(PDF) Critical Analysis the article: Marketing Mix Revisited: Towards the 21st Century Marketing

Critical Analysis o

f the

Marketing Mix

Adjonyo Noah

|

10159217@my

dbs.ie

1

Summary: Mar

keting Mix Article

1.1

Background

Marketing mix as a theoretical foundatio

n of understanding marketing, ar

ouse

in 1960

s

. It was

formulated

by a

writer called

Neil B

orden who i

dentified four

elements

which includ

e place,

product,

promotion

an

d

price.

It

is

usually

tru

sted

by

many

firms

when

it

comes

to

market

planning. This is because it influence

s

buying decisions and essay to apply in differ

ent

scenarios.

However, marketing mix has its obvious weaknesses in terms of application in management of

relationship and

marketing of industrial

products. Therefore, alt

ern

ative

s have been

fronted to

cater for

its shortcomings

The article objective

is to

present current debate

among academicians

on the effective of

marketing mix as a manag

ement tool in light several di

s

ciplines of

management

such

con

s

umer

mark

eting, relati

onship mark

eting and

reta

il marketing.

I

n

addition, th

e article w

ill discuss t

he relevance

of the

mix in t

he emerging

marketing do

m

ains

such

as electronic m

arketing. However, wh

ile looking

a

t

t

hese

obje

c

tives, the

r

esearch

is

limited

in several

way

s

. The

sources

o

f

acad

emic

v

iews

ar

e

one sided

a

s

well marketing

domains chosen

m

ay be irr

elevant to other areas.

1.2

Emerging trends in Consumer behaviour

Changes i

n consu

mers buying

behaviours

have pr

ompted a

change

in marketing

approaches.

Proliferation

of

infor

mation

technology

has

affe

cted

mark

eting

gr

e

atly.

Consu

mers

are a

lso

changed

their

buying

behaviour

and ad

opted

personalized

buying

which re

quire r

elationship

building

as

we

ll

being

innovative

ness.

There

have

be

en

emerging

issues

such

as

electroni

c

marketing as well

n

eed fo

r building relationship with c

lients which limits the

traditional

marketing mix.

The

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r

elationship

between 4Ps

a

nd

con

s

umer marketing can

be traced

t

o

ra

pi

d changes

in

consumers’

needs a

s well

buying

beh

aviour

s. Nowaday

s consumer

s

are empowere

d in t

erms

heir awareness and

pur

ch

ase powers which

n

eeds

better h

andling. This

has p

rom

pted

marketers

to adopt

personalization

in mark

eting

instead of

mass

market

marketing. This

will

enable marketer

s

n

otice change in

consumer needs, r

espond to com

petitive forces and

predict

markets trends. In this relationship,

there are obvious shortcomin

gs of m

arketing mix.

There is

lack of c

onsumer orientation, lack of

interactio

n w

ith consumers and

lack of strategic e

lements.

This is is a syndicated post. Read the original at www.researchgate.net

   

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