The 4p Classification of the Marketing Mix Revisited

The 4P s Classification of the Marketing Mix Revisited This article, addresses the prime classifications scheme in marketing, the 4P configuration of the marketing mix. The marketing discipline needs a strong classification of the marketing mix, not only to stimulate conceptual integration and purification of the discipline, but also for meaningful measurement of marketing mix efforts and their effects. Also, managers need a clear classification of all instruments at their disposal in order to assess and judge the instruments, objectives, interactions, and restrictions. Last, but not least students need to work with a clear and logical classification. This paper will first outline and comment on the origin and application of†¦show more content†¦From the authors perspective they base two explicit criteria: the main generic function performed and the basic versus complementary nature of the specific instrument’s use. The paper terms the element of the marketing mix used in performing the functions necessary for making the exchange happen as â€Å"generic† The four generic functions can be summarized as:1. configuring something valued by the prospective exchange party. 2. Determining the compensation and the sacrifices the prospective exchange party must make in exchange for the offer.3.Placing the offer at the disposal of the prospective exchange party. 4.Bringing the offer to the attention of the prospective exchange party, keeping its attention on the offer and influencing-normally in a positive way its feeling and preferences about the offer. Sales promotion is not taken up as a separate generic functional category, as this category is not essential to bring about a transaction. Several marketing mix instruments and categories can be realized in each of these generic functions. A prime example, the satisfaction of the buyers needs will be fulfilled mainly by the product characteristics, but the other marketing mix categories can add to that result. Promotion, imply that there is a sound basic marketing mix that might need support in some circumstances. SomeShow MoreRelatedMarketing Mix Revisited11165 Words   |  45 Pages407-438 The Marketing Mix Revisited: E. Constantinidesi Towards the 21^* Century Marketing The paper assesses the current standing of the 4Ps Marketing Mix framework as the dominant marketing management paradigm and identifies market developments, environmental changes, and trends, as well as changing academic attitudes likely to affect the future of the Mix as theoretical concept and also the favourite management tool of marketing practitioners. 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