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Still confuse about marketing mix? After reading this article I am sure you get insight about this. Today, I write short article about marketing mix classification. I got this information from books and Wikipedia site. In order to memorize the information, I wrote it all to my blog.
In popular usage, "marketing" is the promotion of products, especially advertising and branding. However, in professional usage the term has a wider meaning which recognizes that marketing is customer centered.
Products are often developed to meet the desires of groups of customers or even, in some cases, for specific customers.
E. Jerome McCarthy divided marketing into four general sets of activities. His typology has become so universally recognized that his four activity sets, the 4 Ps, have passed into the language.
The four Ps are:
1. Product: The Product management and Product marketing aspects of marketing deal with the specifications of the actual good or service, and how it relates to the end-user's needs and wants.
2. Pricing: This refers to the process of setting a price for a product, including discounts.
3. Promotion: This includes advertising, sales promotion, publicity, and personal selling, and refers to the various methods of promoting the product, brand, or company.
4. Placement or distribution refers to how the product gets to the customer; for example, point of sale placement or retailing. This fourth P has also sometimes been called Place, referring to the channel by which a product or service is sold (e.g. online vs. retail), which geographic region or industry, to which segment (young adults, families, business people), etc.
Marketing mix classification
Four Ps
In popular usage, "marketing" is the promotion of products, especially advertising and branding. However, in professional usage the term has a wider meaning which recognizes that marketing is customer centered.
Products are often developed to meet the desires of groups of customers or even, in some cases, for specific customers.
E. Jerome McCarthy divided marketing into four general sets of activities. His typology has become so universally recognized that his four activity sets, the 4 Ps, have passed into the language.
The four Ps are:
1. Product: The Product management and Product marketing aspects of marketing deal with the specifications of the actual good or service, and how it relates to the end-user's needs and wants.
2. Pricing: This refers to the process of setting a price for a product, including discounts.
3. Promotion: This includes advertising, sales promotion, publicity, and personal selling, and refers to the various methods of promoting the product, brand, or company.
4. Placement or distribution refers to how the product gets to the customer; for example, point of sale placement or retailing. This fourth P has also sometimes been called Place, referring to the channel by which a product or service is sold (e.g. online vs. retail), which geographic region or industry, to which segment (young adults, families, business people), etc.
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