than the 1985). on other two – place (physical distribution) determination of key marketing policies and promotion. Kurtz and Boone (1987) and procedures common to successful found that on the average, business manufacturing firms (Jackson, Burdick persons ranked the 4 Ps to be of most and Keith, 1985). Udell (1964) determined importance in the following order: price, that these key policies and procedures product, included those related to product efforts Thus, it appears from these studies that and sales efforts. This followed in order by business executives do not really view the promotion, price, and a 4 Ps as being equally important, but replication of this survey, Robicheaux consider the price and product components (1976) to be the most important (Kellerman, received of considerable industry 5 attention. proposed, policies marketing of the industrial Two found had surveys that most marketers focused place. key In marketing changed significantly. distribution, and Gordon and Hekmat, 1995). promotion. ELK ASIA PACIFIC JOURNAL OF MARKETING AND RETAIL MANAGEMENT ISSN 0976-7193 (Print) ISSN 2349-2317 (Online); DOI: 10.16962/EAPJMRM/issn.2349-2317/2014 Volume 5 Issue 4 (2014) www.elkjournals.com ………………………………………………………………………………………………………………… The concept of 4Ps has been criticised as being a definition of production-oriented marketing, and not a Product is stated in the singular but most isolation. Marketers sell product lines, or perspective. Lauterborn (1990) claims that brands, all interconnected in the mind of each of these variables should also be seen the consumer. is accomplished The mix does not mention relationship by building which has become a major converting product into customer solution, marketing focus, or the experiences that price into cost to the customer, place into consumers buy. and promotion into The conceptualisation of the mix has communication, or the 4C’s. Möller implied marketers are the central element. (2006) highlighted 3-4 key criticisms This is not the case. Marketing is meant to against the Marketing Mix framework: be ‘customer-focused management’. The Mix does not consider customer Even, a study by Rafiq and Ahmed (1995) behaviour but is internally oriented. found that there is a high degree of The Mix regards customers as passive; it dissatisfaction with the 4Ps, however, 4Ps does not allow interaction and cannot is thought to be most relevant for capture relationships. introductory marketing and consumer The Mix is void of theoretical content; it marketing. The result also suggests that works primarily as a simplistic device the 7Ps framework has already achieved a focusing the attention of management. high degree of acceptance as a generic The Mix does not offer help for marketing mix among our sample of personification of marketing activities. respondents. Rafiq and Ahmed (1995) also A review of another article, “Revision: highlighted the strengths and weaknesses Reviewing of the 4Ps and 7Ps mixes . the Marketing (Fakeideas, 2008) found that: 6 referred to as a marketing management convenience, the unique elements of services marketing. companies do not sell a product in transformation The mix does not take into consideration customer-oriented (Popovic, 2006). It’s from a consumer’s perspective. This Mix” Conclusion ELK ASIA PACIFIC JOURNAL OF MARKETING AND RETAIL MANAGEMENT ISSN 0976-7193 (Print) ISSN 2349-2317 (Online); DOI: 10.16962/EAPJMRM/issn.2349-2317/2014 Volume 5 Issue 4 (2014) www.elkjournals.com ………………………………………………………………………………………………………………… Marketing mix as a paradigm for important to be considered (Low and Kok, management has continued to dominate 1997). As McCarthy (1960) argued that marketing dating back to the 1940s. The “the number of possible permutations of idea was further developed and refined by the marketing mix is infinite. McCarthy (1964) to what we commonly The criticism of marketing mix framework refer to as the 4Ps today. However dot- has led to the evolution of marketing theoy com evolution, has presented to the as well as practice. As such, the marketing marketing managers with a whole new mix is believed to be useful in the initial host of elements that have emerged from periods of the marketing concept when the internet domain. The new elements on larger proportion in the economy was one hand are closely associate with the represented by physical products. traditional offline arrangement while on the other hand, present revolutionary implications that are a Authors have attempted to include newer completely new characterization that is E- Ps like process, packaging, people to Marketing Mix (Kalyanam and McIntyre, address the variety of products and the 2002). dynamism of markets. Despite these Marketing mix design and implementation developments, the marketing mix still is a function of a firm’s resources, the continues to be based on the original 4Ps needs of its clients and the market of product, price, place and promotion. conditions. The significance of certain The deficiencies are possibly overlooked elements within the marketing mix will pertaining to the convenience offered by evolve continuously. Decisions on one this element of the mix are sure to impact the deficiencies, the 4Ps remain a staple of the other elements marketing mix (Kent and Brown, 2006). and worthy this of relation is framework. Table 1. Literature review of theory on consumer marketing 7 In spite of its ELK ASIA PACIFIC JOURNAL OF MARKETING AND RETAIL MANAGEMENT ISSN 0976-7193 (Print) ISSN 2349-2317 (Online); DOI: 10.16962/EAPJMRM/issn.2349-2317/2014 Volume 5 Issue 4 (2014) www.elkjournals.com ………………………………………………………………………………………………………………… Author Kotler (1984) Ohmae (1982) Robins (1991) Doyle (1994) Argumentts External and uncontrollable environmental factors are very important elements of the marketing strategy Programs. Proposition The Marketing Mix should include customers, environmental variables, and competitive variables. The marketing strategy is defined by three elements wherein no strategic angle is to be found. The marketing mix of 4Ps is extremely inward looking. Two additional Ps to the 4 traditional ones: Political power, and 3public Cs opinion characterize the marketing formulation. strategy: Customers, corporation and competitors. 4 Cs that reflect external perspective are: Customers, capabilities, the company and the competitors. For achieving marketing objectives and positioning the products, most managers will be required to add 2 Ps to the existing base of marketing mix. Bennett (1997) Customer orientation is in the inverse direction as suggested by the marketing mix. The framework lacks customer perspective. Yudelson 1999 8 The 21st century marketing cannot thrive on the 4Ps. A more dynamic and flexible framework is called for. Services and staff must be included in the marketing mix framework. Customer selection process is represented by 5Vs : Value, variety, viability, virtue and volume. 4 new Ps based on exchange activities: Product -Performance Price-Penalty Promotion-Perceptions Place-Process ELK ASIA PACIFIC JOURNAL OF MARKETING AND RETAIL MANAGEMENT ISSN 0976-7193 (Print) ISSN 2349-2317 (Online); DOI: 10.16962/EAPJMRM/issn.2349-2317/2014 Volume 5 Issue 4 (2014) www.elkjournals.com ………………………………………………………………………………………………………………… Schultz 2001 The 4Ps have lost relevance since markets are increasingly becoming consumer oriented. Adapted from: Möller (2006) 9 Market is guided by the customer. A new marketing system should be based on the triangular relationship of the customer, the marketer and the product. ELK ASIA PACIFIC JOURNAL OF MARKETING AND RETAIL MANAGEMENT ISSN 0976-7193 (Print) ISSN 2349-2317 (Online); DOI: 10.16962/EAPJMRM/issn.2349-2317/2014 Volume 5 Issue 4 (2014) www.elkjournals.com ………………………………………………………………………………………………………………… Table 2. Review of literature on relationship marketing 10 Author Arguments Rozenberg and Retention of customers should also be Czepiel (1992) considered just as important as acquisition of new ones. Proposition Retention Marketing Mix: Product extras, post sales communication, reinstating promotions, connections through sales-force, customized distribution, andpost-purchase communication. Gummesson (1994, 1997) The 4Ps have now become the contributing factors to marketing as opposed to being the founding basis. 30 R(elationship) elements describe marketing as a blend of relationships, interactions and networks. Grönroos (1994) The marketing mix framework lacks integrity and does not apply to all markets, is obsolete and highly product centric. The marketing mix is inappropriate to address a relation based approach. The necessary elements are better presented by Relationship marketing. Goldsmith (1999) Services are increasingly becoming significant to marketing of product and the design of marketing management. Apart from the 4Ps, additional 4Ps must be included- procedures, personnel, personalization and physical assets. ELK ASIA PACIFIC JOURNAL OF MARKETING AND RETAIL MANAGEMENT ISSN 0976-7193 (Print) ISSN 2349-2317 (Online); DOI: 10.16962/EAPJMRM/issn.2349-2317/2014 Volume 5 Issue 4 (2014) www.elkjournals.com ………………………………………………………………………………………………………………… Patterson and Ward (2000) Organizations today need to nurture customer relationships and thus the 4Ps lose relevance because of being output centric. Adapted from: Möller (2006) 11 The current market is reflected in the 4 information-intensive Cs: Customerisation, collaboration, clairvoyance and communication. ELK ASIA PACIFIC JOURNAL OF MARKETING AND RETAIL MANAGEMENT ISSN 0976-7193 (Print) ISSN 2349-2317 (Online); DOI: 10.16962/EAPJMRM/issn.2349-2317/2014 Volume 5 Issue 4 (2014) www.elkjournals.com ………………………………………………………………………………………………………………… Table 3. Review of literature on services marketing Author Booms and Bitner (1981) Arguments Services as a type of products were considered. Consequently, physical evidence, customers and employees and the process of service delivery were additionally included. Proposition In addition to the existing 4Ps, 3 new ones were suggestedprocess, participants and physical evidence. Cowell (1984) Originally, the marketing mix was designed for manufacturing units and not for service sector and thus it is found not inclusive by service sector managers. recommends the framework presented by Booms and Bitner Brunner (1989) Factors that affect services should be added within the 4Ps so that they become comprehensive. Generalization renders inadequacy to marketing tools. Marketing for services is controlled by peculiar features of services like inseparability, intangibility, variability and perishability. Concept Mix, Communication Mix Cost Mix and Channels Mix. New instruments and concepts must be developed Fryar (1991) Marketing of services is successfully driven by differentiation, segmentation, customer relationships and delivery quality. Requirements of successful marketing for services: Focus on quality, customer relationships and differentiation. Heuvel (1993) Customer’s interaction with the agent of delivery shapes his perceptions of service and quality. Marketing mix for services can be represented as: product, personnel, price, place and promotion. Ruston and Carson (1989) 12 ELK ASIA PACIFIC JOURNAL OF MARKETING AND RETAIL MANAGEMENT ISSN 0976-7193 (Print) ISSN 2349-2317 (Online); DOI: 10.16962/EAPJMRM/issn.2349-2317/2014 Volume 5 Issue 4 (2014) www.elkjournals.com ………………………………………………………………………………………………………………… (continued) Author Melewar and Saunders (2000) Arguments The visual identity of the firm and differentiation is based on the Corporate Visual Identity System (CVIS). Proposition Publications P should be added to the existing framework. Beckwit h (2001) Marketing today needs to emphasize on greater consumer satisfaction. Relationships, price, packaging and brand are the current important elements of marketing of services: Adapted from: Möller (2006) 13 ELK ASIA PACIFIC JOURNAL OF MARKETING AND RETAIL MANAGEMENT ISSN 0976-7193 (Print) ISSN 2349-2317 (Online); DOI: 10.16962/EAPJMRM/issn.2349-2317/2014 Volume 5 Issue 4 (2014) www.elkjournals.com ………………………………………………………………………………………………………………… Table 4. Review of literature on retail marketing Author Boekema et al. (1995) Arguments The choice of the consumer is influenced by the perception of the retail outlet, that is its image. The 4Ps of marketing can be used to enhance this image. Proposition Assortment, presentation, personnel, price policy, promotion and place constitute marketing mix for retail outlets. Rousey and Morganosk y (1996) Exclusive formats for retail must replace the original 4Ps. 4Ps should be replaced with Cs to suit retail: convenience, Customer needs, communication and cost to the customer. For web retail, the tasks of the marketer vary from traditional marketing. Here, identifying, establishing and maintaining relationships are important. For web retailing, interaction, database and networks constitute the marketing mix. Since consumers have become more sophisticated, service and procurement assume greater importance for marketers. Main elements are: target market, assortment and procurement of product, pricing, services. Wang et al. (2000) Kotler (2003) Adapted from: Möller (2006) 14 ELK ASIA PACIFIC JOURNAL OF MARKETING AND RETAIL MANAGEMENT ISSN 0976-7193 (Print) ISSN 2349-2317 (Online); DOI: 10.16962/EAPJMRM/issn.2349-2317/2014 Volume 5 Issue 4 (2014) www.elkjournals.com ………………………………………………………………………………………………………………… Table 5. Review of E-Commerce marketing literature Author Chaffey et al. (2000) Arguments The important elements for an effective website are the content, credibility, capture, commerce, community and customer orientation. Proposition Important factors for successful internet market planning are: integration, brand migration, potential audience, budget, strategic partnerships, organizational structure and marketing support. Lawrence et al. (2000) The traditional 4ps along with the people and packaging elements should be combined with 5 new Ps. The New Five Ps of Marketing are: persuasion, perspective, paradigm, passion and paradox. Bhatt and Emdad (2001) Businesses adapt the original 4Ps with new dimensions to suit the changingvalue chains in virtual marketing. New Character of the 4P’s Allen and Fjermestad (2001) 15 Product: new options for customised information - Place: no time and location restrictions, direct delivery - Price: price discrimination and customisation, price transparency - Promotion: action-oriented promotional activities are possible, promotional flexibility For applicant in e-commerce, the following changes are required: Certain changes need to be made to suit the existing 4Ps to internet marketing. Product: innovative and informative Place: better outreach Price: greater competition Promotion: direct selling ELK ASIA PACIFIC JOURNAL OF MARKETING AND RETAIL MANAGEMENT ISSN 0976-7193 (Print) ISSN 2349-2317 (Online); DOI: 10.16962/EAPJMRM/issn.2349-2317/2014 Volume 5 Issue 4 (2014) www.elkjournals.com ………………………………………………………………………………………………………………… Table 6. Strengths and weakness of the 4Ps and 7Ps Strengths 7Ps exhaustive precise clarity wider perspective Includes participants regularity Supports theories of marketing Weaknesses complex 4Ps Simple and easy to understand Easily remembered Dogmatic tool providence useful model flexible Extremely simplistic unnecessary new characterization Ignores participants governance of additional elements. Physical evidence Disintegration among variables Ignores service marketing Passive Adapted from: Rafiq and Ahmed (1995) References [1] Aldridge, A., Forcht, K. & Pierson, J. (1997). Get Linked or Get Lost: Marketing Strategy for the Internet. 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