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The marketing mix is the set of controllable elements or variables that a company uses to influence and meet the needs of its target customers in the most effective and efficient way possible. These variables are often grouped into four key components, often referred to as the "Four Ps of Marketing." These four P's are:
Thus, developments in marketing theory inform marketing practice and vice versa. The history of marketing will remain incomplete if one disassociates academia from practitioners. [4] The publication, in 1960, of Robert J. Keith's article, "The Marketing Revolution", was a pioneering work in the study of the history of marketing practice. [5]
It described theory and practice, and drew on findings from empirical studies and cases. On December 9, 1996, the Financial Times cited Marketing Management as one of the 50 greatest business books of all time {December 9, 1996} Kotler is the author and co-author of over 166 published articles and 80 books. [11]
Blue Ocean Strategy is a book published in 2005 written by W. Chan Kim and Renée Mauborgne, professors at INSEAD, [1] and the name of the marketing theory detailed on the book. They assert that these strategic moves create a leap in value for the company, its buyers, and its employees while unlocking new demand and making the competition ...
Marketing or product differentiation is the process of describing the differences between products or services, or the resulting list of differences. This is done in order to demonstrate the unique aspects of a firm's product and create a sense of value. Marketing textbooks are firm on the point that any differentiation must be valued by buyers ...
Labeling theory was developed by sociologists during the 1960s. Howard Saul Becker's book Outsiders was extremely influential in the development of this theory and its rise to popularity. Labeling theory is also connected to other fields besides crime. For instance there is the labeling theory that corresponds to homosexuality. Alfred Kinsey ...
Brand management is the process of identifying the core value of a particular brand and reflecting the core value among the targeted customers. In modern terms, a brand could be corporate, product, service, or person. Brand management builds brand credibility and credible brands only, can build brand loyalty, bounce back from circumstantial ...
Marketing. Brand awareness is the extent to which customers are able to recall or recognize a brand under different conditions. [1] Brand awareness is one of two dimensions from brand knowledge, an associative network memory model. [2] It is a key consideration in consumer behavior, advertising management, and brand management.