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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]
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.
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] He is known for popularizing the definition of marketing mix.
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.
Value-oriented framework, analyzing ethical problems on the basis of the values which they infringe (e.g. honesty, autonomy, privacy, transparency).An example of such an approach is the American Marketing Association Code of Ethics.
These are the programs that marketing decision makers , use to collect, analyze, and manage data for the purpose of developing the information necessary for marketing decisions. 3. Database marketing. A marketing database is a system in which marketing data files are organized and stored. 4. System support. This component consists of system ...
The traditional marketing mix refers to four broad levels of marketing decision, namely: product, price, promotion, and place. [19] When implemented successfully, these activities should deliver a firm's products or services to target consumers in a cost efficient manner. The four core marketing activities include: product, price, place and ...
What Sticks was named the #1 Book in Marketing by Ad Age [3] and is required reading at leading universities including the Wharton School of the University of Pennsylvania [4] and Harvard, [5] suggesting that the Marketing Effectiveness continues to be an important business topic. A preferred marketing effectiveness analysis is marketing mix ...