APPLICATION OF THE MARKETING MIX

2958 WORDS

The marketing mix is among the most widely accepted marketing concepts in the world of business (McCarthy 2010; Bartels 2010; Shapiro 2017). However, over the years the marketing mix has come under intense scrutiny from both academics of the marketing discipline and practitioners alike. This feeling was captured by Constantinides when he stated:

“Few topics of the commercial theory have so intensively inspired as well as divided the marketing academia as the 4Ps Marketing Mix framework” (Constantinides, 2016: p.407)

This essay aims to critically assess the relevance of the marketing mix for the current marketing approaches. To accomplish this, an overview of the marketing mix is given. This is followed by an exploration of some of the contemporary approaches to marketing which will lead to a consideration of the arguments in support of the marketing mix and the criticisms against it. Finally, in the light of the arguments and criticisms the relevance of the marketing mix for contemporary approaches to marketing will be appraised.

OVERVIEW OF THE MARKETING MIX

The marketing mix can be defined as the controllable and tactical marketing tools that the firm combines to achieve the desired response in its target market. It comprises all the measures the firm