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Essay / Research Paper Abstract
A 7 page paper. The 4Ps have been used as the standard of the marketing mix for decades. This paper discusses the theorists of the concepts of the marketing mix and the 4Ps and how each perceived the concepts. The 4Ps are identified and explained. The theoretical basis for this standard is also discussed. Bibliography lists 6 sources.
Page Count:
7 pages (~225 words per page)
File: MM12_PGmkt4p.rtf
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Unformatted sample text from the term paper:
the marketing campaign is reaching the target market (Borden, 1965). Bordon said that the elements are: product planning, distribution channels, packaging, display, branding, physical handling, fact finding, promotion, analysis and
personal selling (Borden, 1965). Borden also asserted there were certain forces that would impact how the marketer mixed the elements, such as, the competitions position and their behavior, government controls,
the buying behavior of consumers, and industry behaviors (Borden, 1965). In the mid-1970s, Jerome McCarthy adapted and refined the marketing mix as described by Borden and created the 4Ps,
which McCarthy said there the four basic elements that comprise the marketing mix (McCarthy, 1975). McCarthys 4Ps are: Product, Place, Promotion, and Price (McCarthy, 1975). The product can be either
a service and/or an item/good (McCarthy, 1975). The Place refers to when and where the product is sold and to whom it is sold (McCarthy, 1975). Promotion refers to the
multitude of methods that are used to communicate to the target market the product is available at the right price (McCarthy, 1975). Price refers to the price placed on the
product, it is the price that will make the product most appealing to the consumer (McCarthy, 1975). Both Borden and McCarthy asserted that the elements of the marketing mix
were interdependent and each is equally important in the marketing plan (Borden, 1965; McCarthy, 1975). One major difference in how these two theorists described the marketing mix is that McCarthy
believed that the decisions regarding each element in the mix had to be made in sequential order - product, place, promotion, price - but Borden never mentioned any specific order
in making decisions about these elements (Borden, 1965; McCarthy, 1975). Both authors said that the marketing mix revolved around the customer, however (Borden, 1965; McCarthy, 1975). Since these two theorists
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