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Service-dominant (S-D) logic, in behavioral economics, is an alternative theoretical framework for explaining value creation, through exchange, among configurations of actors.
The marketing mix has been defined as the "set of marketing tools that the firm uses to pursue its marketing objectives in the target market". [2] Marketing theory emerged in the early twenty-first century. The contemporary marketing mix which has become the dominant framework for marketing management decisions was first published in 1984. [3]
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.
Before joining Penn State University as a faculty member in 1981, Lilien was an assistant professor at the MIT Sloan School of Management.He has authored or co-authored twenty books, including the very popular Marketing Models with Phil Kotler and Sridhar Moorthy, [1] Marketing Engineering with Arvind Rangaswamy and most recently, Principles of Marketing Engineering, with Arvind Rangaswamy and ...
Societal marketing is a philosophy or mindset that informs marketing decisions whereas social marketing is a distinct branch within the marketing discipline. Societal marketing is concerned with the consideration of the social and ethical aspects of marketing planning.
The marketing management school, evolved in the late 1950s and early 1960s, is fundamentally linked with the marketing mix [36] framework, a business tool used in marketing and by marketers. In his paper "The Concept of the Marketing Mix", Neil H. Borden reconstructed the history of the term "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.
Bayesian decision theory can be applied to all four areas of the marketing mix. [11] Assessments are made by a decision maker on the probabilities of events that determine the profitability of alternative actions where the outcomes are uncertain. Assessments are also made for the profit (utility) for each possible combination of action and event.