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The original marketing mix, or 4 Ps, as originally proposed by marketers and academic Philip Kotler and E. Jerome McCarthy, provides a framework for marketing decision-making. [6] McCarthy's marketing mix has since become one of the most enduring and widely accepted frameworks in marketing. [22]
Marketing mix, may refer to two possible marketing-related concepts: Four 'C's in 7Cs compass model (Co-marketing) Four 'C's in consumer-oriented model
Marketing mix modeling (MMM) is an analytical approach that uses historic information to quantify impact of marketing activities on sales. Example information that can be used are syndicated point-of-sale data (aggregated collection of product retail sales activity across a chosen set of parameters, like category of product or geographic market) and companies’ internal data.
The 4 C's or marketing mix, a business tool used in marketing products; The 4 C's of 21st century skills education: Collaboration, Communication, Critical thinking, Creativity; FourCC, a four-character code used in software for identifying an object; Zen 4c
A marketing mix is a foundational tool used to guide decision making in marketing. The marketing mix represents the basic tools that marketers can use to bring their products or services to the market. They are the foundation of managerial marketing and the marketing plan typically devotes a section to the marketing mix.
Marketing mix is the most important part of marketing strategy, which is "the framework to manage marketing and incorporate it within a business context [6] ". Marketing strategy: how a business achieves its marketing objectives. The initial step to achieve a marketing strategy is to identify the market target and build up a business plan. [6]
In 1972, Koichi Shimizu devised the "4Cs of marketing mix (Commodity, Cost, Communication, Channel)." "Commodity" is a Latin word that means "comfortable together," so the term "co-created goods and services." [5] In 1979, Koichi Shimizu announced the concept of "co-marketing" at an academic conference.
The extended marketing mix is used in the marketing of services, ideas and customer experiences and typically refers to a model of 7 Ps and includes the original 4 Ps plus process, physical evidence and people. Some texts use a model of 8 Ps and include performance level (service quality) as an 8th P.