Piercy 1 journal of the academy of marketing science volume 26, pages 222 236 1998 cite this article. Jan 27, 2012 the purpose of this paper is to organize the semantics jungle of marketing strategy approaches, terms and concepts into a logically coherent framework using the history of marketing thought to inform current marketing research and practice. The american manufacturer, through its marketing strategy which rests on a favorable brand image, has evolved into a large. Rodgers, the marketing audit has six major semiautonomous componentsthe marketing environment, marketing strategy, marketing organization, marketing systems, marketing productivity, and marketing. This document is fe709, one of a series of the food. Pdf marketing mix of 4ps for competitive advantage genevieve.
The impact of marketing mix 4ps on marketing audit and. Aug 05, 2014 the 4ps were formalized and developed over the years by experts to ensure the creation and execution of a successful marketing strategy. Theories of marketing management and strategy need to evolve and change to keep pace with changes in the marketplace and in marketing practice goldsmith, 1999. Marketing programme the aim of marketing programmes is to ensure that the practical realisation of the marketing strategies adopted. Marketing is a process within company to create value and build mutual relationship with its customer. The formulation of a marketing mix depends on the nature of the activities of the organization and the nature of the targeted market. Domain, definition, fundamental issues and foundational premises article pdf available in journal of the academy of marketing science 382. According to goi 2005 marketing mix is a set of the marketing tools that firms use. Business executives draw a successful marketing strategy from market research. In particular, the marketing mix or 4ps product, price, promotion, and place. It must be put together in such a way as to enable. When properly understood and utilized, this mix has proven to a key factor in a products success. The traditional marketing mix, built around the 4ps product, price, place and promotion arguably discount the breadth and complexity of currentday marketing.
A marketing strategy is a business overall game plan for reaching people and turning them into customers of the product or service that the business provides. There are four critical elements in marketing your products and business. Marketing strategies which includes the market strategies and marketing mix strategies simultaneously have significant influence on the performance marketing as 34. A firm strives to survive in the market and to compete by differentiating its products and services in terms of cost, price, quality, and so on. The impact of marketing mix elements on customer loyalty for an algerian telecommunication company. Pdf marketing mix of 4ps for competitive advantage. Volume 36 2020 volume 35 2019 volume 34 2018 volume 33 2017 volume 32. Marketing mix theoretical aspects international journal of. Marketing planning is a behavioural phenomenon since it consists of the adoption of the technology. Pdf the paper aims to investigate the influencing of marketing mix mm elements. The effect of marketing mix in attracting customers. Marketing mix, a term coined by neil borden, are the ingredients that combine to capture and promote a brand or products unique selling points, those that differentiate it from its competitors. The implications of marketing paradigm weakness for the strategy execution process nigel f. This bibliography was generated on cite this for me on friday, august 14, 2015 journal.
It is always based on the principle of market segmentation for smes, which suggest the implementation of marketing strategy in a focused concentrated market. These days, the tomelike marketing plan is out and the pithy pocket version is in. Browse the list of issues and latest articles from journal of marketing management. So, for considering these two factors, other factors in marketing decision. This paper explores the existing relationships between the four selected marketing mix of three leading fmcg companies. A marketing strategy is an integrated set of choices about how we will create and capture value, over long periods of time. According to a study by smart insights, 46% of brands dont have a defined digital marketing strategy yet, and 16% do have a strategy but havent put.
Thus, despite the decision of institutions concerning a number of variables. Marketing mix is originating from the single p price of. Strategies for marketing mix of 4ps for competitive advantage the marketing mix by 4ps is a conjuration and it can only be implemented by marketing managers. Marketing strategy can be defined as a strategy or plan by a company to. Marketing strategies and their impact on marketing.
By adding people, physical assets, and process to the marketing. Pdf the paper assesses the current standing of the 4ps marketing mix framework as the. The four ps are the categories that are involved in the marketing of a good or service, and they include product, price, place and promotion. But the rate of customer participation and also the time are important in service delivery. The key to a sustainable strategy and positioning is an. Its time to retool the 4 p s of marketing for todays b2b reality. The 4ps were formalized and developed over the years by experts to ensure the creation and execution of a successful marketing strategy. Starting with developing a product based on customers needs and. The purpose of this study is to rank the most important and effective marketing. Study of marketing mix and aida model to purchasing on line product in indonesia ernani hadiyati economic and business faculty, gajayana university, malang, indonesia abstract. They also focus on the right product mix so that they can get the most profit. Marketing mix, commonly known as the mccarthys 1960 4ps, consists of product, price, place and promotion. Rodgers, the marketing audit has six major semiautonomous componentsthe marketing environment, marketing strategy, marketing organization, marketing systems, marketing productivity, and marketing function.
The role of service marketing mix and its impact on. Introduction the purpose of competitive strategy is to achieve a sustainable competitive advantage. The right product to satisfy the needs of your target customer. Naylor and wood 1978 propose seven categories, four of which relate to the marketing mix. This is an area that has received less attention from researchers in recent years, and accordingly we brie.
Therefore, the 4p marketing mix model may not valid on the internet age, the 4c and the 4s model are some alternatives. Marketing planning advocates have argued that adoption of marketing planning technology provides. Ranking the most effective marketing mix elements on the sales of. Gain the tools and techniques to translate a decision problem into a research question in the market research module. Essentially, marketing strategy is a plan that allows a business owner to direct activities that are consistent with the goals of the business owner and organization and spend money wisely in order to create the greatest amount of return on investment. A marketing plan for turbulent times ivey business journal. This strategy is combined with the other marketing pricing strategies that are the 4p strategy products, price, place. Keep it simple stupid was the preferred strategy of the time. Laesser university of st gallen, switzerland, christian. These are the sources and citations used to research marketing mix and the 4ps. Aim of article is to analyze marketing mix theoretical aspects. Electronic journal of information systems evaluation, 11, 1258.
The first course in this specialization lays the neccessary groundwork for an overall successful marketing strategy. After outlining your strategies and setting your goals, begin outlining campaign ideas to bring your strategies to life. A good marketing strategy should be characterized by a clear. Marketing mix is the set of the marketing tools that the firm uses to pursue its marketing objectives in the target market kotler, ang, leong and tan, 1999. As a framework for finetuning the marketing mix, the psproduct, place, price, and promotionhave served consumer. The impact of marketing mix on the competitive advantage. Within a given environment, marketing strategy deals essentially with the interplay of three forces known as the strategic 3 cs. It discusses the approach and the positive results of fmcg companies dominating the current marketing paradigm.
Marketing mix is a greatest strategy for attaining competitive advantage for any firm. And finally, 4ps the classic marketing mix elements which determine what a company offers to its customers and how. Journal of management and marketing research role of relationship marketing, page 2 1. The impact of marketing mix elements on customer loyalty for. Marketing mix, 4p, price, place, product, promotion. Marketing planning, market orientation and business performance. The most important strategy of marketing in our modern era is marketing mix mm which. According to alexander 12, when travel agents sell a travel product to a customer, they will charge a percentage of the sales price as an agency commission.
The university of baghdad was among the first universities to establish elearning education center for staffs and students who could not make themselves available for conventional education. Decisions about future marketing by marketers should also affect the final consumer and commercial channels. Mccarthy 1964 offered marketing mix, often referred to as the 4ps, as a means of translating marketing planning into practice. Through the use of this tool, the attempt is to satisfy both the customer and the seller. Analyzing the effectiveness of marketing strategies in the. Iosr journal of business and management iosrjbm issn. International journal of research granthaalayah, vol. The services marketing mix differs chiefly from the 4ps by the addition of three new decision responsibilities that must be integrated to form a coherent and effective services marketing mix. Role of relationship marketing in competitive marketing strategy. Marketing strategy how to develop killer strategies foundr. Mccarthy 1964 offered marketing mix, often referred to as the 4ps, as a means of translating marketing planning into practice bennett, 1997. The relationship between marketing mix and customer decision. The impact of marketing mix on the competitive advantage of the.
Pricing strategy is a way of finding a competitive price of a product or a service. The sme sector in al buraimi is working very hard to create a competitive advantage by developing its products and services, and establishing a marketing mix strategy to achieve this goal. Article information, pdf download for the impact of marketing mix on the. Companies spend effort to find the most efficient marketing mix in order to implement a successful marketing strategy. A marketing strategy is all of a companys marketing goals and objectives combined into a single comprehensive plan. The impact of marketing mix elements on customer loyalty. Understanding the marketing mix concept 4ps cleverism. Journal of international marketing article pdf available in journal of international marketing january 2014 with 16,680 reads how we measure reads. Abstract the rise in popularity of organizations integrating technology into their marketing.
That strategy and the acronym is enjoying a limited revival in these difficult times, especially in the researchobsessed, insightseeking marketing domain. Marketstrategies significant influence on the marketing mix strategies as 49. Apr 19, 2020 marketing mix of himalaya herbal analyses the brandcompany which covers 4ps product, price, place, promotion and explains the himalaya herbal marketing strategy. However, the pricing strategy of the sme sector in al buraimi is to try to set. A comparative study on marketing mix models for digital products. The impact of marketing mix on the competitive advantage of. Creating an annual marketing plan, if done properly, forces you to think through your positioning and brand strategy, along with your pricing, distribution, sales and customer retention strategies.
The 4s web marketing model scope, site, synergy and system is put forward by constantinides 10, which is designed for depicting enterprise strategy in ebusiness. Marketing strategy is the comprehensive plan formulated particularly for achieving the marketing objectives of the organization. The effect of marketing mix in attracting customers academic. A read is counted each time someone views a publication summary such as the title, abstract, and list of authors, clicks on a figure, or views or downloads the fulltext. Marketing mix 7p and performance assessment of western. Marketing mix and the 4ps businessmarketing bibliographies. Marketing planning, market orientation and business. It provides a blueprint for attaining these marketing objectives.