The consumer products classification system is a model commonly presented in most marketing principles textbooks in the product mix chapter. This model classifies as consumer products into one of four classes, namely: Convenience products Shopping products Specialty products Unsought products There are numerous articles discussing the consumer products classification system on this website, please refer … Read more…
The importance of product in the marketing mix Marketing textbooks typically list all four elements (that is, the 4P’s) of the marketing mix equally in their diagrams. However, these textbooks usually structure product as the first chapter of the marketing mix. This clearly indicates there is some hierarchy to the importance of products in the … Read more…
Understanding the 4C’s The traditional 4P’s marketing mix was developed from the point of view of the organization. Each of the marketing mix elements relates to something that the firm needs to do to be successful in the marketplace. For example, they need to develop a range of products to sell, they then need … Read more…
Benefits of the marketing mix The marketing mix has been a fundamental concept of marketing textbooks the past 50 years or more. This article explores the benefits and the role of the marketing mix in both the study and the practice of marketing. As a learning tool While one of the limitations of the … Read more…
The extended marketing mix for services (the 7P’s) Services marketing emerged primarily in the 1980s, as more developed economies became more reliant on services as part of their overall gross domestic product. (Please see the article on service firm examples to have better sense of types of industries that need to operate under the … Read more…
The 12 Component Marketing Mix Neil Borden, of the Harvard Business School, was the first to document the concept of a marketing mix, way back in the 1950s. At that stage, the marketing profession was still considered to be art, not science, and in his paper, it compared a marketer to a chef in … Read more…
What is the traditional marketing mix? E. J. McCarthy, in 1960, classified the marketing activities into a tool designed to describe the 4 types of choices an organization has to make in order to successfully be engaged in marketing. His classification was a simplification of Borden’s initial 12 component marketing mix.This classification is also … Read more…
Overview of the 4P’s Marketing Mix A key model in marketing is the marketing mix, usually known as the 4P’s (where the 4P’s are product, price, place and promotion). The 4P’s marketing mix model is commonly covered in all marketing textbooks, with some introductory texts also addressing the expanded marketing mix (the 7P’s), which … Read more…
