Marketing Mix / 4 Ps / Marketing Complex
The marketing mix refers to variables that a marketing manager can control to influence a brand’s sales or market share.Traditionally, these variables are summarized as the four Ps of marketing: product, price, promotion, and place
The marketing mixrepresents the way in which an organization’s broad marketing strategies are translated into marketingprograms for action. The original components of marketing mix are: product, price, place and promotion .
Given the breadth, complexity, and richness of marketing, however as exemplified by holistic
marketing clearly these four Ps are not the whole story anymore. If we update them to reflect the
holistic marketing concept, we arrive at a more representative set that encompasses modern marketing
realities: people, processes, programs, and performance.
People reflects, in part, internal marketing and the fact that employees are critical to marketing
success.
Processes reflects all the creativity, discipline, and structure brought to marketing management.
Programs reflects all the firms consumer-directed activities. It encompasses the old four Ps as
well as a range of other marketing activities that might not fit as neatly into the old view of marketing.
We define performance as in holistic marketing, to capture the range of possible outcome measures
that have financial and nonfinancial implications (profitability as well as brand and customer equity),
and implications beyond the company itself (social responsibility, legal, ethical, and community related) .
⠀ Tellis, G. J. (2006). Modeling Marketing Mix. Retrieved from: https://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.120.3536&rep=rep1&type=pdf.
⠀ Burnett, J. (2008). Core Concepts of Marketing. Retrieved from http://www.freeinfosociety.com/media/pdf/2936.pdf.