Marketing Mix Case Study

Improved Essays
- “Internal Orientation: a frequent objection underlying the Mix's explicit lack of customer orientation. Kotler (1984), Robins (1991), Vignali and Davies (1994) Bennett (1997) and Schultz (2001) are one way or another identifying this as the prime limitation of the Mix.
- Lack of consumer interactivity: Doyle (1994), and Yudelson (1999) argue that the Mix ignores the evolving nature of the consumer who demands not only higher value but also more control on the communication and transaction process. Allowing better interaction reduces the customer defection rates and increases customer trust.
- Lack of strategic elements: Ohmae (1982) Vignali and Davies (1994) argue that lack of strategic content is a major deficiency of the framework, making
…show more content…
the mass-market orientation of the Mix, can likewise be traced in the origin of the framework. Significant shif ts of consumer behaviour (individualisation, diminishing brand preference, value orientation, increasing sophistication etc.) have undermined the effectiveness of the impersonal one-way communication and the mass marketing approaches. The constant stream of new technologies available to businesses and customers not only reduces transaction and switching costs but also offers to customers more choices, global access of products or services and new possibilities in addressing individual and very specific needs. In such an environment the service and the personalised client approach have become imperatives; one should expect that the Marketing in the 21st century will become not only more sophisticated but also much more interactive and individual. The quality of the personal relationship between seller and customer and successful customer retention are becoming basic ingredients of commercial performance in all markets, either consumer or institutional ones.
I would call the additions proposed above to the 4Ps as development of 4Ps rather than criticism on the 4Ps to be fair to a theory that was applied successfully applied for more than 40 years over huge number of organizations and academic
…show more content…
Doubts on the hands-on practical value of the Mix as a marketing toolkit are echoed by scepticism expressed as to its value as a teaching tool (Rafiq and Ahmed 1992).”
If marketing is to exist as a significant value-adding corporate activity in the future (Porter 1985), marketers must focus their attention on getting better insight on the dynamics and the constantly changing rules of the marketing environment of the 21st century. Instead of managing the 4Ps-defined processes managers should focus on the factors underlining customer value as well as building market­ oriented, flexible and inventive organisations, able to constantly innovate and adapt to fast-changing market conditions.

Based on the assessment made to the 4Ps in this study, the conclusion is to support the 4Ps to be a base for any future paradigm for marketing management due to its simplicity , applicability and richness.
“Winning companies are those that meet customer needs economically and conveniently and with effective communication. Prentice-Hall, Inc. Philip Kotler, Marketing Management, Millennium Edition Prentice-Hall, Inc.

Related Documents

  • Great Essays

    P3- Compare the ways in which at least two organisations of your choice apply the marketing mix (7P’s) to the marketing planning process to achieve business objectives Definition of marketing mix When it comes to defining marketing mix in words, then it would be referred as the actions and methods used by a business to promote their products or services. The marketing mix is important, because each of the elements on the diagram above influence each other when taking decisions. These 7P’s make up the whole business plan and if they are practiced in the right way there would be a great success to the business. (The economic times, no date) Title: Marketing Mix diagram:…

    • 1857 Words
    • 8 Pages
    Great Essays
  • Superior Essays
    • 4623 Words
    • 19 Pages
    Superior Essays
  • Improved Essays

    The Social factors and evaluating the market segment of Kroger’s Simple Truth Organic Consumer behavior model has turned into a critical device in comprehending customer buying choice making procedure. Consumer behavior is the investigation of how a buyer considers, feels, and chooses between contending items. Consumer behavior is the investigation of how people, groups, and associations select, purchase, utilize, and discard merchandise, administrations, thoughts, or encounters to fulfill their needs and wants (Kotler & Keller, 2012). A strong comprehension of consumer behavior is important in light of the fact that purchaser activities impacts the achievement or disappointment of showcasing system, and in light of the fact that organizations must make a marketing mix that fulfills clients.…

    • 1090 Words
    • 5 Pages
    Improved Essays
  • Superior Essays

    In the article Marketing is Everything, Regis McKenna, describes the transformation of marketing throughout the years as technology became more advanced, marketing has shifted to a consumer focus instead of a profit focus. As McKenna has stated, “Marketing has shifted from tricking the customer to blaming the customer to satisfying the customer. (McKenna, 1991)”. Although it may seem as though this phrase is an overstatement, it is actually demonstrating the growth of the marketing industry and their adaptation to meet the needs of the consumer. The fundamental perception of marketing is to “integrate the customer into the company, to create and sustain relationship between the company and the customer” (McKenna, 1991).…

    • 1270 Words
    • 6 Pages
    Superior Essays
  • Superior Essays

    A. The Problem It is difficult to figure out the attitude of the two principal companies, since both have a few opposing traits in regards to their channel design and how they reach their target segments. Over the product life cycle, the Market Channel Design continues to change so we need to figure out a plan to proceed with this continuous movement. In addition, the different market segments that Borg-Warner Chemicals and General Electrics possess may need a different channel design in order to meet the needs of their individual customer’s form, time, place, and possession. Both competitors currently have two opposing channel designs that target contradicting markets, where Borg-Warner is primarily focused on a smaller audience and General…

    • 1169 Words
    • 5 Pages
    Superior Essays
  • Improved Essays

    Carmax Target Market

    • 461 Words
    • 2 Pages

    With the advancement in technology, marketers today are able to tailor the product as of their customer needs. Based on the data available it has become easier than ever for marketers to recognize their target audience. Costumers also have become accustomed to this marketing behavior and expect the companies to deliver their specific needs. Understanding customer needs in consumer market is a difficult process but very vital for marketers. Markets must be able to identify individuals with common characteristics and segment them from the total market.…

    • 461 Words
    • 2 Pages
    Improved Essays
  • Improved Essays

    I understood how important a great company culture is to a company. If there was not a sense of purpose to the customers, then the customers may have felt less obligated to fight for Arthur T. I also understood that company’s decisions can have impact on many people, from customers and employees, to produce distributor and local economies. A company is nothing without its customers. One way to build a strong relationship is by having the customers interest as the company's priority. Market basket proved that they can do this all the while make a profit.…

    • 762 Words
    • 4 Pages
    Improved Essays
  • Improved Essays

    Evidently, businesses require a greater understanding of the forces that drives these marketing principles in order to maintain an edge in their usual business without facing with eroding margins, risks, underleveraged partnerships and operational difficulties. Increasingly modernistic clients: This is a typical driving force of the marketing principles and the impetus…

    • 700 Words
    • 3 Pages
    Improved Essays
  • Improved Essays

    ASSESSMENT Task 2 BSBMKG502B ESTABLISH AND ADJUST THE MARKETING MIX PROCEDURES 1- SUBWAY Fred DeLuca founded the SUBWAY® chain in Connecticut, USA, in 1965. The company has since grown into a multi-billion dollar business, with more than 30,000 outlets in 87 countries. In March 2011, there were 1254 open SUBWAY® restaurants in Australia. With the popularity of the brand at an all time high, there are ambitious plans to continually open more SUBWAY® restaurants in Australia in the future.…

    • 665 Words
    • 3 Pages
    Improved Essays
  • Improved Essays

    Before Medibank can decide on what promotional mix to use, Medibank should consider the changing marketing communication landscape. These include advent of specialty media, especially digital, rising media costs, declining audiences for traditional media, availability of ‘on-demand’ viewing and listening i.e. time shifting and ‘zapping’, ‘cross-screening’ meaning the usage of tablets, smartphones & TV, availability of rich content that facilitates interaction and engagement, and audience fragmentation and the desire to communicate with more tightly targeted, smaller groups of consumers. These factors will help Medibank in deciding with which promotional mix to undergo. Thus, Medibank need to consider an integrated marketing communications.…

    • 1004 Words
    • 5 Pages
    Improved Essays
  • Improved Essays

    Traditional Theories Traditional marketing depends on three main points the products, consumer’s needs and the compotators. According to Kotler traditional marketing is a group of process where the individuals can exchange services and goods according to their needs Marketing Mix One of the traditional theories is “Marketing Mix” this theory is created in 1960 by E. Jerome McCarthy which aims to collect the 4P’S with marketing mix. The four points are Product: it should fits the consumer’s needs and what they want…

    • 936 Words
    • 4 Pages
    Improved Essays
  • Great Essays

    1.0 Introduction This report discusses how successful organizations use marketing mix elements in order to increase the revenue of their business, therefore the researcher has chosen the company NIKE, Inc. to explain the above. The researcher shall give an introduction about the company and then give a detailed analysis on why marketing is important in a business and how NIKE, Inc. applies the 4 P’s of marketing in order to escalate their revenue. The Chartered Institute of Marketing (2009, p.2) defines the recognizing and satisfying of the consumers’ needs in a profitable way as marketing. Marketing Mix (no date) states that one of the greatest contributions towards the field of marketing, the 4P’s (Product, Price, Promotion and Place) also…

    • 1494 Words
    • 6 Pages
    Great Essays
  • Great Essays

    The actions that can be taken by marketers to attract and keep customers is known as the marketing mix. The marketing mix is popularly known as the four P’s of product, price, promotion, and place. For a successful trade to occur, the customer must see a value in the product or service. A value proposition is a promise to customers of the value to be delivered in exchange for some…

    • 1041 Words
    • 4 Pages
    Great Essays
  • Improved Essays

    In this assignment we will discuss the concept of one to one marketing. We will investigate the steps a business needs to take to engage its customers with one to one marketing. What is One-to-One Marketing? According to Tanner, J., & Raymond, M. (2010, February 1) the concept of One-to-One was proposed by Don Peppers and Martha Rogers in their book called-…

    • 815 Words
    • 4 Pages
    Improved Essays
  • Improved Essays

    An appropriate match is vital to the firm’s market success. There are three alternative strategies for achieving consumer satisfaction, undifferentiated marketing, differentiated marketing, Concentrated marketing, For example Coca-Cola company is adopting the undifferentiated marketing or mass marketing for all Coca cola brands globally or Reebok practises differentiated marketing because it offers various walking shoes to satisfy the needs of different type of walkers because no one shoe will satisfy all walkers needs so its strategy is to segment the walking…

    • 706 Words
    • 3 Pages
    Improved Essays