A Review of Marketing Mix: 4Ps or More?
- Chai Lee Goi
AbstractThe main objective of this study is to review the present marketing mix applies particularly to the marketing. Borden (1965) claims to be the first to have used the term marketing mix and that it was suggested to him by Culliton’s (1948). McCarthy (1964) offered marketing mix, often referred to as the 4Ps, as a means of translating marketing planning into practice (Bennett, 1997). Marketing mix is originating from the single P (price) of microeconomic theory (Chong, 2003). Number of researchers (eg. Grönroos, 1994; Constantinides, 2002; Goi, 2005; Möller, 2006) explores more Ps instead of traditional 4Ps only currently applied in the market. However, the creation of new P seem like unstop. New Ps were introduced into the marketing scene in order to face up into a highly competitively charged environment (Low and Tan, 1995). Even, Möller (2006) presents an up-to-date picture of the current standing in the debate around the Mix as marketing paradigm and predominant marketing management tool by reviewing academic views from five marketing management sub-disciplines (consumer marketing, relationship marketing, services marketing, retail marketing and industrial marketing) and an emerging marketing (E-Commerce). The concept of 4Ps has been criticised by number of studies. Popovic (2006) criticised 4Ps as being a production-oriented definition of marketing, and not a customer-oriented. However, in spite of its deficiencies, the 4Ps remain a staple of the marketing mix. The subsequent Ps have yet to overcome a consensus about eligibility and agreement over the practical application (Kent and Brown, 2006).
This work is licensed under a Creative Commons Attribution 4.0 License.
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