Lecture 04 - The Marketing Mixes.pdf - Topic 4 – The...

Topic 4 – The Marketing Mixes Principles of Marketing
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Principles of Marketing
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Principles of Marketing
Topic 4:
The Marketing Mixes
The Marketing Mixes Topic 4 - 4.2
Scope and Coverage
This topic will cover:
• A brief background to where the current
Marketing Mix came from
• The Marketing Mix
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• The Marketing Mix
• The Extended Mix
• The New Full Mix
• Other mixes: Marketing
Communications/Promotions/Media
The Marketing Mixes Topic 4 - 4.3
Learning Outcomes
By the end of this topic, students will be able to:
• Identify the various mixes and their purposes
• Breakdown the Marketing Mix into its component
parts
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parts
• Understand how the Marketing Mix forms the basis
of marketing planning
• Identify and use other mixes: Media/Marketing
Communications/Promotion.

Topic 4 – The Marketing Mixes Principles of Marketing
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The Marketing Mixes Topic 4 - 4.4
The Full and Sub Mixes
• Our objective today is to explore and understand
both the FULL and Sub mixes of marketing
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The Marketing Mixes Topic 4 - 4.5
The Four ‘P’s’ - Borden to McCarthy
• Borden’s (1953) original Five P’s were amended in
1960 by E. Jerome McCarthy; he proposed the
Four ‘P’s’
– The first two P’s focus upon:
• PRODUCT-RELATED elements with an input of
economics Product as a necessity
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economics - Product as a necessity
• PRICE is seen as important – an element on its own in
some products marketing
– The other two ‘P’s’ are part related to the delivery
systems:
• PLACE: delivering the product/service
• PROMOTION: delivering the sales message
The Marketing Mixes Topic 4 - 4.6
Borden to McCarthy - The
Challenge
• In today’s market-place McCarthy’s Four ‘P’s’ are
under-fire:
– ‘Too broad’
– ‘Too simplistic’
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Too simplistic
– ‘Not like real-life’
– McCarthy misunderstood Borden’s original work
• These are all quoted reasons for the challenge

Topic 4 – The Marketing Mixes Principles of Marketing
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The Marketing Mixes Topic 4 - 4.7
Borden to McCarthy – the
Response
• So the response was to add a 5th ‘P’:
• People (or your customers)
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• In today’s market place the Five ‘P’s’ represent a
basic method of formulating a marketing plan and
effectively committing to the use of marketing.
The Marketing Mixes Topic 4 - 4.8
Using the Marketing Mix is
Important
• It is critical to stress the importance of the actual
use of the mixes in business.