Premium Essay

History of the Phrase "Marketing Mix"

In:

Submitted By Sidney73
Words 1494
Pages 6
The term "marketing mix" became popular after Neil H. Borden published his article The Concepts of the Marketing Mix in 1964. In this article Borden explains how he first began using this term in the late 1940's after James Culliton described the marketikng manager as a "mix of ingredients". These ingredients in Borden's teachings included product, planning, price, branding, distribution channels, personal selling, advertising, promotions, packaging, display, servicing, physical handling, and fact finding analysis. These ingredients were later grouped by E. Jerome McCarthy into four categories which we now refer to as the four p's of marketing (NetMBA 2007). The four p's of marketing make up the marketing mix which is probably the most well known of all the marketing terms. "Its elements are the basic, tactical components of a marketing plan. The four p's, of the marketing mix elements are product, place, promotion and price" (Marketing teacher 2009). These four elements create the marketing mix which impacts the development of any organization's marketing strategies and tactics. The concept is simple. Think about a cake and the components of a cake. There are certain ingredients that are required but one can alter how much of each ingredient is added. The same goes with marketing.
The four p's are required but depending on the organization there may be more emphasis on one and less on another. But one thing remains the same, all four p's are necessary. "The majority of people use the four p's but some will use the five p's and add people. Others may even go up to seven and add people, physical evidence (such as uniforms, facilties, or livery) and process" (NetMBA 2007). The organization that has been selected is the Londoner. The Londoner is an English pub and would be considered in the service industry. This paper will be defining the marketing mix as well as how

Similar Documents

Premium Essay

Management

...The Concept of the Marketing Mix' NEIL H . BORDEN Harvard Business School Marketing is still an art, and the marketing manager, as head chef, must creatively marshal all his marketing activities to advance the short and long term interests of his firm. E it observe how an or colorful may catch wide I HAVaptalways foundterminteresting toon, gain of a usage, and help to further understanding concept that has already been expressed in less appealing and communicative terms. Such has been true of the phrase "marketing mix," which I began to use in my teaching and writing some 15 years ago. In a relatively short time it has come to have wide usage. This note tells of the evolution of the marketing mix concept. NEIL H. BORDEN is professor emeritus of marketing and advertising at the Harvard Business School. He began teaching at Harvard as an assistant professor in 1922, became an associate professor in 1928, and since 1938 has been a full professor. He has won many awards, and received this year a special Advertising Gold Medal Award for Education. He is a past president of the American Marketing Association. He belongs to Phi Beta Kappa and the American Economic Association, and he is a public trustee of the Marketing Science Institute. He has published widely, and one of his books. The Economic Effects of Advertising, published in 1942, was based on a study conducted under an ARF research grant. The phrase was suggested to me hy a paragraph in a research bulletin on...

Words: 4453 - Pages: 18

Premium Essay

Marketing

...The Concept of the Marketing Mix' NEIL H . BORDEN Harvard Business School Marketing is still an art, and the marketing manager, as head chef, must creatively marshal all his marketing activities to advance the short and long term interests of his firm. E it observe how an or colorful may catch wide I HAVaptalways foundterminteresting toon, gain of a usage, and help to further understanding concept that has already been expressed in less appealing and communicative terms. Such has been true of the phrase "marketing mix," which I began to use in my teaching and writing some 15 years ago. In a relatively short time it has come to have wide usage. This note tells of the evolution of the marketing mix concept. NEIL H. BORDEN is professor emeritus of marketing and advertising at the Harvard Business School. He began teaching at Harvard as an assistant professor in 1922, became an associate professor in 1928, and since 1938 has been a full professor. He has won many awards, and received this year a special Advertising Gold Medal Award for Education. He is a past president of the American Marketing Association. He belongs to Phi Beta Kappa and the American Economic Association, and he is a public trustee of the Marketing Science Institute. He has published widely, and one of his books. The Economic Effects of Advertising, published in 1942, was based on a study conducted under an ARF research grant. The phrase was suggested to me hy a paragraph in a research bulletin on...

Words: 4443 - Pages: 18

Premium Essay

Marketing

...ALLAMA IQBAL OPEN UNIVERSITY, ISLAMABAD (Commonwealth MBA/MPA Program) Marketing Management (5565) CHECK LIST Semester: Autumn, 2013 This packet comprises the following material:- 1. Text Book 2. Assignment No. 1, 2 3. Assignment Forms (two sets) 4. Course outline In this packet, if you find anything missing out of the above mentioned material, please contact at the address given below: Mailing Officer Services Block No. 28 Allama Iqbal Open University H-8, Islamabad 051-9057611-12 Majed Rashid Director Overseas Education & E-Learning & Course Coordinator ALLAMA IQBAL OPEN UNIVERSITY, ISLAMABAD (Commonwealth of Learning Executive MBA/MPA Programme) WARNING 1. PLAGIARISM OR HIRING OF GHOST WRITER(S) FOR SOLVING THE ASSIGNMENT(S) WILL DEBAR THE STUDENT FROM AWARD OF DEGREE/CERTIFICATE, IF FOUND AT ANY STAGE. 2. SUBMITTING ASSIGNMENTS BORROWED OR STOLEN FROM OTHER(S) AS ONE’S OWN WILL BE PENALIZED AS DEFINED IN “AIOU PLAGIARISM POLICY”. Course: Marketing Management (5565) Semester: Autumn, 2013 Level Executive MBA/MPA Total Marks: 100 Instructions a) All written assignment must be well organized, presented in an easy-to-read format, and neat. If your handwriting is not legible, type or compose the written assignment. Moreover, pay particularly close attention to grammar, spelling punctuation and understandability. Communication is extremely important...

Words: 3226 - Pages: 13

Premium Essay

Delta Airlines Marketing

...Title of essay: Exploring Marketing with Delta Airlines as a Case Study Tedlow, Richard S. believes that the history of consumer product marketing in the United States can be divided into three phrases.1 The history of marketing will aid us in understanding the business world today and is thus useful in this essay to explore this in brief before embarking on studying Delta Airlines as a case study to approach the topic of marketing, in the context of the U.S Airline Industry. Phrase 1 is that of fragmentation and this is purely due to logistics reasons, rather than the result of any marketing strategy. This results in transportation of bulky goods from one region to another being relatively expensive and for a consumer product to achieve national distribution, a favorable ratio of weight and bulk to value is required. This phrase happened before the 1880s and the market size is restricted due to a lack of information, and it is characterized by a high margin and low volume. The second phrase of unification is the rise of mass marketing, with high volume and a low margin, which is the direct opposite of the first phrase of fragmentation. The development of this phrase is possible due to firstly, the development of the railroad and the telegraph and secondly, innovations in manufacturing technology. All the above innovations led to a more effective transportation and communication network that lowered the cost of mass marketing products by significant percentages. There is a rise...

Words: 5315 - Pages: 22

Premium Essay

Exploring Marketing with Delta Airlines as a Case Study

...Title of essay: Exploring Marketing with Delta Airlines as a Case Study Tedlow, Richard S. believes that the history of consumer product marketing in the United States can be divided into three phrases.1 The history of marketing will aid us in understanding the business world today and is thus useful in this essay to explore this in brief before embarking on studying Delta Airlines as a case study to approach the topic of marketing, in the context of the U.S Airline Industry. Phrase 1 is that of fragmentation and this is purely due to logistics reasons, rather than the result of any marketing strategy. This results in transportation of bulky goods from one region to another being relatively expensive and for a consumer product to achieve national distribution, a favorable ratio of weight and bulk to value is required. This phrase happened before the 1880s and the market size is restricted due to a lack of information, and it is characterized by a high margin and low volume. The second phrase of unification is the rise of mass marketing, with high volume and a low margin, which is the direct opposite of the first phrase of fragmentation. The development of this phrase is possible due to firstly, the development of the railroad and the telegraph and secondly, innovations in manufacturing technology. All the above innovations led to a more effective transportation and communication network that lowered the cost of mass marketing products by significant percentages. There is a rise...

Words: 5315 - Pages: 22

Premium Essay

Global Strategies of Mcdonald’s and Starbucks

...Abstract This paper explores the global strategies of McDonald’s Corporation and Starbucks Corporation. An overview of the company histories is included along with the basic business philosophies. The focus of the paper is on the marketing strategies, both domestic and international, examining the marketing mix for each company. The four P’s of marketing are detailed with examples of how each company uses them to their advantage. The reasons for the successful global expansion of both companies are incorporated into the compiled information.   A Look at the Global Marketing Strategies of McDonald’s and Starbucks McDonalds and Starbucks are two domestic companies that are very successful. Both have emerged first as leaders in their respective markets domestically, and because of that success have been able to grow and expanded into countries all over the world. This paper will examine these two companies from a global perspective in order to evaluate their marketing strategies, with a particular emphasis on how successful they have been in foreign markets. The paper will focus on how each company has applied the four P’s of price, product, place and promotion in their marketing mix, detailing how they are used gain an advantage in their respective markets. Finally, the paper will evaluate the success of these organizations in developing niches in their markets as compared to their competition. The first company examined is McDonald’s Corporation or McDonald’s as the...

Words: 3969 - Pages: 16

Premium Essay

Marketing Mix

...Marketing Mix Marketing is essential to all companies. Without it, the company most likely would not succeed without some kind of marketing. Marketing is not just advertising as some might think. Four elements make up the marketing mix. They are products, place, prices, and promotions. Each affects the growth of a company’s marketing strategies and marketing tactics in different ways. One company that knows all about marketing is the most well-known fast food restaurant in the world: McDonald’s. Product is an essential element that makes up the marketing mix. “The Product area is concerned with developing the right ‘product’ for the target market” (Perreault, Cannon & McCarthy, 2011). McDonald’s has developed the right product. They serve food that millions of people consume on a daily basis. A piece of the appeal of McDonald’s is the fact that the product generally is consistent, and happens to taste the identical apart from coming from a different part of the world. McDonald’s products are very recognizable. They include regular hamburgers and speciality hamburgers that include, The Quarter Pounder with Cheese and The Big Mac. They also offer a variety of chicken items such as the famous nuggets and chicken sandwiches. Under the pressure of society and the strive to be more healthier., McDonalds also offers various salads and healthier options. Of course they still off desserts like sundaes, shakes, and apple pies. McDonald’s product has expanded to other options...

Words: 1455 - Pages: 6

Premium Essay

Pharmaceutical Marketing Strategy

...College of Business Administration Marketing and Entrepreneurship Department Course Description: Survey of sales and marketing practices, constraints and promotion tools in the pharmaceutical and related industries, including new product development and licensing. Prerequisite: MKTG5532 Strategic Marketing and PHAR6605; The Pharmaceutical Industry: Structure and Government Regulations. Outcomes: Upon completion of this course, students should be able to: Understand segmentation and targeting marketing practices and opportunity analysis utilized by the pharmaceutical and related healthcare industries Understand the impact of social, political, legal/regulatory, and cultural environments on the marketing and brand planning processes Apply the fundamental 4P's of marketing (Product, Price, Place, and Promotion) to the pharmaceutical and related industries Understand the approach taken to create and manage pharmaceutical marketing and brand plans Relation to Silberman College of Business Mission: In keeping with the mission of the Silberman College of Business this course provides students an opportunity to develop real-world business skills, namely, develop within students an enhanced facility for applying sound decision-making, problem-solving, and analytic techniques in addressing a variety of the most important pharmaceutical marketing issues. Course Topics: Fundamental marketing management issues involving: Go-To-Market...

Words: 1087 - Pages: 5

Premium Essay

Electricity Crisis

...PRODUCT PROMOTION  Is the act of advertising a good or services with the short/long term goal of increasing sales. FOUR FACTORS WHICH MARKETING DECISIONS MAKING WITH REGARD TO PROMOTION: 1.) THE PROMOTION BUDGET AVAILABLE  The amount of money available for promotion is the real determinant of the mix. BIG companies can make greater and more effective use of advertising than firms with limited resources. Small businesses rely on personal selling dealer displays. 2.) THE NATURE OF THE MARKET  The influence of the nature of a company’s market is affected by the Geographic scope of the market, its concentration and type of customers and nature of competition. 3.) THE NATURE OF THE PRODUCT  Consumer product and industrial goods frequently require different strategies. For instance, firms marketing convenience goods will rely heavily on manufacturer’s advertising, plus emphasis on dealers display. Personal selling plays a minor role, for industrial Goods such as machinery. 4.) THE STAGE OF THE PRODUCT PROMOTION’S LIFE CYCLE AND THE TARGET PROMOTION  PRODUCT LIFE CYCLE (CPLC) – the course of a product’s sales and profit over its lifetime. Every product seem to go to PLC –it is born, goes through several phrases, and eventually dies as younger products come along that better suit and serve the consumer needs. METHODS USED TO PROMOTE A PRODUCT: A. ADVERTISING  Is a tool that is available for everyone to use. Presentation and promotion ideas, goods, or services...

Words: 1639 - Pages: 7

Premium Essay

Marketing Mix-Green Depot the Eco Firendly Way

...Green Depot: The Eco-Friendly Way Kaplan University In this report I will put into words my interpretations of the marketing mix of Green Depot. “The marketing mix is the set of controllable, tactical marketing tools that the firm blends to product the response it wants in the target market” (Armstrong & Kotler, 2010, p. 81). Marketing Mix Analysis Overview Green Depot is the eco-friendly version of Home Depot. Providing “environmentally friendly and sustainable building products, services and home solutions” (Green Depot, About us 2005). I would analyze the marketing mix of Green Depot as adequate. The company’s primary goal is incorporate “green living and building in communities so it is easy, affordable and gratifying” (Green depot, 2005). I choose only adequate because green living although in the future may be affordable currently it is in fact a bit expensive. This company was founded in 2005 by Sarah Beatty her purpose to make green services readily available and easily adopted into standard construction operations was successful. Green Depot has created a unique filter to gage whether or not the products are in fact “green”. This filter focuses on five categories air quality, local, social responsibility, energy conservation. By use of their “proprietary filter” Green Depot has been set apart from the greenwashing stigma “a form of corporate misrepresentation where the company will present a green public image and publicize green initiatives that...

Words: 1962 - Pages: 8

Premium Essay

Marketing

...objective of generating new leads. | 3 | Market segmentation |  Process of dividing the market into smaller groups that share one or more characteristics. | 4 | Marketing mix |  Usually refers to McCarthy's '4 P's': Promotion, Place, Price and Product. Other words beginning with P (eg People and Process) are sometimes also included. | 5 | Positioning |  Deciding where your product fits in, and how it should be perceived, in relation to its competitors. | 6 | Product differentiation |  What makes your product different from those of your competitors (eg you supply better quality, or more timely, searches). | 7 | Target market |  A group of people for whom you create and maintain a specific marketing mix (eg the product will be tailored to their needs, priced in a way that group finds attractive). | 8 | Advertising | The activity of attracting public attention to a product or business by paid announcements in print, | 9 | Below the Line | A term applied to marketing that carries a response mechanism. This includes coupons, DRTV and telemarketing (verbal responses). | 10 | Cold Call | The process of contacting a person (known as a prospect) that has no prior relationship with you, e.g. a telemarketing  company calling from a previously uncontacted database. | 11 | Cross-selling | Using a customer´s buying history to select them for related offers, e.g. a car alarm for new car buyers. | 12 | Follow-up Call | A telephone call made after the initial mailer has been sent...

Words: 1679 - Pages: 7

Premium Essay

Mcdonald’s: Behind the Golden Arches

...McDonald’s: Behind The Golden Arches “Since 1955, we’ve been proud to serve the world some of its favourite food. And along the way, we’ve managed not just to live history, but create it:  from drive-thru restaurants to Chicken McNuggets to college credits from Hamburger U and much more. It’s been quite the journey, and we promise this is just the beginning-we’ve got our hearts set on making more history” (McDonald’s Corporation, 2011). Almost 60 years have passed since Raymond Kroc envisioned a nationwide fast food chain, which needless to say went on to revolutionise the American restaurant industry and become the world’s number #1 fast food restaurant. Today McDonald’s serves 52 million people a day from one of its 31,000 restaurants dotted around the world (Ritabrata Giiosii, R.G. 2009).  The golden arches along with Ronald McDonald and the catch phrase “I’m lovin’ it” have assisted McDonald’s in becoming one of the most globally recognised brands, allowing them to become McDonald’s most valuable intangible assets, but how did they do it? Countless elements threaten McDonald’s reputation; health issues, legal and technological changes, social factors, environmentalists and obviously competitors especially those who offer similar services and products such as KFC. They too have become a national brand recognized all around the world however to understand how McDonalds have achieved such success we must first understand what they do differently and what objectives...

Words: 6844 - Pages: 28

Premium Essay

Bank

...It describes how online banking provides business and personal banking services worldwide. Now let‘s me to introduce the history first. 2. Background In line with standard chartered website, was established in 1969(SCBL2012A). SCBL comes from two original banks.it is The Chartered Bank of India ,Australia and china & The Standard Bank of British south Africa. The history of standard chartered in Hong Kong dates back to 1859. It is one of the SAR’s three note-issuing banks. In 2000; SCB purchased Grindlays Bank from ANZ bank & start to focus Asia market. SCB thought to purchase another small bank to be a large bank in the world. SCB offers a wide range of banking and financial products and services including personal banking, private banking, small and medium enterprises banking and wholesale banking activities to satisfy different target customer. SCBL operates as a licensed bank in Hong Kong on1 July 2004. It is over 150years in Hong Kong. SCBL want to be the best international bank in its market SCBL belief that (SCBL2012B) “it’s our new brand promise that reflects our oldest belief. It’s what we have been doing for 150 years and it reflects our commitment to be Here for the people, Here for progress, Here for the long run, Here for good.” 3. Corporate strategy & marketing skills I would like refer to SOSTAC planning system for the analysis of the...

Words: 2001 - Pages: 9

Premium Essay

Branding

...Branding Elizabeth Saracini April 27th, 2013 Marketing 300 Taste the Rainbow. Open Happiness. Eat Fresh. These slogans are recognized across America and around the globe due to the strong branding strategies implemented by the companies that own them. In today’s fast paced and technological world, it is essential for companies to use a simple image, sound, or phrase as a to communicate their reputation. Physical and auditory cues allow brands to take on personality traits that derive from the product’s core customer value. Branding can be very effective in a marketing product by adding perceived value, differentiating the product in a large market, and increasing brand recognition. Most importantly, branding can create a strong customer loyalty that simplifies purchase decisions and builds an emotional bond between the product and the consumer, which in turn leads to higher profits for the company and overall satisfaction. The initial concept of branding began with early civilization, almost 4000 years ago, when farmers branded their livestock to claim ownership over them. Potters’ marks on porcelain dishware and pottery were also recognized as an early form of branding. In the late 1800’s and early 1900’s countries around the world began to industrialize. Manufacturers now faced competition from previously insignificant countries because products could be produced and transported easily and efficiently. By the 1940’s, trade lines were opened across the globe and overall...

Words: 2125 - Pages: 9

Premium Essay

Playstation Product Life Cycle

...Playstation 1 - the Introduction process The irruption of Sony into what was then a very primitive video game market came in 1995 when they relased the Playstation 1 (PS1) in North America. The PS1 definatly had a huge impact in the whole video game industy as it was one the pioneers that helped the industry become what is now a multi-billion dolar industry that dominates modern entertaimet. Sony manage to differiante its new console from Nintendo, (who by far were dominaning the market at that time) who marketed themself as a more family-friendly entertaiment console. Nintendo has always provided Sony with some fierce competition, from the PS1's introduction untill the more recent years (2013-). This being said, Sony needed to come up with a marketing strategy that could position them into a respectable position in a market where Nintendo was the clear king. Their main focus has alwaya been on developing a gaming console with the best hardware possible to appeal to a demographic of around 12 to 30 years old males who were serious about being able to play high quality (for that time)...

Words: 1241 - Pages: 5