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Essay / Research Paper Abstract
This 5-page paper discusses whether the marketing mix of product, pricing, promotion and placement can work in an international context. Bibliography lists 3 sources.
Page Count:
5 pages (~225 words per page)
File: AS43_MTfourpglo.doc
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Unformatted sample text from the term paper:
as the "marketing mix"). By determining the product or service a customer wanted, and using pricing strategies to make it affordable to the target audience, placement (distribution) to provide easy
access and promotion (such as advertising) to get the message to the target, McCarthy believed that companies could do a better job of selling products and services. Using the 4
Ps, it was reasoned, meant that organizations actually had an understanding of what the consumer wanted, and could then focus activities and resources around these needs and desires.
The 4 Ps were a revelation, especially in an industry that had, for so many years, manufactured the product/service first, then tried to figure
out a way to get the customer to buy it. And it worked well for the bulk of the latter part of the 20th century, mainly because marketing focused on
domestic manufacturing, distribution and purchases. But we are no longer involved in a domestic economy. We are in a global economy,
with global workers and global competition. The question becomes, therefore, whether the 4 Ps can hold up in a global economy. Day
et al (2009) suggest that the current marketing mix model is outdated because it was predicated on futures and markets that were, in the authors words, "reasonably predictable" (p. 13).
But todays climate is anything but predictable, with globalization, technology changes and an increasing level of uncertainty inherent in various economies and approaches (Day et al 2009; 13). Other aspects
impacting the 4 Ps, or any other marketing plan, for that matter, include how firms will be organized, the scarcity of resources, and continuing change among fickle audiences (Day et
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