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Philip Kotler (born May 27, 1931) is an American marketing author, consultant, and professor emeritus; the S. C. Johnson & Son Distinguished Professor of International Marketing at the Kellogg School of Management at Northwestern University (1962–2018). [1]
The contemporary marketing mix which has become the dominant framework for marketing management decisions was first published in 1984. [3] In services marketing, an extended marketing mix is used, typically comprising the 7 Ps (product, price, promotion, place, people, process, physical evidence), made up of the original 4 Ps extended by ...
Megamarketing is a term coined by U.S. marketing academic, Philip Kotler, [1] [2] [3] to describe the type of marketing activity required when it is necessary to manage elements of the firm's external environment (governments, the media, pressure groups, etc.) as well as the marketing variables; Kotler suggests that two more Ps must be added to the marketing mix: public relations and power.
The "marketing mix" (also known as the four Ps) is a foundation concept in marketing and has defined the so-called managerial approach since the 1960s. The marketing mix or marketing program is understood to refer to the "set of marketing tools that the firm uses to pursue its marketing objectives in the target market". [40]
In marketing, segmenting, targeting and positioning (STP) is a framework that implements market segmentation. [1] Market segmentation is a process, in which groups of buyers within a market are divided and profiled according to a range of variables, which determine the market characteristics and tendencies. [2]
Marketing research is a systematic process of analyzing data that involves conducting research to support marketing activities and the statistical interpretation of data into information. This information is then used by managers to plan marketing activities, gauge the nature of a firm's marketing environment and to attain information from ...
More broadly, marketing managers work to design and improve the effectiveness of core marketing processes, such as new product development, brand management, marketing communications, and pricing. Marketers may employ the tools of business process re-engineering to ensure these processes are properly designed, and use a variety of process ...
Marketing planning or the process of developing a marketing program requires a detailed understanding of the marketing framework including Consumer behavior; Market segmentation and Marketing research. In the process of understanding the consumer market to be served, marketers may need to consider such issues as: